RiverHawk Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of operations in 2024, RiverHawk has the following account balances.

The following transactions occur during December 2024:

Required:
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.

3. Calculate the balance of each account at December 31, 2024.

4. Prepare a trial balance as of December 31, 2024.

Transcribed Image Text:

RIVERHAWK EXPEDITIONS Trial Balance November 30, 2024 Debits Accounts Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Salaries Expense Rent Expense Totals $ 9,200 4,500 400 24,100 170,000 5,000 Credits $3,300 50,000 120,000 14,100 75,000 11,000 28,300 9,900 $262,400 $262,400