**Can anyone please help me with this problem? This will be the fourth day I'm stuck on it.
"The General's Favorite Fishing Hole"
Open from April through Sptember
Chart of Accounts
ASSETS
101-cash 142-office supplies 144-food supplies 145-prepaid insurance 181-fishing boats 181.1-accum. depr.-fishing boats
LIABILITIES
202-accounts payable 219-wages payable
REVENUES
401-registration fees
EXPENSES
511-wages expense 521-rent expense 523-office supplies expense 524-food supplies expense 525-telephone expense 533-utilities expense 535-insurance expense 536-posatge expense 542-depr. exp.-fishing boats
OWNER'S EQUITY
311-Bob Night, capital 312-Bob Night, drawing 313-income summary
The following transactions took place during April 2008:
April 1 Night invested cash in business, $90,000
1 Paid insurance premium for camping season, $9,000
2 Paid rent for lodge and camp grounds for the month of April, $40,000
2 Deposited registrataion fees, $35,000
2 Purchased 10 fishing boats on account for $60,000. The fishing boats have estimated useful lives of 5 years, at which time they will be donated to a local day camp. Arrangements have been made to pay for the boats in July.
3 Purchased food supplies from Acme Super Market on account, $7,000
5 Purchased office supplies from Gordon Office Supplies on account, $500
7 Deposited regitration fees,$38,600
10 Purchased food supplies from Acme Super Market on account, $8,200
10 Paid wages to fishing guides, $10,000
14 Deposited registration fees, $30,500
16 Purchased food supplies from Acme Super Market on account, $9,000
17 Paid wages to fishing guides, $10,000
18 Paid postage, $150
21 Deposited registration fees, $35,600
24 Purchased food supplies from Acme Super Market on account, $8,500
24 Paid wages to fishing guides, $10,000
28 Deposited registration fees, $32,000
29 Paid wages to fishing guides, $10,000
30 Purchased food supplies from Acme Super Market on account, $6,000
30 Paid Acme Super Market on account, $32,700
30 Paid utilities bill, $2,000
30 Paid telephone bill, $1,200
30 Bob Night withdrew cash for personl use, $6,000
Adjustment information for the end of April:
A) Office supplies remaining on hand, $100
B) Food supplies remaining on hand, $8,000
C) Isurance expired during the month of April, $1,500
D) Depreciation on fishing boats for the month of April, $1,000
E) Wages earned, but not yet paid, for the month of April, $500.
Required
- Enter the above transactions in a general journal. Enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remaining entries for April 30 on page 4.
- Post the entries to the general ledger.
- Prepare a trial balance on a worsheet.
- Complete the worksheet.
- Prepare the income statement.
- Prepare the statement of owner's equity.
- Prepare the balance sheet.
- Journalize the adjusting entries.
- Post the adjusting entries to the general ledger.
- Journalize the closing entries to the general ledger
- Post the closing entries to the general ledger.
- Prepare a post-closing trial balance.
**Please help, this will be the fourth day being stuck on this problem and it's due Monday.