RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 month… Assignment Help

  

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.

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