1. Aug 1 - Great Adventures obtains $30000, low intrest loan for the company. Loan is Due in 3 Years and 6% annual intrest is due each year on July 31

2. Aug 4 - The Comapny purchases 14 kayaks, paying 40,320 cash in total

3. Aug 10 - 20 Kayakers pay $3,800 for clinic.

4. Aug 12 - Collected 2000 from july clinic

5 Aug 17- Tond Conducts second Kayak clinic and the company recives 10500 cash

6. Aug 24 Paid for supples purchased on account on july 4 in full, $1,900

7. Sep 1 Company Rents storage for mountain bikes on kayaks when not in usefor onea year paying $2,400 ($200 Per month)

8. Sep 21 Tony conducts a rock climber clinic. The company bills clients $13,200 that is due in 30 Days

9. Oct 17 Paid the Local Radio Station $1,200 for advertising Great Adventures for the remainder of October

10. Oct 20. Collected 80% of amount due from the Sep 21 Rock Climbing Clinic

11. Dec 1 Tony decides to hold company first adventure race on Dec 14. The entry fee will be $500 for each team

12. Dec 5 To help with the race, Tony hires Victor will be paid $50 salary for each team that competes in race. Hos salary will be paid after the race

13. Dec 8 Company pays $1,200 for permit in state park where the race will be. Amount will be recorded as a MISC expense

14. Dec 12 - The company purchases racing supplies $2,800 on account due in 30 Days.

15 Dec 15 The company receives $20,000 Cash from a total of 40 teams that are in the race.

16 Dec 16 Company pays Victors Salary (ignore Taxes)

17 Dec 31 The Company pays divided of $4000 ( $2000 to Tony and $2000 to Suzie)

18 Dec 31 Using personal money Tony purchases a diamond ring for $4,500. Tony surpises Suzie by proposing, She accepts and they get married.

