GL2-16 Complete the full accounting cycle Tony and Suzie graduate from college in May 2018 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for SI cach. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 NISEReofomm nkSui Is MIPh i pcy 55 4 per d ng M T h abo of S w d e nd wb e dy y N 2 iedgd p MG Adm vo 0 the gThe mp 4 ping S Tty p g1 Tey nd SpTed b gof n de S 21 es mb The O 17 Ty ot Pr a wm do g ly The D dvi y's D The fo pl e Thep p p De 12 1 Theppos s D in b p Ty p Suric a dy a The following information relates to year-cnd adjusting entries as of December 31, 2018 a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. b. Six months' worth of insurance has expired. c. Four months' worth of rent has expired. d. Of the S1,600 of office supplies purchased on July 4, S230 remains. e. Interest expense on the S39,000 loan obtained from the city council on August 1 should be recorded. f Of the $2,900 of racing supplies purchased on December sok to San Se S19000 IPuchae a oe-year inre polcy f54e on ding nd p dinic P l of30ainod with n ti 2 4 Pcha ce plso $100ao d to be d J7 Pay advenising of S290e a cal wer ly 15 ing Pase 0 ins ping S4 15 On de dy of the chni Get Advtres s ch S48 m md he mn inn e22 Becse of te of the fint m ompany recives 5. ng in T er bng i dthe a ekede eing ed A J3Gr Adnts noi ch ofs00i hom4y heuping kk inic Maal Av Gret Adv m539.000 fthe my y o whh h y b vow and A 4 The opny pnch 4kyds pying Se Twoy additional kk pay $3000 cd the day of the dinic. Toe condcts the f ky ci w pd a A 1e to e S48 ly Au 1 SpTeide bener aoage omin hsand wh ingac plicy fr $4 pr Sp 21 odts a ck cingn The py es S4 1 dt ng Partii e t w pdo h iy dThe De p p ng kmn nd bing s The fiest tem in eh cpy to mple ll che w The ry feer eh w D To ie d pe he e Ty bies ge V Vrwiepid 50y eh dt compries in e e He slary wi be pid e de Pe The p kw he The opany pchss cing ppl or $2900 Dec 12 bing in eh ypromon e ene The opany recives 524000 cah foma of y din 30ds Sli incde top r the p ed k k ood d Dec 15 i D 31 The cpay pays a dvidnd of S4052 and 52 D 1 Usng pel y Tny pc ddg $5 d Sarie s nd y gt i S ng ty y Su by The following information relates to year-end adjusting entries as of December 31, 2018 a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. b. Six months' worth of insurance has expired. c. Four months' worth of rent has expired. d. Of the $1,600 of office supplies purchased remains on July 4, $230 e. Interest expense on the $39,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,900 of racing supplies purchased on December 12, S120 remains. g. Suzie calculates that the company owes $13,600 in income taxes Raond cach of the tranactions ltod abe in the Goneal um h al Ladger and the Trial Balnce tab to the ffect of the -27 hc Reviow the t Rvi the a T wf Db a 3 4 Ppe n i the period nded Dembe 31,30ide S Ppaea ed be she of Dember 31,20 BS Rnd e clesing mries in he enerl e a 35- 333 6:21 GL2.docx Done GL2-16 Complete the full accounting cycle Tony and Suzie graduate from college in May 2018 and begin developing their new business. They begin by offering elinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'l hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 I Sell S19,000oom ock Surie. Jl. I Sell S19,000 of common ck so Tony I c er ince pely 55, e p tme st picipts dring r ed wih incoptin 2 Pay legal fees of S1,300 . P for adveisin of 290 Ades will be hargod S the day of the ing dncwe e h 15 ld nrone 8 Parche 10 m s pmng S1400ca J15 On the day of the chaic, Ge Advees ss cah of $4800 Sms Ty condats te mo bng cin Jul22 Bse of the sccess of the Srd moutas big clic Toey d ing dinic