CPF1-55 (similar to) Question Help Golden Lake Company is a service-based company that rents canoes for use on local lakes and rivers. Andrea and Zion Washington graduated from college about 10 years ago. They both worked for one of the "Big Four" accounting firms and became CPAs. Because they both love the outdoors, they decided to begin a new business that will combine their love of outdoor activities with their business knowledge. Andrea and Zion decide that they will create a new corporation, Golden Lake Company or GLC for short. The business began operations on November 1, 2024 (Click the icon to view the transactions.) Read the requirements Assets Liabilities Equity Cash + AR Off + Canoes = A/P Util Tele+ CS Div Rent Rent US Wage Tele Sup Pay Pay Exp Exp Exp Exp 1 25.000 + 25,000 (1,000 1,000 Bal 24.000 25 000 1.000 + + + + + Rev. + 2 + 0 0 + 3 Bal + Enter any number in the edit fields and then click Check Answer Clear 0 Final Check 15 parts remaining More Info X Received $25,000 cash to begin the company and issued common stock Nov. 1 to Andrea and Zion. Nov. 2 Signed a lease for a building and paid $1,000 for the first month's rent. Nov. 3 Purchased canoes for $4,200 on account Nov. 4 Purchased office supplies on account, $800. Nov. 7 Earned $2,000 cash for rental of canoes. Nov. 13 Paid $1,700 cash for wages. Nov. 15 Paid $600 dividends to stockholders, Nov. 16 Received a bill for $190 for utilities. (Use separate payable account.) Received a bill for $140 for cell phone expenses. (Use separate payable Nov. 20 account) Nov. 22 Rented canoes to Terloser Time on account $2.800 Nov 26 Paid $1 800 on account related to the November 3 2024 nurchase Print Done - . X More Info gr yo 4 Util Exp Nov. 3 Purchased canoes for $4,200 on account. Nov. 4 Purchased office supplies on account, $800. Nov. 7 Earned $2,000 cash for rental of canoes. Nov. 13 Paid $1,700 cash for wages. Nov. 15 Paid $600 dividends to stockholders. Nov. 16 Received a bill for $190 for utilities. (Use separate payable account) Received a bill for $140 for cell phone expenses. (Use separate payable Nov. 20 account) Nov. 22 Rented canoes to Tender Time on account, $2,800. Nov. 26 Paid $1,800 on account related to the November 3, 2024, purchase. Received $1,100 from Tender Time for canoe rental on November 22 Nov. 28 2024 Nov. 30 Paid $700 dividends to stockholders. Print Done