Question

Spring 2020 Section 902 (1) Kaitlin Cavallo & I 01/17/20 9:38 AM Save Homework: Chapter 2 homework Score: 0 of 1 pt 1 of 1 (0 complete) CP2-42 (similar to) HW Score: 0%, 0 of 1 pt Question Help Anna and Zed decide that they will create a new corporation, Wonder Wilderness Company, or WwC for short. Wonder Wilderness Company is a service based company that rents canoes for use on local lakes and rivers. The business began operations on November 1, 2018 and completed the following transactions in that first month (Click the icon to view the November transactions ) Click the icon to view the transaction analysis chart from November) In addition, Wonder Wilderness Company completed the following transactions for December (Click the icon to view the December transactions) Read the requirements Requirement 1. Journalize the transactions for both November and December, using the following accounts: Cash Accounts Receivable, Office Supplies Prepaid Rent Land Building Canoes, Accounts Payable: Utilities Payable: Telephone Payable. Unearned Revenue Notes Payable. Common Stock Dividends, Canoe Rental Revenue, Rent Expense: Utilities Expense: Wages Expense, and Telephone Expense. Explanations are not required. (Hint For November transactions refer to the transaction analysis chart for November) (Record debits first, then credits Exclude explanations from journal entries.) Nov 1: Received $20,000 cash to begin the company and issued common stock to Anna and Zed. Credit Debit Accounts Date Nov. 1 Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All 38 remaining 32 parts

Answer 1

Answer-1:

General Journal Account Titles Debit Credit Date Cash Nov.01 20,000 Common stock 20,000 Rent expense Nov.02 1,600 Cash 1,600 Nov.03 Canoes 7,200 Account payable 7,200 Office supplies Nov.04 800 Account payable 800 Cash Nov.07 1,000 Canoes rental revenue 1,000 Wages expense Nov.13 1,900 Cash 1,900 Dividend 150 Nov.15 Cash 150 Utility expense Utility payable Telephone expense Nov.16 90 90 Nov.20 140 Telephone payable 140 Account receivable 3,500 Nov.22 Canoes rental revenue 3,500 Account payable 2,500 Nov.26 Cash 2,500 Cash Nov.28 900 Account receivable 900 Dividend Nov.30 250 Cash 250

General Journal Account Titles Debit Credit Date Dec.01 Land 60,000 Building 100,000 Common stock 160,000 Dec.01 Prepaid rent 4,800 Cash 4,800 Dec.02 Canoes 6,720 Notes payable 6,720 Office supplies Dec.4 750 Account payable 750 Cash Dec.09 4,400 Canoes rental revenue 4,400 Account receivable Dec.15 3,600 Canoes rental revenue 3,600 Cash 900 Dec.16 Unearned revenue 900 Utility payable Telephone payable Dec.18 90 140 Cash 230 Account payable 3,000 Dec.19 Cash 3,000 Utility expense Dec.20 230 Utility payable Telephone expense Telephone payable Wages expense 230 300 300 Dec.31 2,100 Cash 2,100 Dec.31 Dividend 700 Cash 700

Answer-2:

GENERAL LEDGER Cash Rent expense Common stock Balance $ 20,000 $ 20,000 $ 160,000 $180,000 Balance Balance Debit Credit Debit Credit Debit Credit Date Date Date $ 20,000 $ 20,000 1,600 $ 18,400 $ 19,400 1,900 $ 17,500 150 $ 17,350 2,500 $ 14,850 $ 15,750 250 $ 15,500 $ 1,600 1,600 Nov.02 Nov.01 Nov.01 Nov.02 Dec.01 $ 1,000 Nov.07 Land Building Nov.13 Balance $ 100,000 Balance Debit Credit Debit Credit Date Date Nov.15 $ 60,000 $60,000 $100,000 Dec.01 Nov.26 Dec.01 900 Nov.28 Account payable Canoes rental revenue Nov.30 Balance 7,200 $ 7,200 800 $ 8,000 $ 5,500 750 $ 6,250 $ 3,250 2$ 4,800 $ 10,700 $ 15,100 $ 16,000 230 $ 15,770 Debit Credit Debit Credit Balance Date Date Dec.01 $ 4,400 $ 1,000 $ $ 3,500 $ 4,400 $ $ 3,600 $ 12,500 1,000 Dec.09 Nov.03 Nov.07 4,500 900 Dec.16 Nov.04 Nov.22 $ 2,500 $4 $ 3,000 Dec.09 8,900 Nov.26 Dec.18 3,000 $ 12,770 2,100 $ 10,670 700 $ $4 Dec.19 Dec.4 Dec.15 Dec.31 Dec.19 9,970 Dec.31 Office supplies Canoes Wages expense Balance Balance $ 1,900 $ 4,000 Debit Credit Debit Credit Date Debit Credit Balance Date Date $ 7,200 $ 6,720 $ 1,900 $ 2,100 7,200 800 800 Nov.03 Nov.13 Nov.04 $ 13,920 750 1,550 Dec.02 Dec.31 Dec.4

Utility payable Telephone payable Dividend Balance Debit Debit Credit Credit Balance Credit Balance Date Date Debit Date 90 $ 140 $ 90 140 150 150 Nov.15 Nov.16 Nov.20 2$ 2$ 90 140 250 400 Dec.18 Nov.30 Dec.18 230 $ 300 $ 2$ 2$ 1,100 230 300 700 Dec.20 Dec.20 Dec.31 Utility expense Telephone expense Account receivable Balance Debit Credit Balance Date Debit Credit Balance Debit Credit Date Date $ 3,500 $ 3,500 900 $ 2,600 $ 6,200 2$ Nov.16 90 90 140 140 Nov.20 Nov.22 300 440 230 320 Nov.28 Dec.20 Dec.20 $ 3,600 Dec.15 Notes payable Unearned revenue Prepaid rent Balance $ 6,720 $ Debit Credit Balance Debit Credit Balance Debit Credit Date Date Date $ 4,800 $ 4,800 900 $ 2$ 900 6,720 Dec.16 Dec.01 Dec.02

Answer-3:

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