114 chapter 2 Continuing Pro P2-42 Journalizing transactions,posig so ga trial balance Problem P2-42 coties witdh the ocegaoy Company. Here you will account for Canyos Ganne Cear gmy's rantactios as it is actually done in practice. Begin by nevlewing the transacroous froxn Chapter 1. The transactions have been reprinted belor Nov. 1 Received $16,000 cash to begin the company and issued common stock to Amber and Zach. 2 Signed a lease for a building and paid $1,200 for the first month's rent. 3 Purchased canoes for $4,800 on account 4 Purchased office supplies on account, $750 7 Earned $1,400 cash for rental of canoes. 13 Paid $1,500 cash for wages 15 Paid $50 dividends to stockholders. 16 Received a bill for $150 for utilities. (Use separate payable account.) 20 Received a bill for $175 for cell phone expenses. (Use separate payable account.) 22 Rented cances to Early Start Daycare on account, $3,000. 26 Paid $1,000 on account related to the November 3 purchase. 28 Received $750 from Early Start Daycare for canoe rental on November 22 30 Paid $100 dividends to stockholders rac 2-43 Co In addiskon, Canyon Cance Company completod the following transactions for December Dec. 1 Amber and Zack contributed land on the river (worth $85,000) and a small building to use as a rental office (worth $35,000) in exchange for common stock 1 Prepaid $3,000 for three months' rent on the warehouse where the company stores the canoes 2 Purchased canoes signing a note payable for $7,200 4 Purchased office supplies on account for $ 500. 9 Received $4,500 cash for canoe rentals to customers 15 Rented canoes to customers for $3,500, but will be paid next month. 16 Received a $750 deposit from a cance rental group that will use the canoes next month. 18 Paid the utilities and telephone bills from last month. 19 Paid various accounts payable, 52,000. 20 Received bils for the telephone (5325) and utilities (5295) which will be paid later 31 Paid wages of $1,800. 31 Paid cash dividend to stockholders, 5300. 1. Journalise the transactions for both November and December, using the following accounes Cash, Accounts Receivable Office Sapplies; Prepaid Rent; Land Puilding, Canoes, Accounts Payable, Uailities Payable; Telephone Payable 25 29 30 114 chapter 2 Continuing Pro P2-42 Journalizing transactions,posig so ga trial balance Problem P2-42 coties witdh the ocegaoy Company. Here you will account for Canyos Ganne Cear gmy's rantactios as it is actually done in practice. Begin by nevlewing the transacroous froxn Chapter 1. The transactions have been reprinted belor Nov. 1 Received $16,000 cash to begin the company and issued common stock to Amber and Zach. 2 Signed a lease for a building and paid $1,200 for the first month's rent. 3 Purchased canoes for $4,800 on account 4 Purchased office supplies on account, $750 7 Earned $1,400 cash for rental of canoes. 13 Paid $1,500 cash for wages 15 Paid $50 dividends to stockholders. 16 Received a bill for $150 for utilities. (Use separate payable account.) 20 Received a bill for $175 for cell phone expenses. (Use separate payable account.) 22 Rented cances to Early Start Daycare on account, $3,000. 26 Paid $1,000 on account related to the November 3 purchase. 28 Received $750 from Early Start Daycare for canoe rental on November 22 30 Paid $100 dividends to stockholders rac 2-43 Co In addiskon, Canyon Cance Company completod the following transactions for December Dec. 1 Amber and Zack contributed land on the river (worth $85,000) and a small building to use as a rental office (worth $35,000) in exchange for common stock 1 Prepaid $3,000 for three months' rent on the warehouse where the company stores the canoes 2 Purchased canoes signing a note payable for $7,200 4 Purchased office supplies on account for $ 500. 9 Received $4,500 cash for canoe rentals to customers 15 Rented canoes to customers for $3,500, but will be paid next month. 16 Received a $750 deposit from a cance rental group that will use the canoes next month. 18 Paid the utilities and telephone bills from last month. 19 Paid various accounts payable, 52,000. 20 Received bils for the telephone (5325) and utilities (5295) which will be paid later 31 Paid wages of $1,800. 31 Paid cash dividend to stockholders, 5300. 1. Journalise the transactions for both November and December, using the following accounes Cash, Accounts Receivable Office Sapplies; Prepaid Rent; Land Puilding, Canoes, Accounts Payable, Uailities Payable; Telephone Payable 25 29 30