Creat Daily Journal
Journal Closing
Journal Adjusting
General Ledger
Trail Balance
Financials
Od fond Select Alien M D Am. 1 Great Adventures obtain a $10,000 low-terest loan for the company from the city council, which has recently passed initiative encouraging business developed related to door activities. The loan is 1 de in three years, and 6% interest is due each year on July 31. 22 Aug The company purchases 14 kayaks, paying $10,320 cash in total, 33. Aug. 10 Twenty kayakers pay $3,800 (5190 each) for the kayak clinic on the day of the clinic. Tony conducts the first layak clinic 1. Aug 12 Collected $2,000 on account from the July clinic S. Aug. 17 Tony conducts a second layak clinic, and the company receives 510.500 cash 6.6. Aug 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full. 51.900, 17. Sep. 1 To provide better storage of mountain bikes and layaks when not in the comparata storage shed for one year, paying $9.000 (5200 per month in advance 88 Sep 21 Tony conducts a rock-climbing clinic. The company bills the clients $13.200 for the provided clinic dae in 30 days. 9. Oct. 17 Paid the local radio station $1.200 for advertising Great Ashes for the remainder of October 10 10. Oct. 20 Collected 80% of the mot due from customers from the September 21 rock climbing clinic Deel Tony decides to hold the company's first adventure race on December 15. Four persones will race from checkpoint to checkpoint using a combination of mountain big, Kayaking refering, trail 11 11 and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each tem will be $500 12 12. Does To help organize and promote the race, Tony hires his college roommate Victor Victor will be paid $50 in salay for eaches that competes in the race. His salwy will be paid atter the race 13 13. Dec. The company pays $1.200 to purchase a permit from a state park where the race will be held. The most is recorded cous expeme Dec. 12 The company purchases racing supplies for $2.800 Code in 30 days Supplies include trophies for the top-finishings in each category, promotional shirts, mack foods and drinks for participants and field markers to prepare the racecourse 15 15. Dec. 15 The company receives $20.000 cash from a total of forty loans for the entire race, and there is held 16 16. Dec. 16 The company pays Victor's salary or nytes) 17 17. Dec 31 The company pays a dividend of $1,000 ($2,000 to Tony and $2,000 to Sucie) 18 18. Dec.31 Using his personal money, Tomy purchases a diamond ring for 54,500. Tony surprises Sure by proposing that they mad. Suzie opind they get married 19 NOTE: Use Good JournalForm to receive credit. Good form is debit() first, followed by credits, the cue bookline 20 Date Debel Credit Instructions Journal - Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials E NT SE FIG + 27 Dec 31 Close the revente accounts 2 28 Dec 31 Close the expense accounts 3 29. Dec 31 Close the dividend accounts 4 NOTE: Use Good Journal Form to receive credit. Good form is debit(s) first, followed by credits, then ose bank line. First one is done for you as an example. Dale Account Debit Credit R F NI 27 SI 28 Instructions Journal Daily Journal-Closing Journal Adjusting General Ledger Trial Balance Financials 1 19. Dec. 31. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was 55,600 2 20. Dec 31 b. Record my necessary adjustment for the one year insurance policy purchased on July 1 321 Dec 31 c. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1 4 22 Dec 31 d. Record y necessary adjustment for the deferred revenue from July, all of the reverse was camned at the August 10 clinic 5 23. Dec. 31. or the $1,900 of office supplies purchased in July (Chapter 2 Homework), 5300 remains 6 24. Dec. 31 Interest expertise on the $30,000 loan obtained from the city council on August I should be recorded 7 25 Dec 31 or the $2,800 of racing supplies purchased on December 12. 5200 remis 26 Dec 31 Suzie calculates that the company owes $14,000 in income taxes 9 NOTE: Use Good Journal Form to receive credit. Good form is debil) first, followed by credits, then one blank line. First one is done for you as an example Date Account Debit Credit R E NI 19 2 3 A 1 20 21 Instructions Journal Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials E6 H K A B C D E F G General Ledger Account 1 Cash Debit Balance Credit 2 3 4 5 No. BB Date Aug 1 Balance 30,590 Accounts Receivable Date Debit Credit Aug 1 No. BB 2,000 6 7 8 9 Supplies Office Date Debit Aug 1 No. BB Credit Balance 1,900 10 11 12 13 14 15 16 7 8 Supplies-Racing Date Debit No. Credit Balance 9 0 1 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Finand B8 A B 1 NOTE: Use formulas to pull the balances from the ledger, 2 NO numbers should be manually typed in this section. 