C raw Problem 2-9A (Algo) Complete the steps in the measurement of external transactions (LO2-4, 2-5, 2-6) Canadian Rockies Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2024, Canadian Rockles has the following account balances. CANADIAN ROCKIES EXPEDITIONS Trial Balance. November 30, 2024 Accounts Cash Debits Credits Accounts Receivable $11,400 5,600 Prepaid Insurance 1,500 Equipment 25,200 Land 186,500 Accounts Payable Notes Payable 4,400 51,100 Common Stock 142,000 Retained Earnings 15,200 Dividends 6,100 Service Revenue 76,100 Advertising Expense 12,100 Salaries Expense 29,400 Rent Expense 11,000 Totals $288,800 $288,800 The following transactions occur during December 2024: December 1 Pay rent for mountain lodges for the month of December, $2,000. December 5 December 8 December 12 December 13 Provide guided tour to customers in Grand Teton National Park for cash, $3,900. Borrow from a local bank by signing a note payable, $21,000. The note is due in one year with a 6% interest rate. Receive cash from customers as payment for a guided tour that occurred on November 28, $4,600. Issue additional shares of common stock for cash, $31,000. 1 ints The following transactions occur during December 2024: Decembe December Pay rent for mountain lodges for the month of December, $2,000. Provide guided tour to customers in Grand Teton National Park for cash, $3,900. December 8 Borrow from a local bank by signing a note payable, $21,000. The note is due in one year with a 4% interest rate. December 12 Receive cash from customers as payment for a guided tour that occurred on November 28, $4,400. December 13 Issue additional shares of common stock for cash, $11,000. December 15 Pay employee salaries for the first half of the month, $2,300. December 17 Purchase advertising on several local radio stations to be aired during the following two weeks, $2,100 December 22 Provide guided tour to customers in Yellowstone National Park on account, 14,100. December 23 One of the customers from the December 22 tour claims to have seen the legendary creature Bigfoot. The company believes this exciting news will create additional revenue of $31,000 next year. December 26 Purchase several pieces of hiking equipment to give customers more enjoyable afventure, such as night-vision goggles, GPS, long-range binoculars, and video cameras, for cash, $29,500. December 28 Pay cash on accounts payable, $2,600. December 31 Pay dividends to stockholders, $3,100. Required: 1. Record each transaction. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at December 31, 2024 (Hint: Be sure to include the balance at the beginning of December in each T-account.) 4. Prepare a trial balance as of December 31, 2024. Answer is not complete. Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance MC Prepare a trial balance as of December 31. Return to question Prev 1 of 1 Next > 129 C aw ucation by entering you answers in the tabs below. General Journal T Accounts Trial Balance Prepare a trial balance as of December 31. CANADIAN ROCKIES EXPEDITIONS Trial Balance December 31, 2024 Accounts Debit Credit Cash $ 31,000 x Accounts Receivable 5,209 Prepaid Insurance 1,500 Equipment 54,800 Land 186,500 Accounts Payable 1,800 Notes Payable 72,100 Common Stock 31,690 Retained Earnings 15,200 Dividends 9,200 Service Revenue 84,300 Advertising Expense 12,100 Salaries Expense 24,800 Rent Expense 13,000 Totals $ 338,109 $205,090 Search Prev 1 of 1 Next >