The Poway Animal Encounters Operates a Drive Through Tourist Attraction

question 176

Essay

The Poway Animal Encounters operates a drive through tourist attraction. The company adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on April 30. The adjusted trial balance shows the following: Other data:
1. Three months' rent had been prepaid on April 1.
2. The equipment is being depreciated at $6,000 per year.
3. The unearned ticket revenue represents tickets sold for future visits. The tickets were sold at $4.00 each on April 1. During April, twenty of the tickets were used by customers.
Instructions
(a) Calculate the following:
1. Monthly rent expense.
2. The age of the equipment in months.
3. The number of tickets sold on April 1.
(b) Prepare the adjusting entries that were made by the Poway Animal Encounters on April 30.

Define and differentiate between drug's brand names and generic names.

Explain the immune response process to an antigen.

Describe the process of prescribing and dispensing drugs.

Recognize the importance of DEA numbers in the prescription of controlled substances.

---

Definitions:

Total Asset Turnover

An activity ratio that measures how efficiently the firm uses all of its assets to generate sales; a high ratio generally reflects good overall management.

Efficiently

Performing tasks in the most effective way with the least waste of time and effort.

Assets

Economic resources owned or controlled by an individual or organization that are expected to produce positive economic value.

Return on Equity

A measure of financial performance calculated by dividing net income by shareholders' equity, indicating how efficiently a company uses investments to generate earnings growth.