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-JanJack Strange, the owner, invested $50,000 in the business.5-JanPurchased equipment for $100,000 on account from The Gotham Company.8-JanIncurred advertising expense of $1,800 on account from Mr. Freeze Agency.11-JanPaid salaries to employees, $1,500 12-JanPaid the cell phone bill, $200.13-JanPaid $1,500 for a 1-year insurance policy.17-JanJack Strange withdrew $600 cash for personal use.20-JanReceived $5,700 in cash for admission fees.22-JanBilled corporate customers $3,000 for using the park earlier today.25-JanCollected $2,500 from customers in advance of using the park.30-JanPaid $700 on account for the advertising incurred back on January 8.The following accounts are used in the Super Hero Theme Park:Cash, Accounts ReceivablePrepaid InsuranceEquipmentAccounts PayableUnearned Admission RevenueJack Strange, CapitalJack Strange, DrawingAdmission RevenueAdvertising ExpenseSalaries ExpenseTelephone ExpenseComplete the following:Journalize the January transactions.Post transactions to the General Ledger.Prepare a Trial Balance.Prepare an Income Statement.Prepare a Statement of Owner’s Equity.Prepare a Balance Sheet.
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