Disney Amusement Park has a fiscal year ending on September 30. Selected data from the September 30
Question:
Disney Amusement Park has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.
Instructions(a) Prepare a complete worksheet.(b) Prepare a classified balance sheet. (Note: $10,000 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.
DISNEY AMUSEMENT PARK Worksheet For the Year Ended September 30, 2010 Adjusted Trial Balance Trial Balance Cr. Dr. Cr. Dr. 41,400 Cash 41,400 Supplies Prepaid Insurance 18,600 1,200 31,900 8,900 Land 80.000 80,000 120,000 Equipment Accumulated Depreciation Accounts Payable Unearned Admissions Revenue 120,000 36,200 42,200 14,600 14.600 3,700 2,000 Mortgage Note Payable L. Disney, Capital L. Disney. Drawing 50,000 50.000 109,700 109.700 14,000 14,000 277,500 279.200 Admissions Revenue 105.000 Salaries Expense Repair Expense Advertising Expense Utilities Expense Property Taxes Expense Interest Expense 105,000 30,500 9,400 30,500 9,400 16,900 16,900 21,000 18,000 6,000 10,000 Totals 491,700 491,700 Insurance Expense Supplies Expense Interest Payable Depreciation Expense Property Taxes Payable 23,000 17.400 4,000 6,000 3,000 Totals 504,700 504.700
Step by Step Answer:
a DISNEY AMUSEMENT PARK Worksheet For the Year Ended September 30 2010 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: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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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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