File Home Insert Page Layout Formulas Data Review View Help Search B Share Comments A1 X fx Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as G J A B D E F H Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they 1 plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 37,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The unadjusted trial balance as of July 31 (Chapter 2 Homework), the end of the first months operations is presented below: 3 4 5 Great Adventures 6 Unadjusted Trial Balance 7 July 31, 2021 8 Account DR CR 9 Cash 30,590 10 Accounts Receivable 2,000 11 Prepaid Insurance 4,920 12 Supplies-Office 1,900 13 Equipment-Bikes 11,900 14 Accounts Payable 1,900 15 Deferred Revenue 11,200 16 Common Stock 37,000 17 Service Revenue 3,600 18 Advertising Expense 1,090 19 Legal Fees Expense 1,300 20 21 Totals 53,700 53,700 22 23 The following transactions took place during the remainder of 2021. Note the beginning balances from the July transactions (Ch 2 Homework) have already been loaded into the ledger. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due 25 in three years, and 6% annual interest is due each year on July 31. 26 Aug. 4 The company purchases 14 kayaks, paying $40,320 cash in total. 27 Aug. 10 Twenty kayakers pay $3,800 ($190 each) for the kayak clinic on the day of the clinic. Tony conducts the first kayak clinic. 28 Aug 12 Collected $2.000 on account from the July clinic. Instructions Journal-Daily Journal-Closing Journal-Adiusting General Ledger Trial Balance Financials File Home Insert Page Layout Formulas Data Review View Help O Search B Share Comment A1 fr Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as G J 22 33 Oct. 34 Oct. A B D E F H 23 The following transactions took place during the remainder of 2021. Note the beginning balances from the July transactions (Ch 2 Homework) have already been loaded into the ledger. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due 25 in three years, and 6% annual interest is due each year on July 31. 26 Aug. 4 The company purchases 14 kayaks, paying $40,320 cash in total. 27 Aug. 10 Twenty kayakers pay $3,800 ($190 each) for the kayak clinic on the day of the clinic. Tony conducts the first kayak clinic. 28 Aug. 12 Collected $2,000 on account from the July clinic. 29 Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,500 cash. 30 Aug. 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full, $1,900. 31 Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 ($200 per month) in advance. 32 Sep. 21 Tony conducts a rock-climbing clinic. The company bills the clients $13,200 for the provided clinic due in 30 days. 17 Paid the local radio station $1,200 for advertising Great Adventures for the remainder of October. 20 Collected 80% of the amount due from customers from the September 21 rock-climbing clinic. Dec. 1 Tony to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, | running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team will be $500. 35 Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. 36 8 The company pays $1,200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. 38 Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, 39 Dec 15 The company receives $20,000 cash from a total of forty teams for the adventure race, and the race is held. 40 Dec. 16 The company pays Victor's salary (ignore any taxes). 41 Dec. 31 The company pays a dividend of $4,000 ($2,000 to Tony and $2,000 to Suzie). 42 Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! 43 44 The following information relates to year-end adjusting entries as of December 31, 2021. 45 46 a. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was $5,600. 47 b. Record any necessary adjustment for the one-year insurance policy purchased on July 1. 48 C. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1. Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials + 3 Ready 37 Dec. + A1 . X Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as A B E F G J 37 Dec. D H Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. 36 8 The company pays $1.200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. 38 Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, 39 Dec. 15 The company receives $20,000 cash from a total of forty teams for the adventure race, and the race is held. 40 Dec. 16 The company pays Victor's salary (ignore any taxes). 41 Dec. 31 The company pays a dividend of $4,000 ($2,000 to Tony and $2,000 to Suzie). 42 Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! 43 44 The following information relates to year-end adjusting entries as of December 31, 2021. 