Canyon Canoe Company completed the following transactions in November and December and prepared the following unadjusted trial balance at December 31, 2018: (Click the icon to view the November and December transactions.) (Click the icon to view the unadjusted trial balance.) At December 31, the business gathers the following information for the adjusting entries: (Click the icon to view the additional information.) Read the requirements. Requirement 1. Journalize and post the adjusting entries. In the T-accounts, denote each adjusting amount as Adj. and an account balance as Bal. Begin by journalizing the adjusting entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Office supplies on hand, $165. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (a) Choose from any list or enter any number in the input fields and then click Check Answer. ? 10 parts remaining Clear All Check Answer - i Requirements 1. Journalize and post the adjusting entries. In the T-accounts, denote each adjusting amount as Adj. and an account balance as Bal. 2. Prepare an adjusted trial balance as of December 31, 2018. i Reference . Nov. 1 Received $16,000 cash to begin the company and gave capital to Amber Wilson. 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 Wilson withdrew $50 cash from the business. 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 canoes 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 Wilson withdrew cash of $100 from the business. Dec. 1 Amber contributed land on the river (worth $85,000) and a small building to use as a rental office (worth $35,000) in exchange for capital. Print Done i Reference -X Canyon Canoe Company Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 12,125 Accounts Receivable 5,750 Office Supplies 1,250 Prepaid Rent 3,000 Land 85,000 Building 35,000 Canoes 12,000 Accounts Payable $ 3,050 3,050 295 325 750 7,200 136,000 Accounts Payable Utilities Payable Telephone Payable Unearned Revenue Notes Payable Wilson, Capital Wilson, Withdrawals Canoe Rental Revenue Rent Expense Wages Expense Utilities Expense Telephone Expense 450 12,400 1,200 3,300 445 500 $ Total 160,020 $ 160,020 Print Done More Info X a. Office supplies on hand, $165 b. Rent of one month has been used. (Hint: See the second Dec. 1 transaction.) c. Determine the depreciation on the building using straight-line depreciation. Assume the useful life of the building is five years and the residual value is $5,000. (Hint: The building was purchased on December 1.) d. $400 of unearned revenue has now been earned. (Assume that the initial unearned revenue was recorded as a liability.) e. The employee who has been working the rental booth has earned $1,250 in wages that will be paid January 15, 2019. f. Canyon Canoe has earned $1,850 of canoe rental revenue that has not been recorded or received. g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the useful life of the canoes is 4 years and the residual value is $0. h. Determine the depreciation on the canoes purchased on December 2 using straight-line depreciation. Assume the useful life of the canoes is 4 years and the residual value is $0. i. Interest expense accrued on the notes payable, $50. Print Done