Avalon Amusement Park has a fiscal year ending on September 30. Selected data from the September 30
Question:
Instructions
(a) Prepare a complete worksheet.
(b) Prepare a classified balance sheet. (: $15,000 of the mortgage note payable is due for payment in the next fiscal year.)
(c) Journalize the adjusting entries using the worksheet as a basis.
(d) Journalize the closing entries using the worksheet as a basis.
(e) Prepare a post-closing trialbalance.
AVALON AMUSEMENT PARK Worksheet For the Year Ended September 30, 2014 Adjusted Trial Balance Trial Balance Cr Cash Supplies Prepaid Insurance Land Equipment Accumulated Depreciation-Equip Accounts Payable Unearned Ticket Revenue Mortgage Payable Owner's Capital Owner's Drawings Ticket Revenue Salaries and Wages Expense Maintenance and Repairs Expense Advertising Expense Utilities Expense Property Tax Expense Interest Expense 41,400 18,600 31,900 80,000 120,000 41,400 2,200 10,900 80,000 120,000 36,200 14,600 3,700 50,000 109,700 42,200 14,600 1,000 50,000 109,700 14,000 14,000 277,500 280,200 105,000 30,500 9,400 16,900 18,000 6,000 491,700 105,000 30,500 9,400 16,900 21,000 10,000 Totals 491,700 Insurance Expense Supplies Expense Interest Payable Depreciation Expense Property Taxes Payable 21,000 16,400 6,000 504,700 4,000 3,000 504,700 Totals
Step by Step Answer:
a AVALON AMUSEMENT PARK Worksheet For the Year Ended September 30 2014 Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr Cash ...View the full answer
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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