RiverHawk Expeditions provides guided tours in scenicmountainous areas. After the first 11 months of operations in 2018,RiverHawk has the following account balances: RIVERHAWK EXPEDITIONSTrial BalanceNovember 30, 2018 AccountsDebitsCredits Cash$10,600 AccountsReceivable5,200 PrepaidInsurance1,100 Equipment24,800 Land180,500 AccountsPayable$4,000 Notes Payable50,700 Common Stock134,000 RetainedEarnings14,800 Dividends5,700 Service Revenue75,700 AdvertisingExpense11,700 SalariesExpense29,000 Rent Expense10,600 Totals$279,200 $279,200 The following transactions occur during December 2018: December 1 Pay rent for mountain lodges the month ofDecember, $1,600.December 5 Provide guided tour to customers in GrandTeton National Park for cash, $3,500.December 8 Borrow from a local bank by signing a notepayable, $17,000. The note is due in one year with a 6% interestrate.December 12 Receive cash from customers as payment for a guidedtour that occurred on November 28, $4,200.December 13 Issue additional shares of common stock for cash,$27,000.December 15 Pay employee salaries for the first half of the month,$1,900.December 17 Purchase advertising on several local radio stations tobe aired during the following two weeks, $1,700.December 22 Provide guided tour to customers in YellowstoneNational Park on account, $3,900.December 23 One of the customers from the December 22 tour claimsto have seen the legendary creature Bigfoot. The company believesthis exciting news will create additional revenue of $27,000 nextyear.December 26 Purchase several pieces of hiking equipment to givecustomers a more enjoyable adventure, such as night-vision goggles,GPS, long-range binoculars, and video cameras, for cash,$29,200.December 28 Pay cash on accounts payable, $2,200.December 31 Pay dividends to stockholders, $2,700.– Post each transaction to the appropriate T-accounts andCalculate the balance of each account at December 31.(Hint: Be sure to include the balance at the beginning ofDecember in each T-account.) – Prepare a trial balance as of December 31.
For over 13 years, we have offered unmatched academic services to students. While at it, we have developed a culture that allows us to keep our clients first. Also, the experience and skillset acquired over the years have refined us and consequently, led to the delivery of the best Academic products. Your Success is our Pride.
How we have managed to stay on Top :
1. Our Qualified Writers and Tutors: Our success is mainly because of our writers and tutors who endeavor to see that all papers are done excellently.
2. Papers of Top Quality: We guarantee top quality papers by employing unique research methods.
3. 100% Product Originality: Originality is the core pillar of our business. We use software and human intellect to check for originality and errors.
4. Timely Delivery: We commit to delivering all assignments within the stipulated timeframe. As such, resources are committed to an assignment depending on the delivery schedule.
5. Pricing: Our price ranges are custom developed to cater for all students. Additionally, we have amazing Discounts.
6. 24/7 Customer Care: We are available through-out to answer and serve our clients.
(it’s simple and quick)