Noah Amusement Park has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.
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NOAH AMUSEMENT PARK |
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Worksheet |
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For the Year Ended September 30, 2012 |
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Adjusted |
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Trial Balance |
Trial Balance |
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Dr. |
Cr. |
Dr. |
Cr. |
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Cash |
41,400 |
41,400 |
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Supplies |
18,600 |
2,200 |
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Prepaid Insurance |
31,900 |
10,900 |
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Land |
80,000 |
80,000 |
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Equipment |
120,000 |
120,000 |
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Accumulated Depreciation—Equip. |
36,200 |
42,200 |
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Accounts Payable |
14,600 |
14,600 |
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Unearned Ticket Revenue |
3,700 |
1,000 |
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Mortgage Payable |
50,000 |
50,000 |
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Owner’s Capital |
109,700 |
109,700 |
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Owner’s Drawings |
14,000 |
14,000 |
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Ticket Revenue |
277,500 |
277,500 |
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Salaries and Wages Expense |
105,000 |
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Maintenance and Repairs Expense |
30,500 |
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Advertising Expense |
9,400 |
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Utilities Expense |
16,900 |
21,000 |
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Property Tax Expense |
18,000 |
10,000 |
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Interest Expense |
6,000 |
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Totals |
491,700 |
491,700 |
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Insurance Expense |
21,000 |
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Supplies Expense |
16,400 |
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Interest Payable |
4,000 |
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Depreciation Expense |
6,000 |
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Property Taxes Payable |
3,000 |
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Totals |
504,700 |
504,700 |
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Instructions
(a) Prepare a complete worksheet.
(b) Prepare a classified balance sheet. (Note: $15,000 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.