Reference no: EM133140616

Question - 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-Jan Jack Strange, the owner, invested $50,000 in the business.

5-Jan Purchased equipment for $100,000 on account from The Gotham Company.

8-Jan Incurred advertising expense of $1,800 on account from Mr. Freeze Agency.

11-Jan Paid salaries to employees, $1,500

12-Jan Paid the cell phone bill, $200.

13-Jan Paid $1,500 for a 1-year insurance policy.

17-Jan Jack Strange withdrew $600 cash for personal use.

20-Jan Received $5,700 in cash for admission fees.

22-Jan Billed corporate customers $3,000 for using the park earlier today.

25-Jan Collected $2,500 from customers in advance of using the park.

30-Jan Paid $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 Expense

Required - Complete the following:

1. Journalize the January transactions.

2. Post transactions to the General Ledger.

3. Prepare a Trial Balance.

4. Prepare an Income Statement.

5. Prepare a Statement of Owner's Equity.

6. Prepare a Balance Sheet.