3 4 Great Adventures, Inc. 5 Adjusted Trial Balance 6 December 31, 2021 7 Account DR CR - - - - 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 Instructions Journal-Daily 11,900 - Please C Journal-Closing Journal-Adjusting B D H Great Adventures, Inc. Income Statement For the year ended December 31, 2021 Great Adventures, Inc. Statement of Stockholders' Equity For the year ended December 31, 2021 Common Stock Retained Earnings Total Beginning Balnce Ending Balance Great Adventures, Inc. Classified Balance Sheet December 31, 2021 Liabilities: Current Liabilities: Assets: Current Assets Instructions Journal-Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials A F G H Aus 1 1 Great Adventures obtain 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. Th due in three years, and 6% interest is due each year on July 31 2. AR 4 The company purchases 14 kayaks, paying $40,320 cash in total, 3. Aug. 10 Twenty kayakers pay $3,800 (5190 each) for the kayak clinic on the day of the clinic. Touy conducts the first kayak clinic 4. Aug. 12 Collected $2,000 on account from the Jay clinic 5. Aug 17 Toay conduct a second layak clinic, and the company receives $10.500 cash 6. Aug 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full, 51,900 7. Sep 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 8. Sep 21 Tomy conducts a rock-climbing clinic. The company bills the clients $13.200 for the provided clinic due in 30 days 9. Oct. 17 Paid the local radio station $1,200 for advertising Great Adventures for the remainder of October 0 10. Oct. 2) Colected 80% of the amount de from customers from the September 21 rock-climbing clinic Dec. 1 Tomy decides to hold the company's first adventure race on December 15. Four person foam wilace from checkpoint to checkpoint using a combination of mountain biking, kayakit orientering 11 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 21 Dec To help organise 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. 13. Tee The compay pays $1.200 to purchase a permit from a state park where the race will be held. The mount is recorded as a miscellaneous expense. 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 14 and field markers to prepare the racecourse 5 15. Dec. 15 The company receives $20,000 cash from a total of forty teams for the adventure mot, and the race is held. 6 16. Dec. 16. The company pays Victor's salary note any taxes). > 17 Dec 31 The company pays a dividend of S1,000 (52,000 to Tony and $2,000 to Sucre). 3 18. Dec.31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Sure by proposing that they get married. Suzie accepts and they get married! 9 NOTE: Use Good Journal Form to receive credit. Good form is debit(s) first, followed by credits, then one blank line. 0# Date Account Debit Credit R E NI L 11 1.Ang Cash 30.000 Instructions Journal Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials Od fond Select Alien M D Am. 1 Great Adventures obtain a $10,000 low-terest loan for the company from the city council, which has recently passed initiative encouraging business developed related to door activities. The loan is 1 de in three years, and 6% interest is due each year on July 31. 22 Aug The company purchases 14 kayaks, paying $10,320 cash in total, 33. Aug. 10 Twenty kayakers pay $3,800 (5190 each) for the kayak clinic on the day of the clinic. Tony conducts the first layak clinic 1. Aug 12 Collected $2,000 on account from the July clinic S. Aug. 17 Tony conducts a second layak clinic, and the company receives 510.500 cash 6.6. Aug 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full. 51.900, 17. Sep. 1 To provide better storage of mountain bikes and layaks when not in the comparata storage shed for one year, paying $9.000 (5200 per month in advance 88 Sep 21 Tony conducts a rock-climbing clinic. The company bills the clients $13.200 for the provided clinic dae in 30 days. 9. Oct. 17 Paid the local radio station $1.200 for advertising Great Ashes for the remainder of October 10 10. Oct. 20 Collected 80% of the mot due from customers from the September 21 rock climbing clinic Deel Tony decides to hold the company's first adventure race on December 15. Four persones will race from checkpoint to checkpoint using a combination of mountain big, Kayaking refering, trail 11 11 and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each tem will be $500 12 12. Does To help organize and promote the race, Tony hires his college roommate Victor Victor will be paid $50 in salay for eaches that competes in the race. His salwy will be paid atter the race 13 13. Dec. The company pays $1.200 to purchase a permit from a state park where the race will be held. The most is recorded cous expeme Dec. 12 The company purchases racing supplies for $2.800 Code in 30 days Supplies include trophies for the top-finishings in each category, promotional shirts, mack foods and drinks for participants and field markers to prepare the racecourse 15 15. Dec. 15 The company receives $20.000 cash from a total of forty loans for the entire race, and there is held 16 16. Dec. 16 The company pays Victor's salary or nytes) 17 17. Dec 31 The company pays a dividend of $1,000 ($2,000 to Tony and $2,000 to Sucie) 18 18. Dec.31 Using his personal money, Tomy purchases a diamond ring for 54,500. Tony surprises Sure by proposing that they mad. Suzie opind they get married 19 NOTE: Use Good JournalForm to receive credit. Good form is debit() first, followed by credits, the cue bookline 20 Date