Question

Presented below is the trial balance of the Sheridan Golf Club, Inc. as of December 31. The books are closed annually on December 31. Credit $1,200 34,927 SHERIDAN GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Cash $18,820 Accounts Receivable 13,200 Allowance for Doubtful Accounts Prepaid Insurance 9,090 Land 374,500 Buildings 150,000 Accumulated Depreciation-Buildings Equipment 166,400 Accumulated Depreciation-Equipment Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue Utilities Expenses 56,140 Salaries and Wages Expense 83,980 Maintenance and Repairs Expense 25.480 $897,610 68,850 405,900 169,834 194.800 5,599 16,500 $897,610

B:

C:

Post to the Ledger Accounts

D:

Prepare Closing entries

Answer 1

Bimal Po No Sovo Depreciating Expense soos Auwmulated deprecishon-Building Depreciation Expense 16640 Aules.poulsted Deposciation - Ego 16640 2 3.9 Insurance Expense 3540 3540 Parohen pecetugot 1472 Rent Revenue 1472 Bad ctobts Expenne Accounts Receivable 5 Bad debts Expense 1584 Allowance for Doubtfed Anoush 1584 Salaist & wages Expense 3954 Sadares weges Payable 3954 Dues Revenue 8165 Advanne Dues 8165 Deprecjohon Expense Acc. Dep. Building 34927 16640 5000 (21640 139927 Acc. Dep. on Equipment 116640 185,490) on EO

Bimal Date: Page Nc. Insurance Expenu — Prepaid Insmane gogo 3500 3540 5550 13540 Rent Receivable 1472 Rent Revenue 16500 1472 117972 1472 1200 1584 Bed Debts Expense Allowance for doubtful AR 1584 T1584 [2784 1 Saderies beweyes Esp. Salaries & Wajes Payable 83.980 13954 3954 187934 3954 Due Revenue Advance Dues 8165/194800 8165 1186635 18165

Date: Pago No. Closing Entries > > Dues Revenue 186635 Creen Fees Revonue 5599 Rent Revenue 17972 Income Summary 210206 Income Summary 196318 Utilities Expenses 56140 Salaries & wages Espe 87934 Maintenanced Repeti's Expo 25480 Insmance Expense 3540 Depeculation Exp. 2/6YO Bad debts Expense 1584