From the text: Intermediate Accounting (15th Edition) by Kieso, Weygandt, & Warfield

Problem 3-9 (Adjusting and Closing) Presented below is a trail balance of the Crestwood Golf Club, Inc. as of December 31. The books close annually on December 31.

CRESTWOOD GOLF CLUB, INC.
Trial Balance
December 31
		Debit		Credit
Cash		$15,000
Accounts Receivable		13,000
Allowance for Doubtful Accounts				$1,100
Prepaid Insurance		9,000
Land		350,000
Buildings		120,000
Accumulated Depreciation- Buildings				38,400
Equipment		150,000
Accumulated Depreciation- Equipment				70,000
Common Stock				400,000
Retained Earnings				82,000
Dues Revenue				200,000
Green Fees Revenue				5,900
Rent Revenue				17,600
Utilities Expenses		54,000
Salaries & Wage Expense		80,000
Maintenance & Repairs Expense		24,000
		$815,000		$815,000
Instructions:
(a) Enter the balances in ledger accounts. Allow five lines for each account.
(b) From the trial balance and the information given below, prepare annual adjusting entries and post to the ledger accounts (omit explanations).
(1) The buildings have an estimated life of 30 years with no salvage value (straight-line method).
(2) The equipment depreciated at 10% per year.
(3) Insurance expired during the year $3,500.
(4) The rent revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received.
(5) It is estimated that 12% of the accounts receivable will be uncollected.
(6) Salaries and wages earned but not paid by December 31, $3,600.
(7) Dues received in advanced from member $8,900.
( c) Prepare an adjusted trial balance
(d) Prepare closing entries and post.