Noah's Ark has a fiscal year ending on September 30. Selected data from the September 30 work sheet are presented on the shown below.

Instructions
(a) Prepare a complete worksheet.
(b) Prepare a classified balance sheet. (Note: $10,000 of the mortgage 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.

Transcribed Image Text:

Noah's Ark Worksheet For the Year Ended September 30, 2008 Trial Balance Adjusted Trial Balance Dr. 37.400 18,600 31,900 80,000 120,000 Cr. Dr 37,400 1,200 3,900 80,000 120,000 Cr Cash Supplies Prepaid insurance Land Equipmemt Accumulated Depreciation Accounts Payable 36,200 14,600 2,700 50,000 109,700 43,000 14.600 1.700 50,000 109,700 Mortgage Payable N. Y. Berge, Capital N. Y Berge, Drawing Admissions Revenue Salaries Expense Repair Expense 14,000 14,000 278,500 279,500 109,000 30,500 9,400 16,900 18,000 6,000 491.700 109,000 30,500 9,400 16,900 21,000 12,000 Utilities Expense Property Taxes Expense Interest Expense Totals 491,700 28.000 17,400 Interest Payable Depreciation Expense Property laxes Payable 6,000 6,800 3,000 Totals 507,500 507.500