Score: 0 of 1 pt 4 1 of 1 (0 complete) v p HW Score: 0%, O of 1 3PF1-55 (similar to) 55 Question Help 1 Nature Gnome Company is a service-based company that rents canoes for use on local lakes and rivers. Alyssa and Zorro Walworth graduated from college about 10 years ago. They both worked for one of the "Big Four" accounting rms and became CPAs. Because they both love the outdoors, they decided to begin a new busines that will combine their love of outdoor activities with their business knowledge. Alyssa and Zorro decide that they will create a new corporation, Nature Gnome Company, or N60 for short. The business began operations on November 1, 2024. 0 (Click the icon to view the transactions.) Read the @uirements. Requirement 1. Analyze the effects of Nature Gnome Company's transactions on the accounting equation. Included are the following headings: Cash, Accounts Receivable (AIR), Office Supplies (Off. Sup.), Canoes; Accounts Payable (A/P), Utilities Payable (Util. Pay.), Telephone Payable (Tele. Pay.), Common Stock (CS), Dividends (Div.), Canoe Rental Revenue (Rent. Rev.), Rent Expense (Rent Exp.), Utilities Expense (Util. Exp.), Wages Expense (Wage Exp.), and Telephone Expense (Tele. Exp.). Analyze the events chronologically, one transaction at a time, beginning with the transaction on November 1. For each transaction that follows the November 1st transaction, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on November 30, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bat." line. including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an accour with a minus sign or parentheses.) Liabilities + Equity A/P + Util. + Tele. + CS - Div + Rent - Rent - Util. - Wage- Tele. Assets Cash + A/R + Off. + Canoes Sup. Pay. Pay. ev. Exp. Exp. Exp. Exp. 1 10,000+ + 700+ 4.600 90+ 180+ 10,00 - 950+ 5,70 - 1,00 - 55 - 1,20 - 180 Received $10,000 cash to begin the company and issued common stock to Alyssa and Zorro. Signed a lease for a building and paid $1,000 for the rst month's rent. Purchased canoes for $4,600 on account. Purchased ofce supplies on account, $700. Earned $2,100 cash for rental of canoes. Paid $1,200 cash for wages. Paid $400 dividends to stockholders. Received a bill for $90 for utilities. (Use separate payable account.) Received a bill for $180 for cell phone expenses. (Use separate payable account.) Rented canoes to Little Lake on account, $3,600. Paid $1,500 on account related to the November 3, 2024, purchase. Received $1,000 from Little Lake for canoe rental on November 22, 2024. Paid $550 dividends to stockholders
