Bel Air Golf Course adjusts and closes its accounts at the end of each calendar year.

Revenue is obtained from greens fees and also from a contract with a concessionaire who sells refreshments on the premises. At December 31, the information for adjust¬

ments was gathered and a work sheet was prepared. The first four columns of the work sheet contained the account balances and adjustments shown at the top of page 163. LO8

Instructions Using the data above, complete the work sheet by listing the appropri¬
ate amounts in the remaining six columns of the work sheet. Follow the work sheet format illustrated on page 146.

Transcribed Image Text:

Trial Balance Dr Adjustments" Cr Dr Cr Cash 10,920 Unexpired insurance 2,520 Prepaid advertising 1,200 (a) 840 (b) 360 Land 450,000 Equipment 57,600 Accumulated depreciation: equipment. 9,600 (f) 4,800 Notes payable 72,000 Unearned revenue from concessions 9,000 (d) 6,000 Walter Nelson, capital. 371,000 Walter Nelson, drawing 18,000 Revenue from greens fees 220,000 Advertising expense 6,600 (b) 360 Water expense. 12,480 Salaries expense. 94,680 (e) 1,320 Repairs and maintenance expense 21,000 Miscellaneous expense. 6,600 681,600 681,600 Insurance expense. Interest expense. Interest payable 69 (a) 840 (c) 480 (c) 480 (d) 6,000 Revenue from concessions Salaries payable Depreciation expense: equipment (f) 4,800 (e) 1,320 13,800 13,800