CALCULATOR PRINTER VERSION BACK NEXT Problem 2-05A a-d (Video) The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Starr showed: Cash $3,050, Land $23,000, Buildings (concession stand, projection room, ticket booth, and screen) $12,000, Equipment $12,000, Accounts Payable $7,200, and Owner's Capital $42,850. During the month of March, the following events and transactions occurred. Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,500; $1,400 was paid in cash and $2,100 will be paid on March 10. 3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $150 per night. Received $4,400 cash from admissions. 10 Paid balance due on Indiana Jones movies rental and $1,700 on March 1 accounts payable. 11 Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses $900. 20 Received $5,500 cash from customers for admissions. Received the Lord of the Rings movies and paid the rental fee of $1,500. 31 Paid salaries of $2,600. 31 Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Starr Theater of $750 ($5,000 x 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5. 31 Received $9,000 cash from customers for admissions. 20 Enter the beginning balances in the ledger. No. 101 Balance Deble Credit No. 112 Balance Debi Credit No. 140 Ralance Dehit Crudo No. 145 Balance Debi Cred No. 157 Balance Debit Credit No. 201 Balance Cash Date Explanation Ref Mar. 1 Balance Accounts Receivable Date Explanation Rer Mar. 1 Balance Land Date Explanation Ref Mar. 1 Balance Buildings Date Explanation Ref Mar. 1 Balance Equipment Date Explanation Ref Mar. 1 Balance Accounts Payable Date Explanation Mati Balance Owner' Capital Date Explanation Ref Mat. Balance Service Revenue Date Explanation Ref Mait. 1 Balance Rent Revenue Date Explanation Ref Mar. 1 Balance Advertising Expense Date Explanation Ref Mar. 1 Balance Salaries and Wages Expense Date Explanation Ref Mar. 1 Balance Ref Debit Credit No. 301 Balance Dehli Credit No. 400 Balance Debit Credit No. 429 Balance Debit Credit No. 610 Balance Debat Credit No. 726 Balance Debit Credit No. 729 Rent Expense Date Explanation Ref Debit Credit Balance Mar. 1 Balance ..ll T-Mobile LTE 1 22% 2:21 PM edugen.wileyplus.com LINK TO TETLINK TO Journalize the March transactions. Starr records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) As Titles and plants Die Cru (Received admissions) (Paid movie rental) (Paid salaries) (Paid concessions (Received admissions) ..1 T-Mobile LTE 1 22% 2:21 PM edugen.wileyplus.com Post the March journal entries to the ledger (Post entries in the order of journal entries presented in the previous question.) No. 101 Me 3,050 11 11 11 11 H 11 3 11 112 No 140 Ch 23.000 12.000 No. 112 12,000 Ne 201 31 Pregled No. 01 C 11 11 33 11 No 610 - C No. 729 11 13 ST STARR THEATER Trial Balance Debit Credit Totals Click if you would like to Show Work for this question: Open Show Work