Presented below is the trial balance of the Bonita Golf Club, Inc. as of December 31. The books are closed annually on December 31.

BONITA GOLF CLUB, INC.

TRIAL BALANCE

DECEMBER 31

Debit

Credit

Cash $16,630

Accounts Receivable 14,600

Allowance for Doubtful Accounts $1,100

Prepaid Insurance 9,240

Land 367,100

Buildings 150,000

Accumulated Depreciation-Buildings 37,971

Equipment 161,600

Accumulated Depreciation-Equipment 74,040

Common Stock 361,600

Retained Earnings 176,272

Dues Revenue 211,700

Green Fees Revenue 6,187

Rent Revenue 18,700

Utilities Expenses 58,700

Salaries and Wages Expense 81,400

Maintenance and Repairs Expense

28,300

$887,570

$887,570

Enter the balances in ledger accounts.

Cash

Accounts Receivable

Allow. for Doubtful Accts.

Land

Buildings

Accum. Depr.Buildings

Equipment

Prepaid Insurance

Common Stock

Retained Earnings

Dues Revenue

Green Fees Revenue

Rent Revenue

Utilities Expenses

Salaries and Wages Expense

Maintenance and Repairs Expense

Accum. Depr.Equipment

eTextbook and Media

List of Accounts

Question Part Score--/0.83

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 0 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 $3,420.

(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, $3,272.

(7) Dues received in advance from members $8,870, were recorded as Dues Revenue.

No.

Account Titles and Explanation

Debit

Credit

1.

2.

3.

4.

5.

6.

7.

eTextbook and Media

List of Accounts

Question Part Score--/0.83

Post adjusting entries to the ledger accounts. (Post entries in the order as displayed in the part above.)

Cash

Bal.

16,630

Accounts Receivable

Bal.

14,600

Allow. for Doubtful Accts.

Bal.

1,100

Land

Bal.

367,100

Buildings

Bal.

150,000

Accum. Depr.Buildings

Bal.

37,971

Rent Receivable

Salaries and Wages Payable

Equipment

Bal.

161,600

Prepaid Insurance

Bal.

9,240

Common Stock

Bal.

361,600

Retained Earnings

Bal.

176,272

Dues Revenue

Bal.

211,700

Green Fees Revenue

Bal.

6,187

Rent Revenue

Bal.

18,700

Utilities Expenses

Bal.

58,700

Bad Debt Expense

Unearned Dues Revenue

Salaries and Wages Expense

Bal.

81,400

Maintenance and Repairs Expense

Bal.

28,300

Depreciation Expense

Accum. Depr.Equipment

Bal.

74,040

Insurance Expense

eTextbook and Media

List of Accounts

Question Part Score--/0.83

Prepare an adjusted trial balance.

BONITA GOLF CLUB, INC.

Adjusted Trial Balance

December 31, XXXX

Debit

Credit

$

$

$

$

eTextbook and Media

List of Accounts

Question Part Score--/0.83

Prepare closing 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 0 for the amounts.)

No.

Account Titles and Explanation

Debit

Credit

1.

(To close revenue accounts)

2.

(To close expense accounts)

3.

(To close net income / (loss))

eTextbook and Media

List of Accounts

Question Part Score--/0.84

Post closing entries.

Cash

Bal.

16,630

Accounts Receivable

Bal.

14,600

Allow. for Doubtful Accts.

Bal.

1,100

Adj.

652

1,752

Land

Bal.

367,100

Buildings

Bal.

150,000

Accum. Depr.Buildings

Bal.

37,971

Adj.

5,000

42,971

Rent Receivable

Adj.

1,700

Salaries and Wages Payable

Adj.

3,272

Equipment

Bal.

161,600

Prepaid Insurance

Bal.

9,240

Adj.

3,420

5,820

Common Stock

Bal.

361,600

Retained Earnings

Bal.

176,272

Dues Revenue

Adj.

8,870

Bal.

211,700

Green Fees Revenue

Bal.

6,187

Rent Revenue

Bal.

18,700

Adj.

1,700

Utilities Expenses

Bal.

58,700

Bad Debt Expense

Adj.

652

Unearned Dues Revenue

Adj.

8,870

Salaries and Wages Expense

Bal.

81,400

Adj.

3,272

Maintenance and Repairs Expense

Bal.

28,300

Depreciation Expense

Adj.

21,160

Accum. Depr.Equipment

Bal.

74,040

Adj.

16,160

90,200

Insurance Expense

Adj.

3,420

Income Summary