Problem 3-12

Bonita Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.

BONITA COMPANY Worksheet For The Month Ended September 30, 2017
		Trial Balance				Adjusted Trial Balance
		Debit		Credit		Debit		Credit
Cash		40,240				40,240
Supplies		21,440				4,583
Prepaid Insurance		31,900				3,703
Land		88,680				88,680
Equipment		128,680				128,680
Accumulated Depreciation-Equipment				39,040				44,850
Accounts Payable				17,440				17,440
Unearned Service Revenue				3,490				705
Mortgage Payable				55,680				55,680
Common Stock				116,380				116,380
Retained Earnings, Sept. 1, 2017				2,000				2,000
Dividends		14,000				14,000
Service Revenue				287,180				289,965
Salaries and Wages Expense		108,210				108,210
Maintenance and Repairs Expense		33,340				33,340
Advertising Expense		9,400				9,400
Utilities Expenses		19,740				19,740
Property Tax Expense		18,790				23,030
Interest Expense		6,790				12,630
Totals		521,210		521,210
Insurance Expense						28,197
Supplies Expense						16,857
Interest Payable								5,840
Depreciation Expense						5,810
Property Taxes Payable								4,240
Totals						537,100		537,100 Prepare a complete worksheet. Prepare a classified balance sheet. (Note: $10,000 of the mortgage payable is due for payment in the next fiscal year.) (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Journalize the adjusting entries using the worksheet as a basis. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize the closing entries using the worksheet as a basis. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare a post-closing trial balance.