45 46 a. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was $5,600. 47 b. Record any necessary adjustment for the one-year insurance policy purchased on July 1. 48 c. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1. 49 d. Record any necessary adjustment for the deferred revenue from July, all of the revenue was earned at the August 10 clinic. 50 e. Of the $1,900 of office supplies purchased in July (Chapter 2 Homework), $300 remains. 51 f. Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded. 52 g. Of the $2,800 of racing supplies purchased on December 12, $200 remains. 53 h. Suzie calculates that the company owes $14,000 in income taxes. 54 55 Instructions: 56 1) Record the daily transactions in the Journal - Daily tab 57 2) Post the daily transactions to the Ledger 58 3) Record the necessary adjusting entries in the Journal - Adjusting tab 59 4) Post the adjusting entries to the ledger 60 5) Create an Adjusted Trial Balance 61 6 Create an income statement, statement of shareholders' equity, and a balance sheet 62 7) Record the closing entries in the Journal - Closing tab and Post to the ledger. Ensure all temporary accounts have a zero balance. 63 64 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials Ready + 809 Type here to search W 1:05 AM 9/13/2020 1 G CR 11,900 Please Check Your Asset Accounts 4 Great Adventures, Inc. 5 Adjusted Trial Balance 6 December 31, 2021 7 Account DR 8 Cash 9 Accounts Receivable 10 Supplies Office 11 Supplies-Racing 12 Prepaid Insurance 13 Prepaid Rent 14 Equipment-Kayaks 15 Equipment-Bikes 16 Accumulated Depreciation-Kayaks 17 Accumulated Depreciation-Bikes 18 Accounts Payable 19 Interest Payable 20 Income Taxes Payable 21 Deferred Revenue 22 Notes Payable 23 Common Stock 24 Retained Earnings 25 Dividends 26 Service Revenue 27 Advertising Expense 28 Depreciation Expense 29 Supplies Expense-Office 30 Supplies Expense-Racing 31 Salaries Expense 32 Interest Expense 33 Rent Expense 34 Income Tax Expense 35 Legal Fees Expense 36 Insurance Expense 37 Miscellaneous Expense 38 Please Check The Liability Accounts 37,000 Note: This is a new company, RE will not have a balance until you close the books for the first time. 1,300 Please Check the Equity Accounts 13,200 37,000 39 Totals 40 41 D H K E F G General Ledger Account 1 2 Cash Debit 3 Credit No. BB Date Aug 1 Balance 30,590 No. BB Accounts Receivable Date Debit Credit Aug 1 Balance 2,000 4 5 6 7 8 9 10 No. Supplies-Office Date Debit Aug 1 Credit Balance 1,900 BB 11 12 13 14 Supplies-Racing Date Debit No. Credit Balance 15 16 17 18 Prepaid Insurance Date Debit Credit Aug 1 Prepaid Rent Debit No. Date Credit No. BB Balance Balance 4,9201 19 20 21 22 23 24 25 26 27 28 29 30 Equipment-Kayaks Date Debit Credit No. Balance Equipment-Bikes Date Debit Aug 1 No. BB Credit Balance 11,900 31 32 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Bal Ready 1 Type here to search O DI File Home Insert Page Layout Formulas Data Review View Help E6 fic A B D F G H J K 31 32 33 34 35 Accumulated Depreciation-Bikes Date Debit Credit Accumulated Depreciation-Kayaks Date Debit Credit No. Balance No. Balance 36 37 38 39 Accounts Payable Date Debit Credit Aug 1 Interest Payable Date Debit No. Credit No. BB Balance Balance 1,900 40 41 42 43 44 Income Taxes Payable Date Debit Credit No. Balance 45 46 47 48 No. BB Deferred Revenue Date Debit Credit Aug 1 Balance 11,200 Notes Payable Debit No. Date Credit Balance Common Stock Date Debit Aug 1 No. BB Credit Balance 37,000 49 50 51 52 53 54 55 56 57 58 59 60 61 Retained Earnings Date Debit Credit Dividends Debit No. Balance No. Date Credit Balance 62 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Ready O Type here to search O H No. 64 65 66 67 68 Service Revenue Date Debit Credit Aug 1 Balance 3,600 BB 69 70 71 72 73 74 Advertising Expense Date Debit Credit Aug 1 Depreciation Expense Date Debit Credit Balance No. No. BB Balance 1,090 75 76 77 78 79 80 81 82 Supplies Expense-Office Date Debit Credit Supplies Expense-Racing Date Debit Credit 83 No. Balance No. Balance 84 85 86 87 88 Salaries Expense Date Debit Credit Interest Expense Date Debit 89 No. Balance No. Credit Balance 90 91 92 93 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger T Ready Type here to search JI 93 94 Rent Expense Debit Income Tax Expense Date Debit Credit No. Date Credit Balance No. Balance 95 96 97 98 Legal Fees Expense Date Debit Credit Aug 1 Insurance Expense Date Debit Credit No. No. BB Balance Balance 1,300 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 Miscellaneous Expense Date Debit Credit No. Balance