Question: Problem 3-9 Presented below is the trial balance of the Blossom Golf C

Question

Question:

Problem 3-9 Presented below is the trial balance of the Blossom Golf Club, Inc. as of December 31. The books are closed annually on December 31 BLOSSOM GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit $18,820 15,100 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue Utilities Expenses Salaries and Wages Expense Maintenance and Repairs Expense $1,200 9,570 352,900 150,000 48,000 198,100 92,447 362,100 183,893 198,200 5,820 19,800 56,140 84,410 26,420 $911,460 $911,460

Explanation / Answer

closing entry are the entries made to close out the temporary accounts and transfer balance to permanent accounts.

debit credit green fees revenue 5820 rent revenue 21600 dues revenue 188762 income summary 216182 income summary 200224 utility expense 56140 bad debt expense 1812 salary and wages exp 87702 maintainance and repair exp 26420 depriciation exp 24810 insurance exp 3340 income summary 15958 (216182-200224) retained earning 15958

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.