Question

Prepare journal entries to record the December transactions listed below.

The following transactions occurred during the month of December 2019:

Dec.	5	Paid accounts payable of $4,950.
	6	Paid stadium rental of $8,500 in advance.
	6	Purchased supplies, $720, on account.
	7	Deposited $16,000 of admissions receipts.
	9	Unearned admissions revenue is for gift certificates purchased for admission into future shows. $480 more of these gift certificates were sold to a local restaurant business, for cash.
	10	Purchased $2,150 of concessions items on credit.
	12	Acquired additional equipment worth $34,000 by paying $500 cash and giving a long-term note payable for the balance.
	14	Paid wages of $14,200 for the period December 1 through 14.
	16	Paid for the supplies purchased on December 6.
	17	Purchased $1,800 of supplies on credit.
	19	Sold 600 shares of $10 par value common stock for $10 a share.
	21	Deposited $22,750 from concessions sales and $10,660 of admissions receipts.
	24	Paid $1,600 for repairs to roof for weather damage.
	25	Purchased $8,200 of concessions items on account.
	27	Paid for the supplies purchased on December 17.
	28	Paid wages of $17,720 for the period December 15 through 28.
	30	Paid $2,500 to newspaper for advertisements that appeared in December.
	31	Deposited $23,000 from admissions receipts and $17,850 from concessions sales.
	31	Declared and paid the annual dividend, amounting to $7,600.

Answer 1

Date	Particulars	Amount (Dr)	Amount (Cr)
5-Dec	Accounts payable	$4,950
	Cash or Bank Account		$4,950
6-Dec	Advance rental	$8,500
	Cash or Bank Account		$8,500
6-Dec	Supplies Account	$720
	Accounts payable		$720
7-Dec	Cash Account	$16,000
	Concession Sales		$16,000
7-Dec	Bank Account	$16,000
	Cash Account		$16,000
9-Dec	Cash Account	$480
	Unearned revenue		$480
10-Dec	Concessions items	$2,150
	Accounts payable		$2,150
12-Dec	Equipment Account	$34,000
	Cash Account		$500
	Note payable Account		$33,500
14-Dec	Wages Account	$14,200
	Cash or Bank Account		$14,200
16-Dec	Accounts payable	$720
	Cash or Bank Account		$720
17-Dec	Supplies Account	$1,800
	Accounts payable		$1,800
19-Dec	Bank Account	$6,000
	Common stock		$6,000
21-Dec	Cash Account	$33,410
	Revenue from admissions		$10,660
	Concession Sales		$22,750
21-Dec	Bank Account	$33,410
	Cash Account		$33,410
24-Dec	Repairs Account	$1,600
	Cash or Bank Account		$1,600
25-Dec	Concessions items	$8,200
	Accounts payable		$8,200
27-Dec	Accounts payable	$1,800
	Cash or Bank Account		$1,800
28-Dec	Wages Account	$17,720
	Cash or Bank Account		$17,720
30-Dec	Advertisement Account	$2,500
	Cash or Bank Account		$2,500
31-Dec	Cash Account	$40,850
	Revenue from admissions		$23,000
	Concession Sales		$17,850
31-Dec	Bank Account	$40,850
	Cash Account		$40,850
31-Dec	Dividend Account	$7,600
	Bank Account		$7,600