Rolling Hills Golf Inc. was organized on July 1, 2025. Quarterly financial statements are prepared. The unadjusted
Question:
Rolling Hills Golf Inc. was organized on July 1, 2025. Quarterly financial statements are prepared. The unadjusted trial balance and adjusted trial balance on September 30 are as follows.
Instructions
a. Journalize the adjusting entries that were made.
b. Prepare an income statement and a retained earnings statement for the 3 months ending September 30 and a classified balance sheet at September 30.
c. Identify which accounts should be closed on September 30.
d. If the note bears interest at 12%, how many months has it been outstanding?
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Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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