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Comprehensive problem 2 for heintz and parry 20th college accounting

Assets		Revenues
101	Cash	401	Registration Fees
122	Accounts Receivable	404	Vending Revenue
142	Office Supplies
144	Food Supplies	Expenses
145	Prepaid Insurance	511	Wages Expense
146	Prepaid Subscriptions	512	Advertising Expense
161	Land	521	Rent Expense
171	Building	523	Office Supplies Expense
171.1	Accum. Depr.--Buildings	524	Food Supplies Expense
181	Fishing Boats	525	Telephone Expense
181.1	Accum. Depr.--Fishing Boats	533	Utilities Expense
182	Surround Sound System	535	Insurance Expense
182.1	Accum. Depr.--Surround Sound Sys.	536	Postage Expense
183	Big Screen TV	537	Repair Expense
183.1	Accum. Depr.--Big Screen TV	540	Depr. Exp.--Buildings
		541	Depr. Exp.--Surround Sound Sys.
Liabilities		542	Depr. Exp.--Fishing Boats
202	Accounts Payable	543	Depr. Exp.--Big Screen TV
219	Wages Payable	546	Satellite Programming. Exp.
		548	Subscriptions Expense
Owner's Equity
311	Bob Night, Capital
312	Bob Night, Drawing
313	Income Summary

The following transactions took place during May 20--

May

1 In order to provide snacks for guests on a 24 hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May.

2 Night purchased a surround sound system and big screen TV with a Digital Satellite System for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of 5 years, and no salvage value. The TV cost $8,000 and has an estimated useful life of 8 years, and a salvage value of $800. Night paid cash for both items.

2 Paid for May

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