AC107 College Accounting: Week 7 (Ex 14-6A, Ex14-3A, E14Apx-1A, E14Apx-2A)

AC107 College Accounting 
Week 7 (Ex 14-6A, Ex14-3A, E14Apx-1A, E14Apx-2A) 

The following partial worksheet is taken from the books of Kelly's Kittens, a local pet kennel for the year ended December 31, 2011. 
Journalize the adjustments in the general journal. Be sure to include a description of the entry on the bottom row. 

Record the following journal entries to record the sale of season tickets by the Florence County Playhouse and recognition of ticket revenue earned. 

(a) Sold 1,500 season tickets at $30 each, receiving cash of $45,000. 
(b) An end-of-period adjustment is needed to recognize that $35,000 in ticket revenue has been earned. 

E14-1A (Apx) 
Analyze the following adjustment information and prepare the adjusting journal entries using the expense method described in the Chapter 14 Appendix. There is no posting reference to record. 
Davidson's Food Mart paid $1,200 in advance to the local newspaper for advertisements that will appear monthly. The following entry was made: 
At the end of the year, December 31, 20--, Davidson received notification that advertisements costing $800 had been run. Preapare the adjusting entry. 

E14-2A (Apx) 
Ryan's Fish House purchased supplies costing $3,000 for cash. This amount was debited to the supplies expense account. At the end of the year, December 31, 20--, an inventory count showed that supplies costing $500 remained. Prepare the adjusting entry.
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