Also, I need to get #7,8,9 on General Journal too.
Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, or post- closing balances will appear for each account, based on your selection. Post-closing Dates: Nov 05 to: Dec 31 GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Credit $ Debit 214,912 50,800 2,480 7,800 980 580,000 70,240 26,050 820,000 Cash * Accounts Receivable *Allowance for Uncollectible Accounts inventory * Prepaid Insurance Land Equipment Accumulated Depreciation * Buildings Accounts Payable Interest Payable *Income Tax Payable * Deferred Revenue *Notes Payable (Long-term) *Notes Payable (Current) Contingent Liability Warranty Liability Common Stock 21,600 950 14,900 5,800 549,608 56,096 12,800 4,800 128.0001 128,000 114,000 976,800 33,850 12,200 44,900 128,000 390 200 Common Stock Treasury Stock Additional Paid-in Capital Retained Earnings Dividends Service Revenue Sales Revenue Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Income Tax Expense Insurance Expense Repairs and Maintenance Expense Warranty Expense 38,900 17,650 700 26,000 2,600 7,782 2,800 14,900 6,100 480 Loss 4,800 12,800 2,006,834 $ Total 2,006,834 Great Adventures Problem AP10-1 (GL) Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2022: November 5 Issue an additional 108,000 shares of common stock for $10 per share. November 16 Purchase 10,800 shares of its own common stock (i.e., treasury stock) for $19 per share. November 24 Resell 4,800 shares of treasury stock at $20 per share. Declare a cash dividend on its common stock of $12,200 ($0.10 per share) to all stockholders of record on December 1 December 15. December 20 Pay the cash dividend declared on December 1. Pay $ 820,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the December 31 Buildings account. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the 'Trial Balance' as of December 31, 2022, in the 'Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31, 2022, in the 'Income Statement' tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. Nov 05 Cash 1,080,000 Common Stock Additional Paid-in Capital 108,000 972,000 Nov 16 205,200 Treasury Stock Cash 205,200 Nov 24 96,000 Cash Treasury Stock Additional Paid-in Capital 91,200 4,800 4. Dec 01 12,200 Dividends Dividends Payable 12,200 Dec 20 Dividends Payable 12,200 Cash 12,200 Dec 30 820,000 Buildings Cash 820,000 7 Dec 31 Cash 8 Dec 31 Cash Dec 31 No Transaction Recorded For the Period Ended December 31, 2022 $ 0 Additional Paid-in Capital X 976,800 0 Net Sales 976,800 $ 976,800 Gross Profit Operating Expense Total Operating Expenses Operating Income (Loss) 976,800 0 0 976,800 $ 976,800 GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Current Assets Long-term Assets: Total Liabilities Stockholders' Equity O 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total assets
