The solutions to the problems below please P2.5A (LO 1, 2, 3, 4) The Starr Theater, owned by Meg Vargo, will begin operations in March. TheStarr will be unique in that it will show only triple features of sequential theme movies. As of March 1, theledger of Starr showed No. 101 Cash $3,000, No. 140 Land $24,000, No. 145 Buildings (concession stand,projection room, ticket booth, and screen) $10,000, No. 157 Equipment $10,000, No. 201 AccountsPayable $7,000, and No. 301 Owner's Capital $40,000. During the month of March, the following eventsand transactions occurred.Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The filmrental was $3,500; $1,500 was paid in cash and $2,000 will be paid on March 10.3Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost$200 per night.9Received $4,300 cash from admissions.10111220203131Paid balance due on Indiana Jones movies rental and $2,100 on March 1 accounts payable.Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay15% of gross concession receipts, payable monthly, for the rental of the concession stand.Paid advertising expenses $900.Received $5,000 cash from customers for admissions.Received the Lord of the Rings movies and paid the rental fee of $2,000.Paid salaries of $3,100.Received statement from Adam Ladd showing gross receipts from concessions of $6,000and the balance due to Starr Theater of $900 ($6,000 x 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5.31 Received $9,000 cash from customers for admissions.2-42 CHAPTER 2 The Recording Processd. Trial balance totals $64,100Journalize transactions, post, andprepare a trial balance.GLSIn addition to the accounts identified above, the chart of accounts includes No. 112 Accounts Receivable,No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries andWages Expense, and No. 729 Rent Expense.Instructionsa. Enter the beginning balances in the ledger. Insert a check mark (✔) in the reference column of theledger for the beginning balance.b. Journalize the March transactions. Starr records admission revenue as service revenue, rental of theconcession stand as rent revenue, and film rental expense as rent expense.c. Post the March journal entries to the ledger. Assume that all entries are posted from page 1 of thejournal.d. Prepare a trial balance on March 31, 2020. InstructionsJournalize the March transactions.P2.2A (LO 1, 2, 3, 4) Vera Ernst is a licensed dentist. During the first month of the operation of herbusiness, the following events and transactions occurred.April 1 Invested $20,000 cash in her business.123Hired a secretary-receptionist at a salary of $700 per week payable monthly.Paid office rent for the month $1,500.1011Purchased dental supplies on account from Dazzle Company $4,000.Performed dental services and billed insurance companies $5,100.Received $1,000 cash advance from Leah Mataruka for an implant.Received $2,100 cash for services performed from Michael Santos.Paid secretary-receptionist for the month $2,800.203030 Paid $2,600 to Dazzle for accounts payable due.Vera uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Sup-plies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 301 Owner's Capital, No. 400Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.Instructionsa. Journalize the transactions.b. Post to the ledger accounts.c. Prepare a trial balance on April 30, 2020.

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Description: The solutions to the problems below please P2.5A (LO 1, 2, 3, 4) The Starr Theater, owned by Meg Vargo, will begin operations in March. TheStarr will be unique in that it will show only triple features of sequential theme movies. As of March 1, thele

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P2.2A (LO 1, 2, 3, 4) Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $20,000 cash in her business. Hired a secretary-receptionist at a salary of $700 per week payable monthly. Paid office rent for the month $1,500. 1 2 3 10 11 Purchased dental supplies on account from Dazzle Company $4,000. Performed dental services and billed insurance companies $5,100. Received $1,000 cash advance from Leah Mataruka for an implant. Received $2,100 cash for services performed from Michael Santos. Paid secretary-receptionist for the month $2,800. 20 30 30 Paid $2,600 to Dazzle for accounts payable due. Vera uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Sup- plies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 301 Owner's Capital, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Instructions a. Journalize the transactions. b. Post to the ledger accounts. c. Prepare a trial balance on April 30, 2020.