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Women's Summer Hockey Ltd

Accounting

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Women's Summer Hockey Ltd. (WSHL) organizes and operates a women's hockey league between April and September. Teams may register starting in January and by the end of March must prepay the registration fee in full. The registration fee of $6,300 entitles each team to four games a month from April to September inclusive. Every player receives a jersey on which the WSHL sells advertising space to local businesses. Players who prefer not to commit for the entire summer may play on a drop-in basis and only pay for individual games in which they play. For an additional fee, WSHL also offers medical insurance during the season as well as an end-of-season awards ceremony and party. At the close of registration, 12 teams had committed to the league. Once the season began, the league generated so much interest that between April and June, 290 women decided to play on a drop-in basis and paid $15 per game to participate WSHL signed up several businesses that bought advertising space on the jerseys, and it collected $16,200 in advertising revenues. WSHL also pre-sold medical insurance and collected $1.500. Between April and June WSHL collected a total of $5.900 from individuals interested in attending the end-of-season awards ceremony. The cost to organize the games between April and June was $6.800 per month, of which $14.400 was paid by the end of June. Other miscellaneous expenses totalling $9,600 were incurred and paid in cash. Journalize all the transactions to the end of June. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Do not record any adjusting entries at this time.) Date Account Titles and Explanation Debit Credit (Received for membership of teams) > (Received for advertising) (Received for medical insurance service) (Received for end of season awards ceremony) (Drop-in games) (To record cost to organize the games) (To record payment)