How will Cedar Point’s assets, liabilities, and equity be impacted by various transactions?

Photo of the main walkway at Cedar PointCedar Point is an amusement park in Sandusky, Ohio, owned by Cedar Fair Entertainment Company.  Over 3.5 million people visit Cedar Point each year between May and October. It covers 364 acres and has more than 150 rides and attractions, including 16 roller coasters.

Cedar Point is the second oldest continuously operating amusement park in the United States (the oldest is Lake Compounce in Connecticut.)

Millions of transactions occur at Cedar Point each year. The following items are examples of hypothetical Cedar Point transactions:

  • May 1: Sell admission tickets, $100,000, cash
  • May 3: Purchase merchandise inventory, $5,000, on account
  • May 6: Rent lockers to guests, $500, cash
  • May 15: Pay employees, $75,000, cash
  • May 20: Borrow money from bank by signing a six-month note, $200,000


  1. What would be the journal entry for each of the listed transactions?
  2. For each transaction, how Cedar Fair’s assets, liabilities, and equity would be impacted by each individual transaction?

Instructor Resources

These resources are provided to give the instructor flexibility for use of Accounting in the Headlines articles in the classroom. The blog posting itself can be assigned via a link to this site OR by distributing the student handout below. Alternatively, the PowerPoint file below contains a bullet point overview of the article and the discussion questions.

  • Student handout (pdf) (word) (contains entire blog posting + discussion questions)
  • PowerPoint file (brief article overview + discussion questions)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.

About Dr. Wendy Tietz, CPA, CMA, CSCA, CGMA

Dr. Wendy Tietz is a professor of accounting at Kent State University in Kent, Ohio, USA. She is also a textbook author with Pearson Education.

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