Exercise Account (191)

Prévia do material em texto

4-44
PROBLEM 4-4A (Continued)
(b) DISNEY AMUSEMENT PARK
Balance Sheet
September 30, 2008
 
Assets
Current assets
Cash...................................................... $ 41,400
Supplies .............................................. 1,200
Prepaid insurance............................ 8,900
Total current assets ............... 51,500
Property, plant, and equipment
Land...................................................... $80,000
Equipment .......................................... $120,000
Less: Accum. depreciation.......... 42,200 77,800 157,800
Total assets............................... $209,300
Liabilities and Owner’s Equity
Current liabilities
Current maturity of mortgage
 note payable.................................. $ 10,000
Accounts payable ............................ 14,600
Interest payable ................................ 4,000
Property taxes payable .................. 3,000
Unearned admissions
 revenue ........................................... 2,000
Total current liabilities........... 33,600
Long-term liabilities
Mortgage note payable................... 40,000
Total liabilities.......................... 73,600
Owner’s equity
L. Disney, Capital
 ($109,700 + $40,000 – $14,000) ........ 135,700
Total liabilities and
 owner’s equity ..................... $209,300