General journal, general ledger, trial balance, income statement, balance sheet
1 Great Adventures Problem AP6-1 (GL) ins The following information applies to the questions displayed below) Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. Al watches are sold for $780 each Jul. 17 Purchased 92 watches for $13,800 ($150 per watch) on account. Jul. 31 Sold 88 watches for $68, 640 cash Aug. 12 Purchased 68 watches for $10.880 (5160 per watch) cash. Aug. 22 Sold 58 watches for $45, 240 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $27.144 for watches sold on account on August 22. Oct. 27 Purchased 150 watches for $25,500 (5170 per watch) cash Nov. 20 Sold 118 watches for $92,040 cash. Dec 4 Purchased 120 atches for $23,040 ($100 per watch) on account. Dec B Sold 68 watches for $53, 040 on account. Late in December the next generation of multiuse (MUI) watches is released. In addition to all of the features of the MU watch, the Jul. 31 Sold 98 watches for $68, 640 cash. Aug. 12 Purchased 68 watches for $10,880 ($160 per watch) cash, Aug. 22 Sold 58 watches for $45, 240 on account. Sep 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of 527, 144 for watches sold on account on August 22. Oct, 27 Purchased 150 watches for $25,500 ($170 per watch) cash. Nov. 20 Sold 118 watches for $92,040 cash. Dec. 4 Purchased 128 watches for $23,040 ($180 per watch) on account. Dec. Sold 68 watches for $53, 040 on account. Late in December the next generation of multiuse (MUI) watches is released. In addition to all of the features of the Mu watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch Answer is not complete. Requirement General Journal General Ledger Trtal Balance Income Statement Balance Sheet Prepare the journal ontries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.)
