ALL PARTS PLEASE

E3-11. : ignore the instructions as they are written and instead to:

1. - Journalize the transactions

add - as the first transaction: Greek Peak issued $300,000 of common stock.

2. - Post the transactions to T-accounts (Assume that December is the first month of operations so the beginning balance of all the accounts is zero.)

3. - Determine the balances of the T-accounts

4. - Prepare an unadjusted trial balance

Greek Peak is a ski resort in upstate New York. The company sells lift tickets, ski lessons, and ski equipment. It operates several restaurants and rents townhouses to vacationing skiers. The following hypothetical December transactions are typical of those that occur at the resort. a. Borrowed $500,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $20,000 cash on December 31. c. Purchased ski supplies for $10,000 on account, d. Incurred $22,000 in routine maintenance expenses for the chairlifts; paid cash. e. Received $72,000 for season passes (beginning in the new year) f. Daily lift passes were sold this month for a total of $76.000 cash. 8. Received a $320 deposit on a townhouse to be rented for five days in January 1. Paid half the charges incurred on account in (c) i. Incurred and paid $18,000 in wages to employees for the month of December. Page 136