La ROLLING HILLS GOLF INC.
TRIAL BALANCE
SEPTEMBER 30, 2012
Unadjusted
Dr.
С
Cash
$ 6,700
Accounts Receivable
400
Prepaid Rent
1,800
Supplies
1.200
Equipment
15,000
Accumulated Depreciation-Equipment
Notes Payable
$ 5,000
Accounts Payable
1.070
Salaries and Wages Payable
Interest Payable
Unearned Rent Revenue
1,000
Common Stock
14.000
Retained Earnings
0
Dividends
600
Service Revenue
14,100
Rent Revenue
700
Salaries and Wages Expense
8,800
Rent Expense
900
Depreciation Expense
Supplies Expense
Utilities Expenses
470
Interest Expense
$35,870 $35,870
Adjusted
De
CE
$ 6,700
1,000
900
180
15.000
$ 350
5.000
1,070
600
50
800
14.000
0
600
14,700
900
9,400
1.800
350
1,020
470
50
$37,470 $37.470
Instructions
(a) Journalize the adjusting entries that were made.
(b) Prepare an income statement and a retained earnings statement for the 3 months ending September 30
and a classified balance sheet at September 30.
(c) Identify which accounts should be closed on September 30.
(d) If the note bears interest at 12%, how many months has it been outstanding?

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