Yanis Motion Theatre

Presented below is the November 30, 2019, unadjusted trial balance of Yanis Motion Theatre, which is owned by Chase Corporation. The temporary account balances represent the results of entries recorded during the first 11 months of 2019, and the balance in Yanis common stock and retained earnings accounts have not changed since December 31, 2018. Currently, 5,000 shares of stock are outstanding and 20,000 shares have been authorized. All income tax effects are to be ignored for this project.

Yanis Motion Theatre

Unadjusted Trial Balance

November 30, 2019

	REF	DEBIT	CREDIT
Cash	111	251,070
Concessions Inventory	112	10,700
Supplies Inventory	113	8,560
Prepaid Rent	114	13,550
Equipment	131	263,540
Accumulated Depreciation, Equipment	132		123,380
Building	135	421,700
Accumulated Depreciation, Building	136		121,790
Accounts Payable	211		21,400
Wages Payable	212		0
Utilities Payable	213		0
Interest Payable	214		0
Unearned Admissions Revenue	215		3,570
Long-Term Notes Payable	231		45,290
Common Stock ($10 par value)	311		73,820
Retained Earnings	312		296,180
Dividends	313
Income Summary	314
Admissions Revenue	411	`	540,390
Concessions Revenue	412		557,290
Wages Expense	511	453,550
Rent Expense	512	197,150
Concessions Expense	513	124,620
Supplies Expense	514	0
Utilities Expense	515	17,500
Advertising Expense	516	6,600
Maintenance Expense	517	14,570
Depreciation Expense, Equipment	518	0
Depreciation Expense, Building	519	0
Interest Expense	520	0
Totals		$1,783,110	$1,783,110

The following transactions occurred during the month of December 2019:

Dec.	5	Paid accounts payable of $6,350.
	6	Paid rent of $7,000 in advance.
	6	Purchased supplies, $620, on account.
	7	Deposited $22,000 of admissions receipts.
	9	Unearned admissions revenue is for gift certificates purchased for admission into future shows. $550 more of these gift certificates were sold to a local restaurant business, for cash.
	10	Purchased $4,750 of concessions items on credit.
	12	Acquired additional equipment worth $24,000 by paying $700 cash and giving a long-term note payable for the balance.
	14	Paid wages of $20,800 for the period December 1 through 14.
	16	Paid for the supplies purchased on December 6.
	17	Purchased $8,800 of supplies on credit.
	19	Sold 400 shares of $10 par value common stock for $10 a share.
	21	Deposited $19,700 from concessions sales and $11,880 of admissions receipts.
	24	Paid $2,000 for repairs to roof for weather damage.
	25	Purchased $4,050 of concessions items on account.
	27	Paid for the supplies purchased on December 17.
	28	Paid wages of $13,600 for the period December 15 through 28.
	30	Paid $6,100 to newspaper for advertisements that appeared in December.
	31	Deposited $20,700 from admissions receipts and $17,240 from concessions sales.
	31	Declared and paid the annual dividend, amounting to $8,800.

1. Prepare journal entries to record the December transactions listed above.

2. Post the December journal entries to the general ledger.

3. Prepare a 6-column worksheet and enter the December 31 unadjusted balances from the general ledger

accounts.

Unpaid wages were $5,210 as of December 31

The December 31 concessions inventory was $1,715.

The supplies inventory was $3,750 on December 31.

The unexpired portion of the prepaid rent was $3,000 as of December 31.

Depreciation for the year on the equipment was $12,000.

Depreciation for the year on the building was $32,200.

Unpaid utilities expense for December was $2,120.

Interest expense on the note payable for 2019 was $1,790, to be paid when the note matures.

Admissions gift certificates still unredeemed at December 31 totaled $3,000.