answer all parts of the question
Tony and Suzie see the neod for a rugged alt-tertain vehicle to transport participants and supplies. They decide to purchase oused Suburban on July 1,2025, for $12,200. They expect to use the Suburban for five years and then sell the vehicle for $4,600. The following expenditures related to the vehicle were also made on July 1,2025: * The company pays $1,850 to GEico for a one-year insurance pollicy. - The company spends an extra $3,200 to repaint the vehicle, placing the Great, Adventures fogo on the front hood, back, and both soles: - An additional $2,050 is spent on a delume roof rack and a traller hitch. The painting, foof rack, and hach are all expected to increose the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $500 for basic vehicle maintenance related to changing the ou, replacing the windshield wipers, rotating the tires, and inserting al new air fitier: 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the Thal Bolance' tabs to see the effect of the transdetions on the account balances. Bolance' tabs to see the effect of the transdetions on the accos 2. Record the adjuting enthes in the 'General Joumal' tab. 3. Review the adjusted "Tial balance of of December 31, 2025, in the Thai tsalance' tab. 4. Rrepare an income statement for the period ended December 31, 2025, in the "fncome Statement' tab. 5. Prepare a classified balance sheet as of December 31,2025 in the 'tulance Sheet' tab. 6. Record the closing entries in the 'General Joumar tab follo suburban for five years and then sell the vehicle for $4,600. The following expenditures related to the vehicle were also made on July 1,2025: - The company pays $1,850 to GEICO for a one-yeor insurance policy. - The company spends an extra $3,200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,050 is spent on a deluxe roof rack and a traler hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $500 for basic vehicle maintenance related to changing the oil, replacing the windshieid wipers, rotating the tires, and inserting a new air filter: Prepare the journal entries for transactions: (II no entry is required for a transaction/event, select "No Journal Entry Required" in the first account neld.) Journal entry worksheet 2. 3450 Record the expenditures related to the vehicle on July 1, 2025, Note: The capitalized cost of the vehicle is recorded in the Equipment account. Notei Enter debits before credis. The balance sheet is the accounting equabion: Assets = Labilities + Equity. Each asset and liabllity account is reported separately on the batance sheet. The unadjusted, adjusted, or post-dosing balances will appear for each sccount, based on your selection Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on vour selection
