Homework%20Solutions_13th%20ed

Homework%20Solutions_13th%20ed - *PROBLEM 3-8(a(b(d Cash...

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*PROBLEM 3-8 (a), (b), (d) Cash Prepaid Insurance Salaries Expense Bal. 15,000 Bal. 9,000 Adj. 3,500 Bal. 80,000 Close 83,600 5,500 Adj. 3,600 83,600 83,600 Common Stock Bal. 400,000 Accounts Receivable Retained Earnings Maintenance Expense Bal. 13,000 Bal. 82,000 Bal. 24,000 Close 24,000 Inc. 31,640 113,640 Allow. for Doubtful Accts. Dues Revenue Depr. Expense—Buildings Bal. 1,100 Adj. 8,900 Bal. 200,000 Adj. 4,000 Close 4,000 Adj. 460 Cls. 191,100 1,560 200,000 200,000 Rev. 8,900 Land Greens Fee Revenue Depr. Expense—Equipment Bal. 350,000 Close 5,900 Bal. 5,900 Adj. 15,000 Close 15,000 Buildings Rental Revenue Accum. Depr.—Equipment Bal. 120,000 Close 19,200 Bal. 17,600 Bal. 70,000 Adj. 1,600 Adj. 15,000 19,200 19,200 85,000 Rev. 1,600 Accum. Depr.—Buildings Utilities Expense Insurance Expense Bal. 38,400 Bal. 54,000 Close 54,000 Adj. 3,500 Close 3,500 Adj. 4,000 42,400 Rent Receivable Bad Debt Expense Income Summary Adj. $1,600 Rev. 1,600 Adj. 460 Close 460 Exp. 184,560 Rev. 216,200 Inc. 31,640 216,200 216,200
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* PROBLEM 3-8 (Continued) Salaries Payable Unearned Dues Revenue Adj. 3,600 Adj. 8,900 Equipment Bal. 150,000 (b) -1- Depreciation Expense—Buildings ......................... 4,000 Accumulated Depreciation—Buildings (1/30 X $120,000) ........................................... 4,000 -2- Depreciation Expense—Equipment ....................... 15,000 Accumulated Depreciation—Equipment (10% X $150,000) .......................................... 15,000 -3- Insurance Expense .................................................. 3,500
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