november and december transactions

Nov. 1Received $16,000 cash to begin the company and issued common stock to Amber and Zack.Nov. 2Signed a lease for a building and paid $1,200 for the first month's rent.Nov. 3Purchased canoes for $4,800 on account.Nov. 4Purchased supplies on account, $750.Nov. 7Earned $1,400 cash for rental of canoes.Nov. 13Paid $1,500 cash for wages.Nov. 15Paid $50 dividends to stockholders.Nov. 16Received a bill for $150 for utilities. (Use separate payable account.)Nov. 20Received a bill for $175 for cell phone expenses. (Use separate payable account.)Nov. 22Rented canoes to Outdoor Adventure Club on account, $3,000.Nov. 26Paid $1,000 on account related to the November 3, 2025, purchase.Nov. 28Received $750 from Outdoor Adventure Club for canoe rental on November 22.Nov. 30Paid $100 dividends to stockholders.Dec. 1Amber and Zack contributed land on the river (worth $85,000) and a small building to use as a rental office (worth $35,000) in exchange for common stock.Dec. 1Prepaid $3,000 for three months' rent on the warehouse where the company stores the canoes.Dec. 2Purchased canoes signing a notes payable for $7,200.Dec. 4Purchased supplies on account for $500.Dec. 9Received $4,500 cash for canoe rentals to customers.Dec. 15Rented canoes to customers for $3,500 and will be paid next month.Dec. 16Received a $750 deposit from a canoe rental group that will use the canoes next month.Dec. 18Paid the utilities and telephone bills from last month.Dec. 19Paid various accounts payable, $2,000.Dec. 20Received bills for the telephone ($325) and utilities ($295) which will be paid later.Dec. 31Paid wages of $1,800.Dec. 31Paid cash dividend to stockholders, $300.

questions

Total =$1160,020$160,020 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, 2026. 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 four 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 four years and the residual value is $0. i. Interest expense accrued on the notes payable, $50. December Unadjusted Trial Balance \begin{tabular}{|lrr|} \hline Accounts Payable & $3,050 \\ Utilities Payable & & 295 \\ Telephone Payable & & 325 \\ Unearned Revenue & & 750 \\ Notes Payable & & 7,200 \\ Common Stock & & 136,000 \\ Dividends & 450 & \\ Canoe Rental Revenue & & 12,400 \\ Rent Expense & 1,200 & \\ Wages Expense & 3,300 & \\ Utilities Expense & 445 & \\ Telephone Expense & 500 & \\ \hline \end{tabular} 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, 2025 . Total =$1160,020$160,020 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, 2026. 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 four 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 four years and the residual value is $0. i. Interest expense accrued on the notes payable, $50. December Unadjusted Trial Balance \begin{tabular}{|lrr|} \hline Accounts Payable & $3,050 \\ Utilities Payable & & 295 \\ Telephone Payable & & 325 \\ Unearned Revenue & & 750 \\ Notes Payable & & 7,200 \\ Common Stock & & 136,000 \\ Dividends & 450 & \\ Canoe Rental Revenue & & 12,400 \\ Rent Expense & 1,200 & \\ Wages Expense & 3,300 & \\ Utilities Expense & 445 & \\ Telephone Expense & 500 & \\ \hline \end{tabular} 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, 2025