Requirement 1. Journalize the transactions for both November and December, using the chart of accounts sheet. ( PLEASE ANSWER ALL OF THESE, THIS IS FOR MY FINAL IN MY ACCOUNTING CLASS AND I REALLY NEED HELP ON THESE JOURNAL ENTRIES. MAKE SURE TO INCLUDE THE DATE, ACCOUNTS, DEBIT, AND CREDIT.)

November 1: Received $21,000 cash to begin the company and gave capital to Alison Winter. (Date) (Accounts) (Debit) (Credit) November 2: Signed a lease for a building and paid $1,500 for the first month's rent. (Date) (Accounts) (Debit) (Credit) November 3: Purchased conoes for $5,000 on account. (Date) (Accounts) (Debit) (Credit) November 4: Purchased office supplies on account, $1,200. (Date) (Accounts) (Debit) (Credit) November 7: Earned $1,100 cash for rental of canoes. (Date) (Accounts) (Debit) (Credit) November 13: Paid $1,000 cash for wages. (Date) (Accounts) (Debit) (Credit) November 15: Winter withdrew $150 cash from the business. (Date) (Accounts) (Debit) (Credit) November 16: Received a bill for $190 for utilities. (Date) (Accounts) (Debit) (Credit) November 20: Received a bill for $100 for cell phone expenses. (Date) (Accounts) (Debit) (Credit) November 22: Rented canoes to Adventure Kings on account, $3,400. (Date) (Accounts) (Debit) (Credit) November 26: Paid $2,600 on account related to the November 3 purchase. (Date) (Accounts) (Debit) (Credit) November 28: Received $800 from Adventure Kings for canoe rental on November 22. (Date) (Accounts) (Debit) (Credit) November 30: Winter withdrew cash of $250 from the business (Date) (Accounts) (Debit) (Credit) December 1: Alison contributed land on the river (worth $85,000) and a small building to use as a rental office (worth $154,000) in exchange for capital (Date) (Accounts) (Debit) (Credit) December 1: Prepaid $4,500 for three month's rent on the warehouse where the company stores the canoes. (Date) (Accounts) (Debit) (Credit) December 2: Purchased canoes signing a note payable for $9,120 (Date) (Accounts) (Debit) (Credit) December 4: Purchased office supplies on account for $400 (Date) (Accounts) (Debit) (Credit) December 9: Received $4,600 cash for canoe rentals to customers (Date) (Accounts) (Debit) (Credit) December 15: Rented canoes to customers for $3,700, but it will be paid next month. (Date) (Accounts) (Debit) (Credit) December 16: Received a $400 deposit from a conoe rental group that will use the canoes next month (Date) (Accounts) (Debit) (Credit) December 18: Paid the utilities and telephone bills from last month (prepare a single, compound journal entry) (Date) (Accounts) (Debit) (Credit) December 19: Paid various accounts payable, $3,000 (Date) (Accounts) (Debit) (Credit) December 20: Received bills for the telephone ($340) and utilities ($310) which will be paid later (Prepare a single compount journal entry, using the separate payable (accounts) (Date) (Accounts) (Debit) (Credit) December 31: Paid wages of $1,900 (Date) (Accounts) (Debit) (Credit) December 31: Winter withdrew cash of $700 from the business. (Date) (Accounts) (Debit) (Credit)

Requirement 2. T-accounts have been opened for you. Post the journal entries to the T-accounts, and calculate account balances. Use the transaction dates as posting references. For the account balances, use a "Bal." posting reference on the proper side of each account to show the ending balances of the accounts.

Cash

Accounts Payable

Canoe Rental Revenue

Rent Expense

Office Supplies

Telephone Payable

Unearned Revenue

Utilities Expense

Canoes

Land

Winter, Capital

Building

Requirement 3. Prepare a trial balance as of December 31, 2024 Nature Gnome Company Trial Balance 31-Dec-24

Account Title

Debit

Balance

Credit

Requirement 4. Prepare the income statement of Nature Gnome Company for the two months ended December 31, 2024

Revenues:

Expenses:

Total Expenses _________

Net Income