problem 3-9, golf club

= o A E as a waye WZUZU, Wat was ut varit u daati am wage rayauiCUIT DE DET 35 zury P3-9 (LO 2, 3, 4) (Adjusting and Closing) Presented below is the trial balance of the Crestwood Golf Club, Inc. as of December 31. The books are closed annually on December ji. 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 and Wages Expense 80,000 Maintenance and Repairs Expense 24,000 $815.000 $815.000 Instructions 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 is 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 uncollectible. 6. Salaries and wages earned but not paid by December 31, $3,600. 7. Dues received in advance from members $8,900 were recorded as Dues Revenue. c. Prepare an adjusted trial balance. d. Prepare closing entries and post. Lydiustine and Closing Presented below is the December 31 trial balance of New York Boutique. SIGN IN TO OFFICE It looks like your stored credentials are out of date. Please sign in as mckeenan@cincinnatistate.edu so we can verify your subscription Sign E6 XV fox A C D F G H $ Name: Problem 3-9, Instructions (b) & (d) Assignment: pages 3-68 & 3-69 2 3 Date 4 Account Title Rf Debit Credit LO 5 6 7 N 00 9 10 MAN 12 13 15 16 17 12 ALPcelar 18 20 E F G H A 10 Accounts Receivable 11 Allowance for Doubtful Accounts 12 Prepaid Insurance 13 Land 14 Buildings 15 Accumulated Depreciation - Buildings 16 Equipment 17 Accumulated Depreciation - Equipment 18 Common Stock 19 Retained Earnings 20 Dues Revenue 21 Green Fees Revenue 22 Rent Revenue 23 Utilities Expenses 24 Salaries and Wages Expense 25 Maintenance and Repairs Expense 26 B $ 13,000 $ 1.100 $ 9,000 $ 350,000 $ 120,000 $ 38,400 $ 150,000 $ 70,000 $ 400 000 S82 000 $ 200 000 $ 5.900 $ 17,600 S 54,000 S 80,000 $ 24,000 S815,000 $815,000 27 28 29 30 LE Copy to Wrap Text General Paste U Eva A Format Painter -- += E Merge & Center $ %, Insert Delete For Undo Clipboard Conditional Format as Cell Formatting Table Styles Styles Font F Alignment Number SIGN IN TO OFFICE It looks like your stored credentials are out of date. Please sign in as mekeenan@cincinnatistate.edu so we can verify your subscription. Cells Sign In H15 A B D E F G H K M. N P R 1 Name: Q 2 Assignment: Problem 3-9, Additional Requirement pages 3-68 & 3-69 Prepare the income statement, statement of retained earnings and the classified balance sheet for Crestwood Golf Club. Inc. for the year ending December 31 OUMAN 3 4 5 8 9 10 11 12 13 14 15 16