The Waterway Theater, owned by Meg Vargo, will begin operations in March. The Waterway will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Waterway showed: Cash No. 101 $2,950, 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 Accounts Payable $7,400, and No. 301 Owner's Capital $39,550, During the month of March, the following events and transactions occurred. Mar. 2 3 9 10 11 12 20 20 31 31 31 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,400; $1,600 was paid in cash and $1,800 will be paid on March 10. Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $190 per night. Received $4,200 cash from admissions. Paid balance due on Indiana Jones movies rental and $1,600 on March 1 accounts payable. Waterway Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand. Paid advertising expenses $800. Received $5,300 cash from customers for admissions. Received the Lord of the Rings movies and paid the rental fee of $1,900. Paid salaries of $3,200. Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Waterway Theater of $750 ($5,000 x 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5. Received $8,900 cash from customers for admissions.
The Waterway Theater, owned by Meg Vargo, will begin operations in March. The Waterway will be unique in that it will show only triple features of sequential theme movies. As of March 1, the fedger bf Waterway showed: Cash No, 101 \$2,950. No, 140 Land $24,000,No,145 Buldings (concession stand, projection room, ticket booth, and screen) $10,000,Na,157 Equipment $10,000,Na. 201 Accounts Payable \$7,400, and No, 301 Owner's Capital \$39,\$50, During the month of March, the following events and transactions occurred. Mar,2 Rented the three indiand Jones movies to be shown for the first 3 weeks of March. The film rental was $3,400;51,600 was paid in cash and $1.800 will be paid on March 10. 3 Ordered the Lord of the Rings mavies to be shown the last 10 days of March it will cost $190 per night. 9. Recelved $4,200 cash from admissions. 10 Paid balance due on indiand Jones movies rental and \$1,600 on March 1 accounts payable. 11 Waterway Theator contracted with Adam Ladd to operate the concession stand. Ladd ls to pay 15% of eross concession receipts, payable monthly. for the rental of the concessionstand. 12 Paid adverthing expenses 5800 20 Recelved $5,300 cash from customers for admissions. 20 Received the tord of the Rings movies and paid the rental fee of 51,900 31 Paid salaries of $3,200. 31 Received statement from Adsm Ladd thowing gross receipts from concessions of 55.000 and the bulance due to Waterway Theater of 5750 (\$5,000 * 15% for March. Ladd pald one-hal the balance due and wil remit the remaindee on Aprits. 31 Received $9,900 cath from cuntomers for adinisulons
