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
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
Students also viewed these Accounting questions
-
Noah 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...
-
Excelsior 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...
-
Avalon 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...
-
1. differences between debt financing and equity financing 2. accounting differences between preferred stock and common shares. 3. accounting for treasury shares; why do firms want to buy back their...
-
Refer to the data for Beyta Company above. During the most recent year, Beyta Company had the following data: Units in beginning inventory.......................- Units...
-
Describe the three different types of managers.
-
A fertility rate is the number of births per 1000 women aged 15-44. The mean fertility rate of the 50 U.S. states for a recent year was 59.0 with a standard deviation of 5.47. A random sample of 40...
-
Consider the following network for conducting a two week (10 working days) computer training class: (a) Construct a schedule showing: ESs for all activities LSs for all activities Slacks for all...
-
Sheridan Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Sheridan Corp. requests you as its independent CPA to...
-
1. Using the framework in Figure 9-4, how would you categorize each of the three customer segments? 2. How should Johnson Snacks respond to the letter from Discount 2 You? Murray Griffin, manager of...
-
The completed financial statement columns of the worksheet for Woods Company are shown below. Instructions(a) Prepare an income statement, owner??s equity statement, and a classified balance sheet.S....
-
Laura Eddy opened Eddys Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,000 cash in the business. 1 Purchased used truck for $6,000, paying...
-
In this exercise, you modify the application from Exercise 4. Use Windows to make a copy of the Planets Solution folder. Rename the copy Planets Solution-Sub. Open the Planets Solution (Planets...
-
For Part 5 of Operation Competitor, you will present the Operation Competitor (Apple, Inc) report to the board of directors containing the research done on the legal climate for the laptop launch....
-
Record transactions in MYOB in the financial year corresponding with the financial year in which you are completing this assessment unless otherwise specified. For example, if you are completing this...
-
Discuss sentiment analysis in relation to threat actors and predicting future attacks. What defenses could be used to combat domain generation algorithms DGA? How helpful is a historical analysis?...
-
Becoming a Split-Department Manager Imagine that you are the manager of a department, the function of which is to provide service in your chosen profession. In other words, if your career is medical...
-
Using the case study of a Nike company in Canada with an ethical dimension in a specific country (for example, water privatization, the use of toxic fertilizers, the environmental impact of an oil...
-
What is an ergodic process?
-
D Which of the following is considered part of the Controlling activity of managerial accounting? O Choosing to purchase raw materials from one supplier versus another O Choosing the allocation base...
-
What is the sum of rotational delay and seek time called?
-
For the year ended December 31, 2014, the job cost sheets of Cinta Company contained the following data. Other data: 1. Raw materials inventory totaled $15,000 on January 1. During the year, $140,000...
-
Huegel Hollow Resort has ordered 20 rotomolded kayaks from Current Designs. Each kayak will be formed in the rotomolded oven, cooled, and then the excess plastic trimmed away. Then, the hatches,...
-
Huegel Hollow Resort has ordered 20 rotomolded kayaks from Current Designs. Each kayak will be formed in the rotomolded oven, cooled, and then the excess plastic trimmed away. Then, the hatches,...
-
The rate at which a collection of the same radioactive atoms will decay depends on: Group of answer choices the amount of light falling on the material only on internal processes within the atoms;...
-
Joseph Saddler, known as Grand Master Flash, was known for his innovations with what device? Group of answer choices Drum machines Sound on Sound on magnetic tape The Guitar Turntables
-
At the event horizon, the time clock goes to Group of answer choices zero infinity not a number
Study smarter with the SolutionInn App