00 8 Great Adventures Problem AP31 The following information is to the question played below) Tony and Suzie graduate from college in May 2021 and begin vergthe news. They begin by clinics for basic unor activities such as mountain biking or ayaking on developing customers the their first adventure aces. These races will involve four-person tons that conne che point to the rest combination of kayaking, mountain biking orientering and train long run, they todo and develop a ropes.com for outdoor en On July 1, 2021 Tony and Suzie organize their new company is corporation, Great Adventure The incorporation state that the corporation will 38.000 shares of common lock for each Each shock represents a unit of ownership Tony and will act as co presents of the company. The flowing con from July through December 31 1. cines PER within . Jahr Jul 15 de un ter tadt Inende pany hy DE RE ate B The 16 de Tony. The out. 1. chorar . th Trocken Go Witry to oth Olete the ay that The 100 rundt 11 12 Toinetter. Polo Tutti i to prepare the the 200 Dec 16 Var . termond The following information relates to year-end adjusting entries of December 2021 a. Depreciation of the mountain bikes purchased on and kayaks purchased on August $8.200 b. Six months of the one year insurance polley purchased only has expired c Four months of the one year rental agreement purchased on September the pred d. Of the $1600 of office supplies purchased on y 4, 5270 m e. Interest expense on the $35.000 loan obtained from the city counc on August should be recorded for the $2.500 of racing supplies purchased on December 12.5960 romane o Suzie calculates that the company owes $14.000 in income ! Required information 8. Prepare a post-closing trial balance as of December 31, 2021. Credit GREAT ADVENTURES, Inc. Post-closing Trial Balance December 31, 2021 Accounts Debit Cash Prepaid Insurance Prepaid Rent Supplies (Office) Supplies (Racing) Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Required information Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Miscellaneous Expense Rent Expense Salries Expense Supplies Expense (Office) Supplies Expense (Racing) Totals 00 8 Great Adventures Problem AP31 The following information is to the question played below) Tony and Suzie graduate from college in May 2021 and begin vergthe news. They begin by clinics for basic unor activities such as mountain biking or ayaking on developing customers the their first adventure aces. These races will involve four-person tons that conne che point to the rest combination of kayaking, mountain biking orientering and train long run, they todo and develop a ropes.com for outdoor en On July 1, 2021 Tony and Suzie organize their new company is corporation, Great Adventure The incorporation state that the corporation will 38.000 shares of common lock for each Each shock represents a unit of ownership Tony and will act as co presents of the company. The flowing con from July through December 31 1. cines PER within . Jahr Jul 15 de un ter tadt Inende pany hy DE RE ate B The 16 de Tony. The out. 1. chorar . th Trocken Go Witry to oth Olete the ay that The 100 rundt 11 12 Toinetter. Polo Tutti i to prepare the the 200 Dec 16 Var . termond The following information relates to year-end adjusting entries of December 2021 a. Depreciation of the mountain bikes purchased on and kayaks purchased on August $8.200 b. Six months of the one year insurance polley purchased only has expired c Four months of the one year rental agreement purchased on September the pred d. Of the $1600 of office supplies purchased on y 4, 5270 m e. Interest expense on the $35.000 loan obtained from the city counc on August should be recorded for the $2.500 of racing supplies purchased on December 12.5960 romane o Suzie calculates that the company owes $14.000 in income ! Required information 8. Prepare a post-closing trial balance as of December 31, 2021. Credit GREAT ADVENTURES, Inc. Post-closing Trial Balance December 31, 2021 Accounts Debit Cash Prepaid Insurance Prepaid Rent Supplies (Office) Supplies (Racing) Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Required information Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Miscellaneous Expense Rent Expense Salries Expense Supplies Expense (Office) Supplies Expense (Racing) Totals