It's okay if only the first part is done, I have posted the second part in a separate post

Please find the question bellow, REALLY APPRCIATE THE HELP :)!!!

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.)

Golden Lake Company Completed the following transactions in November and December and prepared the following unadjusted trial balance at December 31, 2018

(Below are the November and December transactions)

Nov. 1 Received $17,000 cash to begin the company and gave capital to Ashley Walworth

2 Signed a lease for a building and paid $1,300 for the first months rent

3 Purchased canoes for $7,680 on account

4 Purchased office supplies on account, $800

7 Earned $1,200 cash for rental of canoes

13 Paid $1,000 cash for wages

15 Walworth withdrew $400 cash from the business

16 Received a bill for $200 utilities. (Use separate payable account.)

20 Received a bill for $170 for cell phone expenses. (Use separate payable account)

22 Rented canoes to little Day Breakers on account, $3,400.

26 Paid $2,300 on account related to the November 3 purchase

28 Received $1,100 from Little Day Breakers for Canoe Rental on November 22.

30 Walworth withdrew cash of $550 from the business

Dec 1 Ashley contributed land on the river (worth $95,000) and a small building to use as a

rental office (worth $280,000) in exchange for capital

1 Prepaid $3,900 for three months rent on the warehouse where the company stores the

Canoes

2 Purchased canoes signing a notes payable for $6,720

4 Purchased office supplies on account for $1,000

9 Received $4,200 cash for canoe rentals to customers

15 Rented canoes to customers for $3,600, but will be paid next month

16 Received a $400 deposit from a canoe rental group that will use the canoes next month

18 Paid the utilities and telephone bills from last month

19 Paid various accounts payable, $2,400

20 Received bills for the telephone ($250) and utilities ($290) which will be paid later

31 Paid wages of $1,600

31 Walworth withdrew cash of $650 from the business

(Below are the Unadjusted trial Balance)

Golden Lake Company

Trial Balance

December 31, 2018

Balance

Account Title Debit Credit

Cash 9,430

Accounts Receivable 5,900

Office Supplies 1,800

Prepaid Rent 3,900

Land 95,000

Building 280,000

Canoes 14,400

Accounts Payable 4,780

Utilities Payable 290

Telephone Payable 250

Unearned Revenue 400

Notes Payable 6,720

Walworth, Capital 392,000

Walworth, Withdrawals 1,600

Canoe Rental Revenue 12,400

Rent Expense 1,300

Wages Expense 2,600

Utilities Expense 490

Telephone Expense 420

Total $416,840 $416,840

Additional Information

1. Office supplies on hand, $300
2. Rent of one month has been used. (Hint: See the second Dec, 1 transaction)
3. Determine the depreciation on the building using straight-line depreciation. Assume the useful life of the building is fifteen years and the residual value is $10,000 (Hint: The building was purchased on December 1)
4. $200 of unearned revenue has now been earne (Assume that the initial unearned revenue was recorded as a liability
5. The employee who has been working the rental booth has earned $1,600 in wages that will be paid January 15, 2019
6. Golden Lake has earned $1,700 of canoe rental revenue that has not been recorded or received
7. Determine the depreciation on the canoes purchased on November 3 using straight line depreciation. Assume the useful life of canoes is 8 years and the residual value is $0
8. Determine the depreciation on the canoes purchased on December 2 using straight line depreciation. Assume the useful life of the canoes is 8 years and the residual value is $0
9. Interest expense accrued on the notes payable, $90.

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 de bits first, then credits. Select the explanation on the last line of the joumal entry table.) a. Office supplies on hand $300. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (a) b. Rent of one month has been used. (Hint: See the second Dec. 1 transaction.) Date Accounts and Explanation Debit Credit Dec. 31 Adj. (b) c. Determine the depreciation on the building using straight-line depreciation. Assume the useful life of the building is fifteen years and the residual value is $10,000. (Hint: The building was purchased on December 1.) Date Accounts and Explanation Debit Credit 31 Dec. Adj. (c) d. $200 of unearned revenue has now been eamed. (Assume that the initial unearned revenue was recorded as a liability.) Date Accounts and Explanation Debit Credit Dec. 31 Adj. (d) e. The employee who has been working the rental booth has earned $1,600 in wages that will be paid January 15, 2019. Accounts and Explanation Debit Credit Date Dec. 31 Adj. (e) 1. Golden Lake has earned $1,700 of canoe rental revenue that has not been recorded or received. Date Accounts and Explanation Debit Credit 31 Dec. Adj. (1) g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the useful life of the canoes is 8 years and the residual value is $0.(No depreciation has been recorded on these canoes to date.) Date Accounts and Explanation Debit Credit Dec. 31 Adj. (9) h. Determine the depreciation on the canoes purchased on December 2 using straight-line depreciation. Assume the useful life of the canoes is 8 years and the residual value is $0. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (h) i. Interest expense accrued on the notes payable, $90. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (0) The T-accounts, along with their unadjusted balances, have been opened for you. Post the adjustments and then calculate the adjusted balance of each account. Denote each adjusting amount as Ad). (along with the corresponding letter reference, Adj. (a), Adj. (b), etc.) and an account balance as Bal (Depr. - Depreciation.) Review the adjusting entries you prepared above. Cash Accounts Payable Cance Rental Revenue Bal. 9,430 4,780 Bal. 12,400 Bal. Accounts Receivable 5,900 Utilities Payable 290 Bal. Rent Expense 1,300 Bal. Bal. Office Supplies 1,800 Telephone Payable 250 Bal. Wages Expense 2,600 Bal Bal Wages Payable Utilities Expense Prepaid Rent 3,900 Bal. O Bal Bal. 490 Land Unearned Revenue Telephone Expense Bal. 95,000 400 Bal Bal. 420 Building Interest Payable Supplies Expense Bal. 280,000 O Bal. Bal. Accumulated Depr.-Building Notes Payable 6.720 Bal. Depreciation Expense-Building Bal. O Bal. Canoes Walworth, Capital Depreciation Expense-Canoes Bal. 14,400 392.000 Bal. Bal. Walworth, Withdrawals Interest Expense Accumulated Depr.-Canoes O Bal. Bal. 1,600 Bal. Requirement 2. Prepare an adjusted trial balance as of December 31, 2018 Review the ending balances of the T-accounts that you prepared above. Golden Lake Company Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Total Choose from any list or enter any number in the input fields and then continue to the next