File Home Insert Page Layout Formulas Data Review View Help Search B Share Comments A1 X fx Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as G J A B D E F H Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they 1 plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 37,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The unadjusted trial balance as of July 31 (Chapter 2 Homework), the end of the first months operations is presented below: 3 4 5 Great Adventures 6 Unadjusted Trial Balance 7 July 31, 2021 8 Account DR CR 9 Cash 30,590 10 Accounts Receivable 2,000 11 Prepaid Insurance 4,920 12 Supplies-Office 1,900 13 Equipment-Bikes 11,900 14 Accounts Payable 1,900 15 Deferred Revenue 11,200 16 Common Stock 37,000 17 Service Revenue 3,600 18 Advertising Expense 1,090 19 Legal Fees Expense 1,300 20 21 Totals 53,700 53,700 22 23 The following transactions took place during the remainder of 2021. Note the beginning balances from the July transactions (Ch 2 Homework) have already been loaded into the ledger. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due 25 in three years, and 6% annual interest is due each year on July 31. 26 Aug. 4 The company purchases 14 kayaks, paying $40,320 cash in total. 27 Aug. 10 Twenty kayakers pay $3,800 ($190 each) for the kayak clinic on the day of the clinic. Tony conducts the first kayak clinic. 28 Aug 12 Collected $2.000 on account from the July clinic. Instructions Journal-Daily Journal-Closing Journal-Adiusting General Ledger Trial Balance Financials File Home Insert Page Layout Formulas Data Review View Help O Search B Share Comment A1 fr Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as G J 22 33 Oct. 34 Oct. A B D E F H 23 The following transactions took place during the remainder of 2021. Note the beginning balances from the July transactions (Ch 2 Homework) have already been loaded into the ledger. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due 25 in three years, and 6% annual interest is due each year on July 31. 26 Aug. 4 The company purchases 14 kayaks, paying $40,320 cash in total. 27 Aug. 10 Twenty kayakers pay $3,800 ($190 each) for the kayak clinic on the day of the clinic. Tony conducts the first kayak clinic. 28 Aug. 12 Collected $2,000 on account from the July clinic. 29 Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,500 cash. 30 Aug. 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full, $1,900. 31 Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 ($200 per month) in advance. 32 Sep. 21 Tony conducts a rock-climbing clinic. The company bills the clients $13,200 for the provided clinic due in 30 days. 17 Paid the local radio station $1,200 for advertising Great Adventures for the remainder of October. 20 Collected 80% of the amount due from customers from the September 21 rock-climbing clinic. Dec. 1 Tony to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, | running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team will be $500. 35 Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. 36 8 The company pays $1,200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. 38 Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, 39 Dec 15 The company receives $20,000 cash from a total of forty teams for the adventure race, and the race is held. 40 Dec. 16 The company pays Victor's salary (ignore any taxes). 41 Dec. 31 The company pays a dividend of $4,000 ($2,000 to Tony and $2,000 to Suzie). 42 Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! 43 44 The following information relates to year-end adjusting entries as of December 31, 2021. 45 46 a. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was $5,600. 47 b. Record any necessary adjustment for the one-year insurance policy purchased on July 1. 48 C. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1. Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials + 3 Ready 37 Dec. + A1 . X Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as A B E F G J 37 Dec. D H Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. 36 8 The company pays $1.200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. 38 Dec. 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, 39 Dec. 15 The company receives $20,000 cash from a total of forty teams for the adventure race, and the race is held. 40 Dec. 16 The company pays Victor's salary (ignore any taxes). 41 Dec. 31 The company pays a dividend of $4,000 ($2,000 to Tony and $2,000 to Suzie). 42 Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! 43 44 The following information relates to year-end adjusting entries as of December 31, 2021. 