Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Online Assignment #3 P2-9A RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2018, RiverHawk has the

image text in transcribed
Online Assignment #3 P2-9A RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2018, RiverHawk has the following account balances. RIVERHAWK EXPEDITIONS Trial Balance November 30, 2018 Accounts Debits Credits Cash S 9,200 4,500 400 24,100 170,000 Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense s 3,300 50,000 120,000 14,100 5,000 75,000 11,000 28,300 Rent Expense 9,900 262,400 Totals $262.400 The following transactions occur during December 2018: December 1 Pay rent for mountain lodges the month of December, $900 December 5 Provide guided tour to customers in Grand Teton National Park for cash, $2,800. December 8 Borrow from a local bank by signing a note payable, $10,000. The note is due in Online Assignment #3 P2-9A RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2018, RiverHawk has the following account balances. RIVERHAWK EXPEDITIONS Trial Balance November 30, 2018 Accounts Debits Credits Cash S 9,200 4,500 400 24,100 170,000 Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense s 3,300 50,000 120,000 14,100 5,000 75,000 11,000 28,300 Rent Expense 9,900 262,400 Totals $262.400 The following transactions occur during December 2018: December 1 Pay rent for mountain lodges the month of December, $900 December 5 Provide guided tour to customers in Grand Teton National Park for cash, $2,800. December 8 Borrow from a local bank by signing a note payable, $10,000. The note is due in

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Managerial Accounting

Authors: Kurt Heisinger

1st Edition

0618436693, 978-0618436699

More Books

Students also viewed these Accounting questions

Question

What are barriers to communication?

Answered: 1 week ago