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Problem 3-9 (Part Level Submission) Presented below is the trial balance of the Pearl Golf Club,...

Problem 3-9 (Part Level Submission)

Presented below is the trial balance of the Pearl Golf Club, Inc. as of December 31. The books are closed annually on December 31.

PEARL GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31
	Debit	Credit
Cash	$15,320
Accounts Receivable	17,500
Allowance for Doubtful Accounts		$1,100
Prepaid Insurance	9,180
Land	369,300
Buildings	150,000
Accumulated Depreciation-Buildings		48,000
Equipment	190,400
Accumulated Depreciation-Equipment		88,853
Common Stock		436,800
Retained Earnings		128,788
Dues Revenue		194,600
Green Fees Revenue		6,429
Rent Revenue		16,500
Utilities Expenses	57,080
Salaries and Wages Expense	82,950
Maintenance and Repairs Expense	29,340
	$921,070	$921,070

Post the ledger accounts.

Expert Solution

Cash
Bal.	$15320

Account Receivable
Bal.	$17500

Allowance for Doubtful Accounts
	Bal.	$1100

Prepaid Insurance
Bal.	$9180

Land
Bal.	$369300

Building
Bal.	$150000

Accumulated Depreciation-Buildings
	Bal.	$48000

Equipment
Bal.	$190400

Accumulated Depreciation-Equipment
	Bal.	$88853

Common Stock
	Bal.	$436800

Retained Earnings
	Bal.	$128788

Dues Revenue
	Bal.	$194600

Green Fees Revenue
	Bal.	$6429

Rent Revenue
	Bal.	$16500

Utilities Expense
Bal.	$57080

Salaries & Wages Expense
Bal.	$82950

Maintenance & Repair Expense
Bal.	$29340

ekkarill92 answered 2 years ago

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