Disney Amusement Park, Inc. has a fiscal year ending on September 30. Selected data from the September
Question:
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, INC. For the Year Ended September 30, 2011 Adjusted Trial Balance Trial Balance Dr. 41,400 18,600 31,900 Cr. 41,400 1200 8,900 80,000 120,000 Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Accounts Payable Unearned Admissions Revenue Mortgage Note Payable Common Stock Retained Earnings Dividends Admissions Revenue Salaries Expense Repair Expense Advertising Expense Utilities Expense Property Taxes Expense Interest Expense 120,000 36,200 14,600 3.700 50,000 100,000 14,600 100,000 14,000 14,000 277,500 279,200 105,000 30,500 105,000 16,900 18,000 6,000 491,700 16,900 21,000 10,000 Totals Insurance Expense Supplies Expense Interest Payable Depreciation Expense Property Taxes Payable 491,700 17.400 4,000 3,000 504.700 Totals 504,700
Step by Step Answer:
a DISNEY AMUSEMENT PARK INC Worksheet For the Year Ended September 30 2011 Account Titles Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr ...View the full answer
Financial Accounting
ISBN: 978-0470507018
7th 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
-
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...
-
Salvador Amusement Park, Inc 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...
-
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...
-
Shapiro Inc. was incorporated in 2013 to operate as a computer software service firm with an accounting fiscal year ending August 31. Shapiro's primary product is a sophisticated online...
-
Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume that payment is made either on the discount date or on the due date. a. 1 10, net 20 b. 2 10, net...
-
The fairness of the South African lottery was recently challenged by one of the country's political parties. The lottery publishes historical statis¬tics at its website...
-
Tattle Company engaged in the following transactions in October 20xx: Oct. 7 Sold merchandise on credit to Lina Ortiz, terms n/30, FOB shipping point, $6,000 (cost, $3,600). 8 Purchased merchandise...
-
Martys Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the...
-
Question 3 0/2 pts 5 2 37 The domain of the function f(a) = is all real numbers except for 11x - 12 Question Help: Message instructor Calculator Check Answer 2,160 A OCT O 2 X
-
Reconsider Case 3-5. The Springfield School Board still has the policy of providing busing for all middle school students who must travel more than approximately a mile. Another current policy is to...
-
The completed financial statement columns of the worksheet for Woods Company Inc. are shown below. Instructions (a) Prepare an income statement, a retained earnings statement, and a classified...
-
Joe Edmonds, CPA, was retained by Clark Cable Inc. to prepare financial statements for April 2011. Edmonds accumulated all the ledger balances per Clarks records and found the following. Joe Edmonds...
-
A researcher is interested in finding out if college-bound high school students tend to smoke cigarettes less than high school students who are not college-bound. He distributes a questionnaire and...
-
As the HR manager for Raggamuffin, a two - hundred - person company, you tend to have a pretty good sense of employee morale. Recently, you are concerned because it seems that morale is low due to...
-
A risk-free, zero-coupon bond with a face value of $5,000 has 10 years to maturity. If the YTM is 4.5%, what price is this bond will trade at?
-
3. What will happen to stock price if the number of years in the forecast period is changed, and you add 10 years
-
Develop a DH table for the figure and set up it in MATLAB ai d 05 COCO OCE 11 a
-
wedding project sells engagement rings and we are informed of the following figueres: coverage rate 4 0 % , fixed costs 4 0 million, variable ubit costs $ 1 5 0 0 turnover 8 0 million. A ) calculate...
-
Using hot connection on the Live Scope in Experiment 10C, compare the plant output (C) with the sensor output (Y). a. Are they similar? b. If so, does this imply sensor phase lag is not a significant...
-
Show that the block upper triangular matrix A in Example 5 is invertible if and only if both A 11 and A 22 are invertible. Data from in Example 5 EXAMPLE 5 A matrix of the form A = [ A11 A12 0 A22 is...
-
Use the cross product to find the area of the triangle whose vertices are (1, 3, 1), (2, 1, 3), and (4, 1, 1).
-
Tracy Harper has a $39,000 capital balance in a partnership. She sells her interest to Kim Remington for $45,000 cash. What entry is made by the partnership for this transaction?
-
Debbie Perry retires from the partnership of Garland, Newlin, and Perry. She receives $85,000 of partnership assets in settlement of her capital balance of $77,000. Assuming that the income-sharing...
-
Debbie Perry retires from the partnership of Garland, Newlin, and Perry. She receives $85,000 of partnership assets in settlement of her capital balance of $77,000. Assuming that the income-sharing...
-
Analyze the process costing system used by Ford Motor Company in its manufacturing plants. Last year, one of Ford's plants incurred total costs of $5,000,000. During the same period, the plant...
-
Transfer Pricing at Intel Values: Item Amount Production Cost $65 per unit Profit Margin 22% Requirements: Determine the minimum transfer price. Evaluate the impact of the transfer pricing on...
-
Presented below are a number of balance sheet items for Crane, Inc. for the current year, 2 0 2 5 . Presented below are a number of balance sheet items for Crane, Inc. for the current year, 2 0 2 5 ....
Study smarter with the SolutionInn App