neztomheducationcomhmtpx 3 points each of the following inde

nezto.mheducation.com/hm.tpx 3 points each of the following independent situations, prepare journal entries to record the initial transaction on ptember 30 and the adjustment required on October 31. (If no entry is required for a ansaction/event, select \"No Journal Entry Required\" in the first account field.) . Hockey Helpers paid $4,000 cash on September 30 to rent an arena for the months of October and b. Super Stage Shows received $16,000 on September 30 for season tickets that admit patrons toa c Risky Ventures paid $3,000 on September 30 for insurance coverage for the months of October, November theatre event that will be held twice (on October 31 and November 30) November, and December View transaction list Journal entry worksheet 6 Record the payment of $4,000 cash on September 30, to rent an arena for the months of October and November Note: Enter debits before credits, Date General Journal Debit Credit Sept. 30 O Type here to search

Solution

Date General Journal Debit Credit 1) Sept. 30 Preapaid Rent $       4,000 Cash $       4,000 (To record payment of rent in advance for October and November) 2) Sept. 30 Cash $     16,000 Unearned Service Revenue $     16,000 (To record fees receive din advance for October and November) 3) Sept. 30 Prepaid Insurance $       3,000 Cash $       3,000 (To record payment of insurance in adavnce for next months) 4) Oct. 31 Rent Expense $       2,000 Prepaid Rent $       2,000 (To record rent expense for october) Working: Prepaid rent expired in October = $       4,000 x 1/2 = $    2,000 5) Oct. 31 Unearned Service Revenue $       8,000 Service Revenue $       8,000 (To record revenue earned in October) Working: Unearned Service revenue earned in october = $     16,000 x 1/2 = $    8,000 6) Oct. 31 Insurance Expense $       1,000 Prepaid Insurance $       1,000 (To record insurance expense for the month of October) Working; Insurance expense for the month of october = $       3,000 x 1/3 = $    1,000