Will Rate Answer!
Bob Night opened "The General's Favorite Fishing Hole. "The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. Ledger balances for The General's Favorite Fishing Hole at the end of April are as follow: Accounts Payable $66,500 90,000 Bob Night, Capital Bob Night, Drawing 6,000 Cash 130,650 60,000 38,700 500 150 Fishing Boats Food Supplies Office Supplies Postage Expense Prepaid Insurance Registration Fees Rent Expense Phone Expense Utilities Expense Wages Expense 9,000 171,700 40,000 1,200 2,000 40,000 Adjustment information for the end of April is provided below. Adjustment information for the end of April is provided below. (a) Office supplies remaining on hand, $100. (b) Food supplies remaining on hand, $8,000. (C) Insurance expired during the month of April, $1,500. (d) Depreciation on the fishing boats for the month of April, $1,000. (e) Wages earned, but not yet paid, at the end of April, $500. Required: 5. Journalize the adjusting entries (page 5). Do not enter the posting references until you complete part 6. 5. Journalize the adjusting entries (page 5). Do not enter the posting references until you complete part 6. GENERAL JOURNAL PAGE 5 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- (a) (b) (C) (d) (e) 6. Post the adjusting entries to the general ledger. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to pa 6. Post the adjusting entries to the general ledger. If an amount box does not require an entry, leave it blank. After posting to the general ledger, go to part 5 and complete the posting. GENERAL LEDGER ACCOUNT Office Supplies ACCOUNT NO. 142 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 29 500.00 Apr. 30 Adjusting 15 ACCOUNT Food Supplies ACCOUNT NO. 144 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 38,700.00 Apr. 30 Adjusting 15 ACCOUNT Prepaid Insurance ACCOUNT NO 145 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT ACCOUNT Accumulated Depreciation-Fishing Boats 181.1 ACCOUNT NO. BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting 25 ACCOUNT Wages Payable ACCOUNT NO. 219 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting J5 ACCOUNT Wages Expense ACCOUNT NO. 511 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 29 40,000.00 Apr. 30 Adjusting 25 ACCOUNT Office Supplies Expense ACCOUNT NO. 523 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting 15 ACCOUNT Food Supplies Expense ACCOUNT NO. 524 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting J5 ACCOUNT Insurance Expense ACCOUNT NO. 535 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting J5 ACCOUNT Insurance Expense ACCOUNT NO. 535 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting 15 ACCOUNT Depreciation Expense-Fishing Boats ACCOUNT NO. 542 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- Apr. 30 Adjusting J5