Debel Credit Instructions Journal - Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials E NT SE FIG + 27 Dec 31 Close the revente accounts 2 28 Dec 31 Close the expense accounts 3 29. Dec 31 Close the dividend accounts 4 NOTE: Use Good Journal Form to receive credit. Good form is debit(s) first, followed by credits, then ose bank line. First one is done for you as an example. Dale Account Debit Credit R F NI 27 SI 28 Instructions Journal Daily Journal-Closing Journal Adjusting General Ledger Trial Balance Financials 1 19. Dec. 31. Depreciation of the mountain bikes purchased on July 8 was $1,190 and kayaks purchased on August 4 was 55,600 2 20. Dec 31 b. Record my necessary adjustment for the one year insurance policy purchased on July 1 321 Dec 31 c. Prepare any necessary adjustment for the one-year rental agreement purchased on September 1 4 22 Dec 31 d. Record y necessary adjustment for the deferred revenue from July, all of the reverse was camned at the August 10 clinic 5 23. Dec. 31. or the $1,900 of office supplies purchased in July (Chapter 2 Homework), 5300 remains 6 24. Dec. 31 Interest expertise on the $30,000 loan obtained from the city council on August I should be recorded 7 25 Dec 31 or the $2,800 of racing supplies purchased on December 12. 5200 remis 26 Dec 31 Suzie calculates that the company owes $14,000 in income taxes 9 NOTE: Use Good Journal Form to receive credit. Good form is debil) first, followed by credits, then one blank line. First one is done for you as an example Date Account Debit Credit R E NI 19 2 3 A 1 20 21 Instructions Journal Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Financials E6 H K A B C D E F G General Ledger Account 1 Cash Debit Balance Credit 2 3 4 5 No. BB Date Aug 1 Balance 30,590 Accounts Receivable Date Debit Credit Aug 1 No. BB 2,000 6 7 8 9 Supplies Office Date Debit Aug 1 No. BB Credit Balance 1,900 10 11 12 13 14 15 16 7 8 Supplies-Racing Date Debit No. Credit Balance 9 0 1 Instructions Journal-Daily Journal-Closing Journal-Adjusting General Ledger Trial Balance Finand B8 A B 1 NOTE: Use formulas to pull the balances from the ledger, 2 NO numbers should be manually typed in this section. 3 4 Great Adventures, Inc. 5 Adjusted Trial Balance 6 December 31, 2021 7 Account DR CR - - - - 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 Instructions Journal-Daily 11,900 - Please C Journal-Closing Journal-Adjusting B D H Great Adventures, Inc. Income Statement For the year ended December 31, 2021 Great Adventures, Inc. Statement of Stockholders' Equity For the year ended December 31, 2021 Common Stock Retained Earnings Total Beginning Balnce Ending Balance Great Adventures, Inc. Classified Balance Sheet December 31, 2021 Liabilities: Current Liabilities: Assets: Current Assets Instructions Journal-Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials A F G H Aus 1 1 Great Adventures obtain 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. Th due in three years, and 6% interest is due each year on July 31 2. AR 4 The company purchases 14 kayaks, paying $40,320 cash in total, 3. Aug. 10 Twenty kayakers pay $3,800 (5190 each) for the kayak clinic on the day of the clinic. Touy conducts the first kayak clinic 4. Aug. 12 Collected $2,000 on account from the Jay clinic 5. Aug 17 Toay conduct a second layak clinic, and the company receives $10.500 cash 6. Aug 24 Paid for the supplies purchased on account on July 4 (Chapter 2 Homework) in full, 51,900 7. Sep 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 8. Sep 21 Tomy conducts a rock-climbing clinic. The company bills the clients $13.200 for the provided clinic due in 30 days 9. Oct. 17 Paid the local radio station $1,200 for advertising Great Adventures for the remainder of October 0 10. Oct. 2) Colected 80% of the amount de from customers from the September 21 rock-climbing clinic Dec. 1 Tomy decides to hold the company's first adventure race on December 15. Four person foam wilace from checkpoint to checkpoint using a combination of mountain biking, kayakit orientering 11 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 21 Dec To help organise 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. 13. Tee The compay pays $1.200 to purchase a permit from a state park where the race will be held. The mount is recorded as a miscellaneous expense. 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 14 and field markers to prepare the racecourse 5 15. Dec. 15 The company receives $20,000 cash from a total of forty teams for the adventure mot, and the race is held. 6 16. Dec. 16. The company pays Victor's salary note any taxes). > 17 Dec 31 The company pays a dividend of S1,000 (52,000 to Tony and $2,000 to Sucre). 3 18. Dec.31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Sure by proposing that they get married. Suzie accepts and they get married! 9 NOTE: Use Good Journal Form to receive credit. Good form is debit(s) first, followed by credits, then one blank line. 0# Date Account Debit Credit R E NI L 11 1.Ang Cash 30.000 Instructions Journal Daily Journal Closing Journal Adjusting General Ledger Trial Balance Financials
