x 12 Student Portal O WileyPLUS ugen.wileypius.com/edugen/Iti/main.uni US Kieso, Intermediate Accounting, 17e Help | System Announcements ES Problem 3-09 (Part Level Submission) Presented below is the trial balance of the Marigold Golf Club, Inc. as of December 31. The MARIGOLD GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash $18,670 Accounts Receivable 13,900 Allowance for Doubtful Accounts $1,200 Prepaid Insurance Land 382, dy Buildings 150,000 Accumulated Depreciation-Buildings 38,835 Equipment 151,700 Accumulated Depreciation-Equipment 73,220 Common Stock 419,300 Retained Earnings 129,285 Dues Revenue 208,400 Green Fees Revenue 6,260 Rent Revenue 17,600 Utilities Expenses 57,110 Salaries and Wages Expense 82,630 Maintenance and Repairs Expense 28,410 $894,100 $894,100 (a) to search DOLL F4 F5 F6 F7 F8 F9 F10 F3 #3 $4 & 96 %24 Student Portal WileyPLUS gen.wileyplus.com/edugen/ti/main.uni US IS Kieso, Intermediate Accounting, 17e Help I System Announcements NO. ALCOUIL Iues anu ExpldllaLIon veDIL Creuil ES 1. Accounts Receivable 38835.00 Accumulated Depreciati 38835.00 2. Equipment 15170.00 Accumulated Depreciati 13220.00 3. Insurance Expense 3170.00 dy Prepaid Insurance 8980.00 Prepaid Rent 1600.00 Rent Revenue 1600.00 Accounts Receivable 13900.00 Accounts Payable 1668.00 6. Salaries and Wages Expen 82630.00 Salaries and Wages Pay 3707.00 7. 8422.00 Dues Revenue to search F9 F10 11 F12 F3 F4 F5 F6 F7 F8 & %24 4. 5.
x 12 Student Portal O WileyPLUS ugen.wileypius.com/edugen/Iti/main.uni US Kieso, Intermediate Accounting, 17e Help | System Announcements ES Problem 3-09 (Part Level Submission) Presented below is the trial balance of the Marigold Golf Club, Inc. as of December 31. The MARIGOLD GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash $18,670 Accounts Receivable 13,900 Allowance for Doubtful Accounts $1,200 Prepaid Insurance Land 382, dy Buildings 150,000 Accumulated Depreciation-Buildings 38,835 Equipment 151,700 Accumulated Depreciation-Equipment 73,220 Common Stock 419,300 Retained Earnings 129,285 Dues Revenue 208,400 Green Fees Revenue 6,260 Rent Revenue 17,600 Utilities Expenses 57,110 Salaries and Wages Expense 82,630 Maintenance and Repairs Expense 28,410 $894,100 $894,100 (a) to search DOLL F4 F5 F6 F7 F8 F9 F10 F3 #3 $4 & 96 %24 Student Portal WileyPLUS gen.wileyplus.com/edugen/ti/main.uni US IS Kieso, Intermediate Accounting, 17e Help I System Announcements NO. ALCOUIL Iues anu ExpldllaLIon veDIL Creuil ES 1. Accounts Receivable 38835.00 Accumulated Depreciati 38835.00 2. Equipment 15170.00 Accumulated Depreciati 13220.00 3. Insurance Expense 3170.00 dy Prepaid Insurance 8980.00 Prepaid Rent 1600.00 Rent Revenue 1600.00 Accounts Receivable 13900.00 Accounts Payable 1668.00 6. Salaries and Wages Expen 82630.00 Salaries and Wages Pay 3707.00 7. 8422.00 Dues Revenue to search F9 F10 11 F12 F3 F4 F5 F6 F7 F8 & %24 4. 5.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
Topic Video
Question
Need help answer the red box that are wrong. Thank you
From the
1. The buildings have an estimated life of 30 years with no salvage value. Stright line method.
2. The equipment is
3. Insurance expires during the year 3170.00.
5. It is estimated that 12% of the
6. Salaries and wages wened but not paid by December 31, $3707.
Thank you
Transcribed Image Text:x 12 Student Portal
O WileyPLUS
ugen.wileypius.com/edugen/Iti/main.uni
US
Kieso, Intermediate Accounting, 17e
Help | System Announcements
ES
Problem 3-09 (Part Level Submission)
Presented below is the trial balance of the Marigold Golf Club, Inc. as of December 31. The
MARIGOLD GOLF CLUB, INC.
TRIAL BALANCE
DECEMBER 31
Debit
Credit
Cash
$18,670
Accounts Receivable
13,900
Allowance for Doubtful Accounts
$1,200
Prepaid Insurance
Land
382,
dy
Buildings
150,000
Accumulated Depreciation-Buildings
38,835
Equipment
151,700
Accumulated Depreciation-Equipment
73,220
Common Stock
419,300
Retained Earnings
129,285
Dues Revenue
208,400
Green Fees Revenue
6,260
Rent Revenue
17,600
Utilities Expenses
57,110
Salaries and Wages Expense
82,630
Maintenance and Repairs Expense
28,410
$894,100
$894,100
(a)
to search
DOLL
F4
F5
F6
F7
F8
F9
F10
F3
#3
$4
&
96
%24
Transcribed Image Text:Student Portal
WileyPLUS
gen.wileyplus.com/edugen/ti/main.uni
US
IS Kieso, Intermediate Accounting, 17e
Help I System Announcements
NO. ALCOUIL Iues anu ExpldllaLIon
veDIL
Creuil
ES
1.
Accounts Receivable
38835.00
Accumulated Depreciati
38835.00
2.
Equipment
15170.00
Accumulated Depreciati
13220.00
3.
Insurance Expense
3170.00
dy
Prepaid Insurance
8980.00
Prepaid Rent
1600.00
Rent Revenue
1600.00
Accounts Receivable
13900.00
Accounts Payable
1668.00
6.
Salaries and Wages Expen
82630.00
Salaries and Wages Pay
3707.00
7.
8422.00
Dues Revenue
to search
F9
F10
11
F12
F3
F4
F5
F6
F7
F8
&
%24
4.
5.
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