Disney Amusement Park has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.
|
DISNEY AMUSEMENT PARK |
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|
Trial Balance |
Adjusted Trial Balance |
|||
|
Cash |
41,400 |
41,400 |
||
|
Supplies |
18,600 |
1,200 |
||
|
Prepaid Insurance |
31,900 |
8,900 |
||
|
Land |
80,000 |
80,000 |
||
|
Equipment |
120,000 |
120,000 |
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|
Accumulated Depreciation |
36,200 |
42,200 |
||
|
Accounts Payable |
14,600 |
14,600 |
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|
Unearned Admissions Revenue |
3,700 |
2,000 |
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|
Mortgage Note Payable |
50,000 |
50,000 |
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|
L. Disney, Capital |
109,700 |
109,700 |
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|
L. Disney, Drawing |
14000 |
14000 |
||
|
Admissions Revenue |
277,500 |
279,200 |
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|
Salaries Expense |
105,000 |
105,000 |
||
|
Repair Expense |
30,500 |
30,500 |
||
|
Advertising Expense |
9,400 |
9,400 |
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|
Utilities Expense |
16,900 |
16,900 |
||
|
Property Taxes Expense |
18,000 |
21,000 |
||
|
Interest Expense |
6,000 |
10,000 |
||
|
Totals |
491,700 |
491700 |
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|
Insurance Expense |
23000 |
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|
Supplies Expense |
17400 |
|||
|
Interest Payable |
4000 |
|||
|
Depreciation Expense |
6000 |
|||
|
Property Taxes Payable |
3000 |
|||
|
Totals |
504700 |
504700 |
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Instructions
(a) Prepare a complete worksheet.
(b) Prepare a classified balance sheet. (Note: $10,000 of the mortgage note payable is due for payment in the next fiscal year.)
(c) Journalize the adjusting entries using the worksheet as a basis.
(d) Journalize the closing entries using the worksheet as a basis.
(e) Prepare a post closing trial balance.