ork 1 of 1 (0 complete) Reference Received $10,000 cash to begin the company and issued common stock to Amy and Zion. Nov. 1 2 Signed a lease for a building and paid $700 for the first month's rent. 3 Purchased canoes for $4,320 on account. 4 Purchased office supplies on account, $1,300 7 Earned $1,600 cash for rental of canoes. 13 Paid $1,800 cash for wages. 15 Paid $400 dividends to stockholders. 16 Received a bll for $190 for utilities. (Use separate payable account.) 20 Received a bill for $90 for cell phone expenses. (Use separate payable account.) 22 Rented canoes to Adventure Kings on account, $3,200. 26 Paid $2,500 on account related to the November 3, 2018, purchase. 28 Received $900 from Adventure Kings for canoe rental on November 22, 2018. 30 Paid $600 dividends to stockholders. Dec. 1 Amy and Zion contributed land on the river (worth $100,000) and a small building to use as a rental office (worth $112,000) in exchange for common stock. 1 Prepaid $2,100 for three months' rent on the warehouse where the company stores the canoes. 2 Purchased canoes signing a notes payable for $8,160. 4 Purchased office supplies on account for $600. 9 Received $4,400 cash for canoe rentals to customers. enann id Print Done C ge Water Way Company Unadjusted Trial Balance December 31, 2018 dend Balance elec Account Title Debit Credit Cash 3,620 Accounts Receivable 5,400 Office Supplies 1,900 Prepaid Rent 2,100 Canoes 12,480 Land 100,000 Building 112,000 Accounts Payable 720 Utilities Payable 290 Telephone Payable 300 Uneamed Revenue 650 Notes Payable 8,160 Common Stock 222 000 en click C Print Done 000 F4 F5 F6 F7 F8 F9 X Reference Pp Prepaid Rent 2,100 Canoes 12,480 Land 100,000 Building 112,000 Accounts Payable 720 Utilities Payable 290 Telephone Payable 300 Uneaned Revenue 650 Notes Payable 8,160 Common Stock 222,000 Dividends 1,650 Canoe Rental Revenue 12,300 Rent Expense 700 Wages Expense 3,700 Utilities Expense 480 390 Telephone Expense 244,420 $ 244,420 Total ck C Print Done DD DII F9 F4 F8 F7 ember and prepared the following unadjusted trial balance at December 31, 2018: lick the icon to viou the unadiuetod.trial halance1 More Info a. Office supplies on hand, $100 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 $16,000. (Hint: The building was purchased on December 1.) d. $100 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 $750 in wages that will be paid January 15, 2019 f. Water Way has earned $1,600 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, $110. Print Done click Check Answer. Clear All 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, $100. Date Accounts and Explanation Debit Credit Dec. 31 Adj. (a)