and ther company sev 55400 Sae dd a kng cl wwdAe A n p J10 Gecat Adve Jul 2 rocives cah of $4,000 in advance frm 40 ayaon Sr the upmig kk clinic Gat Adntuncs obains a $39,000 lw-itct lo Sor the compuny Sh the cy ccil which has nocemdly ed an initiative encouging bsiness devlopme ld e ond a The ade in t years de a yer Aug 4 Aug 10 Aug Twnty additinal kaakm pry 53.00 (150 ch in addion to the $40 the day of the cli Tny condects a somd kayak linic, and the company os S10 w pd in advance on Jly 30 Toey conducs the kayak cnic Aug 17 Aug office sples of S1600 hased July 4puid 24 Sp Tepeeid ber p fo bkand kays whn the py oge he pachasing a ce-yer l peliy o $4sS perm Tny condects a nock-clinhing clinic. The company moucives $14,400c Ty conets an orietering clnic Panicips ptice hew to ndendap p rdim a compass and orice through heaily wooded anc The oompuny $I Sep 2 O17 Dec dibing l The fint team in cach cagy to complin all cackp rwi The y S fr ach To hlp oeganie and pemoe the race, Tony hins his college romm Vice Vicr will b id 550 in lary fo ah tt compes in e rce. His salary will be paid aer dhe The company pays S1,300 purchase a pemi hom a st park who the r will be h The amount is roodod asamisellansep Dc Doc cg pele for 5200n aved in s pplic ncl r the ve Dec 12 pae the 6:21 GL2.docx Done On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for S1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 1 Sell $19,000 of commoe sock o Surie Sell $19,000 of common stock to Tony Jul hase a onc-year insrance policy for $5,00 450 per moth) to ar injris to pticipunts daring oundoor stnics 2 Pay lepal fees of S1,00 acid with incorporaticn 4 Pachane office pplies of $1s00ac 7 Pay Sor advartising of S290 to a local sewspaper for an uponesing min biking dinic to be held on July 15. dees will be chrped S60 cn dhe day of he clni 8Paschase 10 mountin bikes, paying S14,600 ca 15 On the day of the clinic, Gret Avetes receives cah of S4800 S 0 M Ty omdacts the mountaine bking cl A22 Becae of he ccss of te fiet mousta aing cai. Toey hls erm n bking claic and te conpany receves 55,400 Jul 24 Pay for advertising of $710 to a local radio station for a kayaking cliic to be held on Augut 10. Ancndees can pay si00 in adnce or S150 on the dry of the dlinic Jul 30 Cecat Adventures neceives cash of s4,000 in advance from 40 kayakens Sor the upoming kyak cinic Great Advesturncs obtains a $39,0e low-intenet loan for the compuny fom the cty onencil, which has rocently sen nelnod to eundr a Aag 1 nd % al irest is due cach year on July 3 Aug 4The company pachases 14 kays, paying S14,000 ca Ag 10 Twenty addinal kayakers pay $3.00 (5150 ac in ad t 5000w pid dvne ly 30 os the day of the cinc Tony condacts the firdt kayak clinic Au. 17, Teey oondacts a socond kvak cleic, and de company oe S11.000 Aug 24 Ofice sapplics of $1,600 pachased on July 4 a paid in full Sep 1 Te povide better storage of mountain bkes and kayaks who t in decmpny nsa oage shod parching a cneyr l policsy Se 54,080 (5340 per moh Sep 21 Toey condacts a ock-climbing clinic. The company noceives $34,400 ca Oct. 17 Teey condacts an oricntocring clinic. Participants practice how to undnd apogahical nap read an altiste ase a compass, and orient through heavily wooded arcs The company oucvs SI00 Dec. 1Teey decides to hold the company's it advente ce on December 15. Fou paon ms will ce thom checkpei o heckpois ing acomitice of o haing, kaing on gw ng, and sck dinbing kill The int am in cach category to complete all check r wi The ry Soe Sor cach cam is S600 Dec. Te help organine und peomtc the race, Toey hires his college roomm Vict Vicr wil te