Disney Amusement Park has a fiscal year ending on September 30. Selected data from the September 30 worksheet are presented below.
DISNEY AMUSEMENT PARK
Worksheet
For the Year Ended September 30, 2010
Trial Balance Adjusted
Trial Balance
Account Titles Dr. Cr. Dr. Cr.
Cash $41,240 $41,240
Supplies 18,429 1,243
Prepaid Insurance 34,784 8,812
Land 79,981 79,981
Equipment 115,200 115,200
Accumulated Depreciation 36,061 43,492
Accounts Payable 14,496 14,496
Unearned Admissions Rev. 3,718 2,123
Mortgage Note Payable 49,613 49,613
L. Disney, Capital 109,688 109,688
L. Disney, Drawing 14,135 14,135
Admissions Revenue 275,947 277,542
Salaries Expense 104,814 104,814
Repair Expense 30,536 30,536
Advertising Expense 9,201 9,201
Utilities Expense 16,899 16,899
Property Taxes Expense 18,146 21,168
Interest Expense 6,158 10,090
Totals 489,523 489,523
Insurance Expense 25,972
Supplies Expense 17,186
Interest Payable 3,932
Depreciation Expense 7,431
Property Taxes Payable 3,022
Totals 503,908 503,908






Incorrect.

Prepare a complete worksheet. (If answer is zero, please enter 0. Do not leave any fields blank.)
DISNEY AMUSEMENT PARK
Worksheet
For the Year Ended September 30, 2010
Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 41,240








Supplies 18,429








Prepaid Insurance 34,784








Land 79,981








Equipment 115,200








Accumulated Depreciation 36,061








Accounts Payable 14,496








Unearned Admissions Rev. 3,718








Mortgage Note Payable 49,613








L. Disney, Capital 109,688








L. Disney, Drawing 14,135








Admissions Revenue 275,947








Salaries Expense 104,814








Repair Expense 30,536








Advertising Expense 9,201








Utilities Expense 16,899








Property Taxes Expense 18,146








Interest Expense 6,158








Totals 489,523 489,523
Insurance Expense








Supplies Expense








Interest Payable








Depreciation Expense








Property Taxes Payable








Totals








Net Income




Totals











Incorrect.

Prepare a classified balance sheet. (Note: $9,293 of the mortgage note payable is due for payment in the next fiscal year.) (List assets in order of liquidity and liabilities from largest to smallest e.g. 10, 5, 3, 2, with notes first.)
DISNEY AMUSEMENT PARK
Balance Sheet


Assets
Current Assets

$







Total current assets $

Property, plant and equipment

$


$

:




Total assets $


Liabilities and Owner's Equity
Current liabilities

$













Total current liabilities $

Long-term liabilities



Total liabilities

Owner's Equity



Total liabilities and owner's equity $








Incorrect.

Journalize the adjusting entries using the worksheet as a basis.
Date Account/Description Debit Credit
Sept. 30





(To adjust supplies.)
Sept. 30





(To adjust insurance.)
Sept. 30





(To adjust depreciation.)
Sept. 30





(To adjust admissions revenue.)
Sept. 30





(To adjust property taxes.)
Sept. 30





(To adjust interest.)







Incorrect.

Journalize the closing entries using the worksheet as a basis. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.)
Date Account/Description Debit Credit
Sept. 30





(To close revenue account.)
Sept. 30





























(To close expense accounts.)
Sept. 30





(To close net income.)
Sept. 30





(To close drawings.)







Incorrect.

Prepare a post-closing trial balance. (If answer is zero, please enter 0. Do not leave any fields blank.)
DISNEY AMUSEMENT PARK
Post-Closing Trial Balance
September 30, 2010
Trial Balance
Account Titles Dr. Cr.
Cash $
$

Supplies


Prepaid Insurance


Land


Equipment


Accumulated Depreciation


Accounts Payable


Interest Payable


Property Taxes Payable


Unearned Admissions Revenue


Mortgage Note Payable


L. Disney, Capital


L. Disney, Drawing


Admission Revenue


Salaries Expense


Repair Expense


Advertising Expense


Utilities Expense


Property Taxes Expense


Interest Expense


Insurance Expense


Supplies Expense


Depreciation Expense


$
$

You need to prepare a worksheet:
Column 1 contains all of your accounts

Columns 2 and 3 is your trial balance with column 2 containing Debit account balances and column 3 your Credit account balances.

Columns 4 and 5 are for your adjusting entries with colcumn 4 your debits and column 5 your credits.

Columns 6 and 7 is your adjusted trial balabnce for your adjusted account balances with column 6 for debit account balances and column 7 for your credit account balances.

Columns 8 and 9 is for your income statement accounts with column 8 for debit accounts and column 9 for credits.

Columns 10 and 11 is for your balance sheet and column 10 is for your debit account balances and column 11 for credit account balances.

Columns 12 and 13 is for your post closing balance sheet with column 12 for your debit account balances and column 13 for your credit account balances.