B:

C:

Post to the Ledger Accounts

D:

Prepare Closing entries

Presented below is the trial balance of the Sheridan Golf Club, Inc. as of December 31. The books are closed annually on December 31. Credit $1,200 34,927 SHERIDAN GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Cash $18,820 Accounts Receivable 13,200 Allowance for Doubtful Accounts Prepaid Insurance 9,090 Land 374,500 Buildings 150,000 Accumulated Depreciation-Buildings Equipment 166,400 Accumulated Depreciation-Equipment Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue Utilities Expenses 56,140 Salaries and Wages Expense 83,980 Maintenance and Repairs Expense 25.480 $897,610 68,850 405,900 169,834 194.800 5,599 16,500 $897,610 (11) From the trial balance and the information given below, prepare annual adjusting entries. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts.) (1) The buildings have an estimated life of 30 years with no salvage value (straight-line method). (2) The equipment is depreciated at 10% per year. (3) Insurance expired during the year $3,540. (4) The rent revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received. (Use Rent Receivable account.) (5) It is estimated that 12% of the accounts receivable will be uncollectible. (6) Salaries and wages earned but not paid by December 31,$3,954. (7) Dues received in advance from members $8,165, were recorded as Dues Revenue. No. Account Titles and Explanation Debit Credit 1