complete income statement and balance sheet
Dates: Nov 05 to: Dec 30 \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Allowance for Uncollectible Accounts } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 2.800 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Inventory } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 11.000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Prepaid Insurance } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 1,300 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Land } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 900,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Equipment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 103,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accumulated Depreciation } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 29,250 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 24,800 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Interest Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 1.750 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income Tax Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16.500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Deferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 9.000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (Current) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 88,424 \\ \hline \end{tabular} \begin{tabular}{|r|r|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (Long-term) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 844,565 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Contingent Liability } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Warranty Liability } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 8,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & & & & 20,000 \\ \hline 1 & Nov 05 & & 140,000 & 160,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Additional Paid in Capital } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & Nov 05 & & & 0 \\ \hline 3 & Nov 24 & & 15,400 & 15,400 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Retained Earnings } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 35.450 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Service Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 46,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Sales Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 160,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Sales Discounts } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 550 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Interest Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 520 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 40,500 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 19.250 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 40.500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Deprociation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 19.250 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 1.500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Salaries Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 34.000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bad Debt Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 3,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Interest Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 11.773 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Rent Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 4,400 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income Tax Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Insurance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 7.700 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Repairs and Maintenance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 800 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Warranty Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 8,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Loss } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,000 \\ \hline \end{tabular} GREAT ADVENTURES, INC Trial BaLance December 30,2022 GREAT ADVENTURES, INC. Balance Sheot December 31,2022 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 140,000 shares of common stock for $10 per share. November16 Purchase 14,000 shares of Its orm comon stock (1.e., treasury stock) for $35 per share. November24 Hesel1.8,000 thares of treasury stock at 536 per share. Decebber 1 Declare a cash dividend on its coemon stock of $15,400 (se.19 per share) to all stockholders of record on Decenber 15 . Deceaber20 Pay the cash dividend declared on Decenber 1. Deceeber31 Pay 5900,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Bulidings account. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the firit account field.) General Ledger Account \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 24,800 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Interest Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 1,750 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income Tax Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Deferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 9,000 \\ \hline \end{tabular} \begin{tabular}{|r|r|c|c|r|} \hline \multicolumn{5}{|c|}{ Notes Payable (Current) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 88,424 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Contingent Liability } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,000 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (Long-term) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 844,565 \\ \hline \multicolumn{5}{|c|}{} \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Contingent Liability } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 16,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Warranty Liability } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 8,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{6}{|c|}{ Sales Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 160,000 \\ \hline 7 & Dec 31 & 160,000 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|r|} \hline \multicolumn{7}{|c|}{ Sales Discounts } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 550 \\ \hline & 7 & Doc 31 & & 550 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Now 05 & & & 520 \\ \hline 7 & Dec 31 & 520 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{7}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 40,500 \\ \hline 8 & Dec 31 & & 40,500 & 0 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 19,250 \\ \hline 8 & Doc 31 & & 19,250 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{7}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 1,500 \\ \hline 8 & Doc 31 & & 1,500 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Salaries Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 34,000 \\ \hline 8 & Dec 31 & & 34,000 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|r|} \hline \multicolumn{7}{|c|}{ Bad Debt Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & Nov 05 & & & 3,400 \\ \hline 8 & Dec 31 & & 3,400 & 0 \\ \hline \end{tabular} Incoma Tay Fxnanea Insurance Exdense
