The accounts listed below appeared in the December 31 trial balance of the Tamarisk Theater. Debit Credit Equipment $196,624 Accumulated Depreciation-Equipment $64,660 Notes Payable 90,000 Admissions Revenue 389,800 Advertising Expense 14,620 Salaries and Wages Expense 57,950 Interest Expense 1,400 (1) The equipment has an estimated life of 16 years and a salvage value of $25,040 at the end of that time. (Use straight-line method.) (2) The note payable is a 90-day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.) (3) In December, 1,910 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. (4) Advertising expense paid in advance and included in Advertising Expense $1,080. (5) Salaries and wages accrued but unpaid $4,441. No. Account Titles and Explanation Debit Credit (1) (2) (3) (4) (5) List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Common Stock Cost of Goods Sold Current Maturity of Long-Term Debt Delivery Expense Depreciation Expense Dividends Dues Revenue Equipment Green Fees Revenue Income Summary Income Tax Expense Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Capital Owner's Drawings Prepaid Advertising Prepaid Insurance Prepaid Rent Property Tax Expense Property Tax Payable Rent Expense Rent Receivable Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Service Revenue Subscription Revenue Supplies Supplies Expense Telephone and Internet Expense Utilities Expenses Unearned Admissions Revenue Unearned Dues Revenue Unearned Service Revenue Unearned Rent Revenue Unearned Subscriptions Revenue

The accounts listed below appeared in the December 31 trial balance of the Tamarisk Theater. Debit Credit Equipment $196,624 Accumulated Depreciation-Equipment $64,660 Notes Payable 90,000 Admissions Revenue 389,800 Advertising Expense 14,620 Salaries and Wages Expense 57,950 Interest Expense 1,400 (1) The equipment has an estimated life of 16 years and a salvage value of $25,040 at the end of that time. (Use straight-line method.) (2) The note payable is a 90-day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.) (3) In December, 1,910 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. (4) Advertising expense paid in advance and included in Advertising Expense $1,080. (5) Salaries and wages accrued but unpaid $4,441. No. Account Titles and Explanation Debit Credit (1) (2) (3) (4) (5) List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Administrative Expenses Admissions Revenue Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Common Stock Cost of Goods Sold Current Maturity of Long-Term Debt Delivery Expense Depreciation Expense Dividends Dues Revenue Equipment Green Fees Revenue Income Summary Income Tax Expense Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Capital Owner's Drawings Prepaid Advertising Prepaid Insurance Prepaid Rent Property Tax Expense Property Tax Payable Rent Expense Rent Receivable Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Service Revenue Subscription Revenue Supplies Supplies Expense Telephone and Internet Expense Utilities Expenses Unearned Admissions Revenue Unearned Dues Revenue Unearned Service Revenue Unearned Rent Revenue Unearned Subscriptions Revenue

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter15: Preparing Adjusting Entries And A Trial Balance

Section: Chapter Questions

Problem 3AP

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List of Accounts

Assistance Used

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Administrative Expenses
Admissions Revenue
Advertising Expense
Allowance for Doubtful Accounts
Bad Debt Expense
Buildings
Cash
Common Stock
Cost of Goods Sold
Current Maturity of Long-Term Debt
Delivery Expense
Depreciation Expense
Dividends
Dues Revenue
Equipment
Green Fees Revenue
Income Summary
Income Tax Expense
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Maintenance and Repairs Expense
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Office Expense
Owner's Capital
Owner's Drawings
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Property Tax Expense
Property Tax Payable
Rent Expense
Rent Receivable
Rent Revenue
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Payable
Sales Discounts
Sales Returns and Allowances
Sales Revenue
Selling Expenses
Service Revenue
Subscription Revenue
Supplies
Supplies Expense
Telephone and Internet Expense
Utilities Expenses
Unearned Admissions Revenue
Unearned Dues Revenue
Unearned Service Revenue
Unearned Rent Revenue
Unearned Subscriptions Revenue

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	Debit	Credit
Equipment	$196,624
Accumulated Depreciation-Equipment			$64,660
Notes Payable			90,000
Admissions Revenue			389,800
Advertising Expense	14,620
Salaries and Wages Expense	57,950
Interest Expense	1,400

(1)		The equipment has an estimated life of 16 years and a salvage value of $25,040 at the end of that time. (Use straight-line method.)
(2)		The note payable is a 90-day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.)
(3)		In December, 1,910 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1.
(4)		Advertising expense paid in advance and included in Advertising Expense $1,080.
(5)		Salaries and wages accrued but unpaid $4,441.

No.	Account Titles and Explanation	Debit	Credit
(1)

(2)

(3)

(4)

(5)