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Please FILL IN THE BLANKS & also Prepare a trial balance as of December 31 WITH THE INFORMATION ABOVE 2. & 3. Post each transaction
Please FILL IN THE BLANKS & also Prepare a trial balance as of December 31 WITH THE INFORMATION ABOVE
2. & 3. Post each transaction to the appropriate T-accounts and Calculate the balance of each account at December 31, (Hint: Be sure to include the balance at the beginning of December in each T-account.) Cash Accounts Receivable Beg. Bal Beg. Bal End. Bal. End. Bal. Prepaid Insurance Equipment eg. Bal. Beg. Bal. End. Bal. End. Bal. Land Accounts Payable Beg. Bal eg. Bal End. Bal End. Bal Notes Payable Common Stock eg. Bal. Beg. Bal. End. Bal End. Bal Retained Earnings Dividends Beg. Bal. Beg. Bal. End. Bal End. Bal Service Revenue Advertising Expense Beg. Bal. Beg. Bal. End. Bal End. Bal Salaries Expense Rent Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. The following information applies to the questions displayed below.] 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 $ 11,000 Cash Accounts Recelvable 5,400 Prepaid Insurance Equipment 1,300 25,000 Land 183,500 $ 4.200 Accounts Payable Notes Payable Common Stock Retained Earnings 50,900 138,000 15,000 Dividends 5,900 Service Revenue 75,900 Advertising Expense Salaries Expense Rent Expense 11,900 29,200 10,800 $ 284,000 284000 Totals The following transactions occur during December 2018: December 1 Pay rent for mountain lodges the month of December, $1,800. December 5 Provide guided tour to customers in Grand Teton National Park for cash, $3,700 December 8 Borrow from a local bank by signing a note payable, $19,000. The note is due in one year with a 6 % interest rate December 12 Receive cash from customers as payment for a guided tour that occurred on November 28, $4,400. December 13 Issue additional shares of common stock for cash, $29,000. December 15 Pay employee salaries for the first half of the month, $2,100. December 17 Purchase advertising on several local radio stations to be aired during the following two weeks, $1,900. December 22 Provide guided tour to customers in Yellowstone National Park on account, $4,100 December 23 One of the customers from the December 22 tour claims to have seen the legendary creature Bigfoot. The company believes this exciting news will create additional revenue of $29,000 next year. December 26 Purchase several pieces of hiking equipment to give customers a more enjoyable adventure, such as night-vision goggles, GPS, long-range binoculars, and video cameras, for cash, $29,400. December 28 Pay cash on accounts payable, $2,400. December 31 Pay dividends to stockholders, $2,900Step by Step Solution
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