Problem 2-9A Complete the steps in the measurement of external transactions (L02-4, 2-5, 2-6) [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 2021, River Hawk has the following account balances. Credits RIVERHAWK EXPEDITIONS Trial Balance November 30, 2021 Accounts Debits Cash $ 11,400 Accounts Receivable 5,600 Prepaid Insurance 1,500 Equipment 25, 200 Land 186,500 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends 6,100 Service Revenue Advertising Expense 12,100 Salaries Expense 29,400 Rent Expense 11,000 Totals $288,800 $ 4,400 51,100 142,000 15,200 76, 100 $288, 800 The following transactions occur during December 2021: rate. December 1 Pay rent for mountain lodges for the month of December, $2,000. December 5 Provide guided tour to customers in Grand Teton National Park for cash, $3,900. December 8 Borrow from a local bank by signing a note payable, $21,000. The note is due in one year with a 6% interest December 12 Receive cash from customers as payment for a guided tour that occurred on November 28, $4,600. December 13 Issue additional shares of common stock for cash, $31,000. December 15 Pay employee salaries for the first half of the month, $2,300. December 17 Purchase advertising on several local radio stations to be aired during the following two weeks, $2,100. December 22 Provide guided tour to customers in Yellowstone National Park on account, $4,300. 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 $31,000 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, $29,600. December 28 Pay cash on accounts payable, $2,600. December 31 Pay dividends to stockholders, $3,100. Required: 1. Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry account field.) View transaction list View journal entry worksheet Debit Credit No 1 Date General Journal December 01 No Transaction Recorded 2 December 05 No Transaction Recorded 3 December 08 No Transaction Recorded 1 December 12 No Transaction Recorded 5 December 13 0 6 December 15 0 7 December 17 0 December 22 0 9 December 23 0 10 December 26 0 11 December 28 0 12 December 31 0 Problem 2-9 A Part 2 and 3 2.&3. Postesch transaction to the appropriate Taccounts and Calculate the balance of each account st December 31 (Hint Be to include the balance at the beginning of December in esch T-sccount) Cach Accounts Raonivable Beg Bail Beg Bal End. Bal End. Bal Prepaid Insurance Equipment Bog. Bal Beg Bel End Bal End. Bei Land Ascunts Payable Beg Bal Beg Bai End. Bal End. Bal Notes Payabio Common took Bog. Bal Beg Bel End. Bol End. Bal Ratained Earnings Dividendo Bog. Bal Beg Bal End. Bal End. Bal Service Revenue Advertising Expance Beg Ba Beg Bal End. Bal End. Bal Balarlac Eupance Rant Expense Beg Bali Bog. Bal End. Bal End. Bal Problem 2-9A Part 4 4. Prepare a trial balance as of December 31. RIVERHAWK EXPEDITIONS Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense Rent Expense Totals S 05 0
