Answer:
<u>Date Particulars Debit Credit</u>
June 1 Cash $ 50,000
Common Stock $ 50,000
(a) Jessica contributed $50,000 cash to the company on June 1 in exchange for its common stock.
June 2 Inflatable Equipment $ 20,000
Cash $ 20,000
(b) Purchased inflatable rides and inflation equipment on June 2, paying $20,000 cash.
June 3 Cash $ 5000
Rental Revenue $ 5000
(c) Received $5,000 cash from casual hourly rentals at the mall on June 3.
Accounts Receivable $ 10000
Rental Revenue $ 10000
(d) Rented rides and equipment to customers for $10,000.
June 4 Cash $2000
Accounts Receivable $2000
(e) Received cash of $2,000 on June 4 and the rest is due from customers.
June 5 Cash $ 2,500
Unearned Revenue $2500
(f) Received $2,500 from a large corporate customer on June 5 as a deposit on a party booking for July 4.
June 6 Party Supplies $600
Accounts Payable $600
(g) Began to prepare for the July 4 party by purchasing and receiving various party supplies on June 6 on account for $600.
June 7 Rent Expense $6000
Cash $6000
(h) On June 7, paid $6,000 in cash for renting the mall space this month.
June 8 Prepaid Rent Expense $6000
Cash $6000
(i) On June 8, prepaid next month’s mall space rental charge of $6,000.
June 9 Cash $1000
Accounts Receivable $1000
(j) Received $1,000 on June 9 from customers on accounts receivable.
June 10 Advertising Expense $1000
Cash $1000
(k) Paid $1,000 for running a television ad on June 10.
June 30 Wages Expense $ 4000
Cash $ 4000
(l) Paid $4,000 in wages to employees on June 30 for work done during the month