45 46 a. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was $5,600. 47 b. Record any necessary adjustment for the one-year insurance policy purchased on July 1. 48 c. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1. 49 d. Record any necessary adjustment for the deferred revenue from July, all of the revenue was earned at the August 10 clinic. 50 e. Of the $1,900 of office supplies purchased in July (Chapter 2 Homework), $300 remains. 51 f. Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded. 52 g. Of the $2,800 of racing supplies purchased on December 12, $200 remains. 53 h. Suzie calculates that the company owes $14,000 in income taxes. 54 55 Instructions: 56 1) Record the daily transactions in the Journal - Daily tab 57 2) Post the daily transactions to the Ledger 58 3) Record the necessary adjusting entries in the Journal - Adjusting tab 59 4) Post the adjusting entries to the ledger 60 5) Create an Adjusted Trial Balance 61 6 Create an income statement, statement of shareholders' equity, and a balance sheet 62 7) Record the closing entries in the Journal - Closing tab and Post to the ledger. Ensure all temporary accounts have a zero balance. 63 64 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials Ready + 809 Type here to search W 1:05 AM 9/13/2020 1 G CR 11,900 Please Check Your Asset Accounts 4 Great Adventures, Inc. 5 Adjusted Trial Balance 6 December 31, 2021 7 Account DR 8 Cash 9 Accounts Receivable 10 Supplies Office 11 Supplies-Racing 12 Prepaid Insurance 13 Prepaid Rent 14 Equipment-Kayaks 15 Equipment-Bikes 16 Accumulated Depreciation-Kayaks 17 Accumulated Depreciation-Bikes 18 Accounts Payable 19 Interest Payable 20 Income Taxes Payable 21 Deferred Revenue 22 Notes Payable 23 Common Stock 24 Retained Earnings 25 Dividends 26 Service Revenue 27 Advertising Expense 28 Depreciation Expense 29 Supplies Expense-Office 30 Supplies Expense-Racing 31 Salaries Expense 32 Interest Expense 33 Rent Expense 34 Income Tax Expense 35 Legal Fees Expense 36 Insurance Expense 37 Miscellaneous Expense 38 Please Check The Liability Accounts 37,000 Note: This is a new company, RE will not have a balance until you close the books for the first time. 1,300 Please Check the Equity Accounts 13,200 37,000 39 Totals 40 41 D H K E F G General Ledger Account 1 2 Cash Debit 3 Credit No. BB Date Aug 1 Balance 30,590 No. BB Accounts Receivable Date Debit Credit Aug 1 Balance 2,000 4 5 6 7 8 9 10 No. Supplies-Office Date Debit Aug 1 Credit Balance 1,900 BB 11 12 13 14 Supplies-Racing Date Debit No. Credit Balance 15 16 17 18 Prepaid Insurance Date Debit Credit Aug 1 Prepaid Rent Debit No. Date Credit No. BB Balance Balance 4,9201 19 20 21 22 23 24 25 26 27 28 29 30 Equipment-Kayaks Date Debit Credit No. Balance Equipment-Bikes Date Debit Aug 1 No. BB Credit Balance 11,900 31 32 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Bal Ready 1 Type here to search O DI File Home Insert Page Layout Formulas Data Review View Help E6 fic A B D F G H J K 31 32 33 34 35 Accumulated Depreciation-Bikes Date Debit Credit Accumulated Depreciation-Kayaks Date Debit Credit No. Balance No. Balance 36 37 38 39 Accounts Payable Date Debit Credit Aug 1 Interest Payable Date Debit No. Credit No. BB Balance Balance 1,900 40 41 42 43 44 Income Taxes Payable Date Debit Credit No. Balance 45 46 47 48 No. BB Deferred Revenue Date Debit Credit Aug 1 Balance 11,200 Notes Payable Debit No. Date Credit Balance Common Stock Date Debit Aug 1 No. BB Credit Balance 37,000 49 50 51 52 53 54 55 56 57 58 59 60 61 Retained Earnings Date Debit Credit Dividends Debit No. Balance No. Date Credit Balance 62 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Ready O Type here to search O H No. 64 65 66 67 68 Service Revenue Date Debit Credit Aug 1 Balance 3,600 BB 69 70 71 72 73 74 Advertising Expense Date Debit Credit Aug 1 Depreciation Expense Date Debit Credit Balance No. No. BB Balance 1,090 75 76 77 78 79 80 81 82 Supplies Expense-Office Date Debit Credit Supplies Expense-Racing Date Debit Credit 83 No. Balance No. Balance 84 85 86 87 88 Salaries Expense Date Debit Credit Interest Expense Date Debit 89 No. Balance No. Credit Balance 90 91 92 93 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger T Ready Type here to search JI 93 94 Rent Expense Debit Income Tax Expense Date Debit Credit No. Date Credit Balance No. Balance 95 96 97 98 Legal Fees Expense Date Debit Credit Aug 1 Insurance Expense Date Debit Credit No. No. BB Balance Balance 1,300 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 Miscellaneous Expense Date Debit Credit No. Balance