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In: Accounting

Presented below is the trial balance of the Oriole Golf Club, Inc. as of December 31....

Presented below is the trial balance of the Oriole Golf Club, Inc. as of December 31. The books are closed annually on December 31. ORIOLE GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash $16,790 Accounts Receivable 14,900 Allowance for Doubtful Accounts $1,200 Prepaid Insurance 8,950 Land 354,100 Buildings 120,000 Accumulated Depreciation-Buildings 38,400 Equipment 196,200 Accumulated Depreciation-Equipment 91,560 Common Stock 394,700 Retained Earnings 143,255 Dues Revenue 189,200 Green Fees Revenue 5,655 Rent Revenue 16,500 Utilities Expenses 59,120 Salaries and Wages Expense 81,950 Maintenance and Repairs Expense 28,460 $880,470 $880,470 Collapse question part (a) Enter the balances in ledger accounts. Cash Accounts Receivable Allow. for Doubtful Accts. Land Buildings Accum. Depr.—Buildings Equipment Prepaid Insurance Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue Utilities Expenses Salaries and Wages Expense Maintenance and Repairs Expense Accum. Depr.—Equipment

Solutions

Expert Solution


(a).

Cash

Beginning balance

$16790

Ending balance

$16790

Accounts Receivable

Beginning balance

$14900

Ending balance

$14900

Allow. for Doubtful Accts

Beginning balance

$1200

Ending Balance

$1200

Land

Beginning balance

$354100

Ending Balance

$354100

Buildings

Beginning balance

$120000

Ending balance

$120000

Accumulated Depreciation-Buildings

Beginning balance

$38400

Ending balance

$38400

Equipment

Beginning balance

$196200

Ending balance

$196200

Prepaid Insurance

Beginning balance

$8950

Ending balance

$8950

Common Stock

Beginning balance

$394700

Ending balance

$394700

Retained Earnings

Beginning balance

$143255

Ending balance

$143255

Dues Revenues

Beginning balance

$189200

Ending balance

$189200

Green Fees Revenue

Beginning balance

$5655

Ending balance

$5655

Rent Revenue

Beginning balance

$16500

Ending balance

$16500

Utilities Expenses

Beginning balance

$59120

Ending balance

$59120

Salaries and Wages Expenses

Beginning balance

$81950

Ending balance

$81950

  

Maintenance and Repairs Expense

Beginning balance

$28460

Ending balance

$28460

Accumulated Depreciation-Equipment

Beginning balance

$91560

Ending balance

$91560

ekkarill92 answered 1 year ago
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