7. (a) Using the trial balance below, prepare a work sheet for the three months ended September 30, 20-, for the Wabanaki Golf Club. (b) Prepare an income statement, a statement of owner's equity, and a classified balance sheet. Account Cash Supplies Land Buildings Equipment Accounts Payable Bank Loan (5 years) Mortgage Payable 1. Benoit, Capital 1. Benoit, Drawings Membership Fees Salaries Expense Interest Expense Maintenance Expense Utilities Expense Office Expense Wabanaki Golf Club Trial Balance September 30, 20-- Acc. No. 100 120 150 160 170 200 220 230 300 310 400 500 501 502 503 504 Debit $ 3.000 9 000 200 000 400 000 30 000 6 000 46 000 6 900 2 000 7 000 2 000 $711 900 Credit $ 8.900 95 000 250 000 248 000 110 000 $711 900

7. (a) Using the trial balance below, prepare a work sheet for the three months ended September 30, 20-, for the Wabanaki Golf Club. (b) Prepare an income statement, a statement of owner's equity, and a classified balance sheet. Account Cash Supplies Land Buildings Equipment Accounts Payable Bank Loan (5 years) Mortgage Payable 1. Benoit, Capital 1. Benoit, Drawings Membership Fees Salaries Expense Interest Expense Maintenance Expense Utilities Expense Office Expense Wabanaki Golf Club Trial Balance September 30, 20-- Acc. No. 100 120 150 160 170 200 220 230 300 310 400 500 501 502 503 504 Debit $ 3.000 9 000 200 000 400 000 30 000 6 000 46 000 6 900 2 000 7 000 2 000 $711 900 Credit $ 8.900 95 000 250 000 248 000 110 000 $711 900

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 8SPA: INCOME STATEMENT. STATEMENT OF OWNER S EQUITY, AND BALANCE SHEET Paulsons Pet Store completed the...

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