The Golden Petting Zoo Operates a Drive-Through Tourist Attraction in Colorado

question 185

Essay

The Golden Petting Zoo operates a drive-through tourist attraction in Colorado. 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 buildings are being depreciated at $6,000 per year.
3. The unearned ticket revenue represents tickets sold for future zoo 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 fencing in months.
3. The number of tickets sold on April 1.
(b) Prepare the adjusting entries that were made by the Golden Petting Zoo on April 30.

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Definitions:

Outliers

Observations in a dataset that are significantly distant from the other observations, potentially indicating a measurement error or a different population.

Parameter

A numerical characteristic that describes a statistical population, such as a mean or standard deviation.

Mode

The value that appears most frequently in a data set, representing the highest peak in a distribution.

Hypothesis

A proposed explanation for a phenomenon, set forth as a starting point for further investigation through experimentation or observation.