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The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange. The following selected events and transactions occurred during January:1-JanJack Strange, the owner, invested $50
The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange. The following selected events and transactions occurred during January:1-JanJack Strange, the owner, invested $50,000 in the business.5-JanPurchased equipment for $100,000 on account from The Gotham Company.8-JanIncurred advertising expense of $1,800 on account from Mr. Freeze Agency.11-JanPaid salaries to employees, $1,50012-JanPaid the cell phone bill, $200.13-JanPaid $1,500 for a 1-year insurance policy.17-JanJack Strange withdrew $600 cash for personal use.20-JanReceived $5,700 in cash for admission fees.22-JanBilled corporate customers $3,000 for using the park earlier today.25-JanCollected $2,500 from customers in advance of using the park.30-JanPaid $700 on account for the advertising incurred back on January 8.The following accounts are used in the Super Hero Theme Park: Cash, Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Admission Revenue Jack Strange, Capital Jack Strange, Drawing Admission Revenue Advertising Expense Salaries Expense Telephone ExpenseComplete the following: Journalize the January transactions. Post transactions to the General Ledger. Prepare a Trial Balance. Prepare an Income Statement. Prepare a Statement of Owner’s Equity. Prepare a Balance Sheet.
