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; Won, Capital; Won, Withdrawals; 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.) 2. T-accounts have been opened for you. Post the journal entries to the T-accounts, and calculate account balances. Use the transaction dates as posting references. 3. Prepare a trial balance as of December 31, 2024. 4. Prepare the income statement of Wonder Wilderness Company for the two months ended December 31, 2024. 5. Prepare the statement of owner's equity for the two months ended December 31, 2024. 6. Prepare the balance sheet as of December 31, 2024. 7. Calculate the debt ratio for Wonder Wilderness Company at December 31, 2024. Nov. 1 Nov. 2 Nov. 3 Nov. 4 Nov. 7 Nov. 13 Nov. 15 Nov. 16 Nov. 20 Nov. 22 Nov. 26 Nov. 28 Nov. 30 Received $15,000 cash to begin the company and gave capital to Alison Won. Signed a lease for a building and paid $700 for the first month's rent. Purchased canoes for $5,000 on account. Purchased office supplies on account, $700. Earned $1,800 cash for rental of canoes. Paid $2,000 cash for wages. Won withdrew $250 cash from the business. Received a bill for $120 for utilities. (Use separate payable account.) Received a bill for $110 for cell phone expenses. (Use separate payable account.) Rented canoes to Tender Time on account, $2,500. Paid $2,600 on account related to the November 3 purchase. Received $1,400 from Tender Time for canoe rental on November 22. Won withdrew $450 cash from the business. Dec. 1 Dec. 1 Dec. 2 Dec. 4 Dec. 9 Dec. 15 Dec. 16 Dec. 18 Dec. 19 Dec. 20 Dec. 31 Dec. 31 Alison contributed land on the river (worth $65,000) and a small building to use as a rental office (worth $166,000) in exchange for capital. Prepaid $2,100 for three months' rent on the warehouse where the company stores the canoes. Purchased canoes signing a notes payable for $5,760. Purchased office supplies on account for $600. Received $4,400 cash for canoe rentals to customers. Rented canoes to customers for $3,700, but will be paid next month. Received a $350 deposit from a canoe rental group that will use the canoes next month. Paid the utilities and telephone bills from last month. Paid various accounts payable, $3,000. Received bills for the telephone ($300) and utilities ($240) which will be paid later. Paid wages of $2,400. Won withdrew $550 cash from the business. Cash + 1 15,000+ 2(700)+ Bal. 14,300 + 3 Bal. 14,300 + 4 Bal. 14,300 + 1,800 + 7. Bal. 16,100 + 13 (2.000) + Bal. 14,100 + (250) + 15 Bal. 13,850 + + 16 Bal. 13,850 + Bal. + Assets A/R + Off. + Canoes = Sup. + 0 + + 0 + + 0+ 700+ 0 + 0 + 700 + 20 Bal. 13,850 + 22 Bal. 13,850 + 2,500 + 26 (2,600) Bal. 11,250 + 1,400 0 + 700 ++ 0 + 700+ 2,500 + + 0 + 700+ ++ 0 + 700+ + +_+ 28 Bal. 12,650 + 1,100 + 700 + 30 (450) 12,200 700+ + 2,500 + 700+ (1,400) 19,000 1,100 700 0= 5,000 5,000 5,000 = 5,000 = 5,000 = Liabilities A/P + Util. + Tele. + Won, Pay. Pay. 5,000 0+ 5,000 5,000 + 700 5,000 5,700 + 5,000 = 5,700 + 5,700 + 5,700 + 5,000= 5,700 + 0 + 700+ 5,000 5,700 + 120 + + = $ + + __________________________+ 0 + 0 + + 0+ +_+_____+ 0+ - _________________+ 0 + - +_+_+ 0 + 120 120 + + + + 5,000 3,100+ 120+ + 15,000 - + 0 + 15,000- - 0+ 15,000- 0+ 15,000- - Capital Withdr. 0 + 15,000 - 5,000 = 5,700 + 120 + (2,600) + _+_+ 3,100 + 120 + 0+ 15,000- 0+ 15,000- 0+ 15,000- 110 110 + 15,000- + 110 + 15,000- 110 + 15,000 - 3,100 120 110 15,000 110 + 15,000- Equity Won, + Rent - Rent Rev. Exp. + + 0 + + 0 + 250 + 0 + + + + + 0+ 1,800 700- 0- 0- 0 + 1,800 700- + 1,800 700 700- 0 - 700- 250 1,800 700- + 700- 250 1,800 700- 19,000 250+ 4,300 - 700- 450 700 4,300 Util. Exp. 0- 700 0- 0- 0- Wage - Tele. Exp. Exp. 0- 0 120 B 250+ 1,800- 700- 120- 2,000 - 2,500 250+ 4,300 700- 120- 2,000 - 0- 0- 2,000 0- 2,000 - 250+ 4,300 - 700- 120- 2,000 - 0 - 2,000 - 120- 2,000 - 120- 2,000 - 0 0 0 0 0 110 110 110 110 110 120 2,000 110