The National Koala Park operates a tourist attraction in Pennant Hills. The entity adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on 30 April. The adjusted trial balance shows the following:
Other data:
1. Three months' rent had been prepaid on 1 April.
2. The fencing is being depreciated at $6,000 per year.
3. The revenue received in advance represents tickets sold for future park visits. The tickets were sold at $4.00 each on 1 April. During April, 25 of the tickets were used by customers.
Instructions:
(a) Calculate the following:
1. Monthly rent expense.
2. The age of the fencing in months.
3. The number of tickets sold on 1 April.
(b) Prepare the adjusting entries that were made by the National Koala Park on 30 April.

Question

The National Koala Park operates a tourist attraction in Pennant Hills. The entity adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on 30 April. The adjusted trial balance shows the following:
  Other data:
1. Three months' rent had been prepaid on 1 April.
2. The fencing is being depreciated at $6,000 per year.
3. The revenue received in advance represents tickets sold for future park visits. The tickets were sold at $4.00 each on 1 April. During April, 25 of the tickets were used by customers.
Instructions:
(a) Calculate the following:
 1. Monthly rent expense.
 2. The age of the fencing in months.
 3. The number of tickets sold on 1 April.
(b) Prepare the adjusting entries that were made by the National Koala Park on 30 April.

Quizplus · Accepted Answer

The Answer of The National Koala Park operates a tourist attraction in Pennant Hills. The entity adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on 30 April. The adjusted trial balance shows the following:
  Other data:
1. Three months' rent had been prepaid on 1 April.
2. The fencing is being depreciated at $6,000 per year.
3. The revenue received in advance represents tickets sold for future park visits. The tickets were sold at $4.00 each on 1 April. During April, 25 of the tickets were used by customers.
Instructions:
(a) Calculate the following:
 1. Monthly rent expense.
 2. The age of the fencing in months.
 3. The number of tickets sold on 1 April.
(b) Prepare the adjusting entries that were made by the National Koala Park on 30 April.

The National Koala Park Operates a Tourist Attraction in Pennant