puid $50 in salary for in the ce. His salary will be paid aer the r Dec. The company pays S1,300 to purchase a permi fom a se pak whee the ce will be held The at is recmded a miscllasous espense Dec. 12 The company parchases racing sapplies Sor $2.900 on accous due in 30 ys Spplies inclade ophis for the op finishing tams in cach catcgory pomotional shin, nack foods and drinka Sr putcp nd ficld markans to ppare the raceese Dec. 15 The company receives $24,000 cah from a total of forty tcms and the ace is held Dec. 16 The company pays Victor's salary of $2,00 Dec. 31 The company pays a dividend of S4.200 52100Toey and 52,100to Suic Dec. 31 Uing his peronal moncy, Tony purchases a diumond ring for $5,00 Tey pies Surie by proposing that they get maried Sarie socepts and tey pet mamried The following information relates to year-end adjusting entries as of December 31, 2018 Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720 b. Six months' worth of insurance has expired a. 6:21 GL2.docx Done J0 Cee Advres receves cah of S4000 in avane m kyken ep k c Grat Adveres obtains a $39.000 lwin for the oompuny n the city oncilwhich h cmtly Aug nd %aintest is dac cach year on July 31 A 4The y prses l4ays pying S4,000 wpd en July 3 Aug 1 A 17 Teey condts a second kayak cak, and the opny eeives S11,000 Aug 24 Oice pplics of S1600 purchused on July 4 an paid in fll SepTeprovide betier soage of mountain bikes and kayaks when not in e oym pachasing a on-yar sntal policy for $00 (5340 pr a Sep 21 Toey condacts a nock-climbing clinic. The compuny oc S34,400c O. 17 Toe omdects an orinring dinic Participunts prdice how to ndmtnda cl me read aimetr ase a compas, and ric thugh havily woodod anca The company $ Dec Toey decides to hold the compuany's finst adveture race on December 15. Foupen twill mce thm hkoi tohkpoi sing aohinati of ma g ing d wRR i t ch catcpory te eplete all checkp m Dec 5 Te help oganine and promote the race, Toey hines his cellege noommu Vict Victor will be paid 550 in salary Son eah wam dt comptes in the se His salary will be id aer the e Doc. 8 The company pays $1,300 se panchas a pemit troma pak who te ace will be ld The amout is nocondod asa misellans espese Dec. 12 The company parchases racing ples for $2900 acde nds Spplies incldeies or the p finishing teams in cah catepory promtionl sits ack ooh nd drik pc nd iekd mrks to pepas he racocounse Dec 15 The company roceives $24000 cah otod of ty t d deei held The cenpany ps z0S gshel Dec 31 e purh a damnd ring or 3s0 pet maied Sarie aceeps and they pet maie they The following information relates to year-end adjusting entries as of December 31, 2018 Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. a. b. Six months' worth of insurance has expired c. Four months' worth of rent has expired d. Of the $1,600 of office supplies purchased on July 4, $230 remains e. Interest expense on the $39,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,900 of racing supplies purchased on December 12, $120 remains g. Suzie calculates that the company owes $13,600 in income taxes Recend each of the sctices ted abve in the Gemeal Jm ub ohee w 1. -27 Review he 2. Recond the adting etries in the General Juna b-these are hown 28-34 Review the aoted Tril Bale s of Dmber 31,20 4 Ppase an income n or the period ended Doober 31, 20cs, in dhe e S s hopane a classifiod halance shot an of December 31, 2008 in the mce Shef Recond the closing eries in the Geseral Jorl b hese me shown as i 53 6 GL2-16 Complete the full accounting cycle Tony and Suzie graduate from college in May 2018 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for SI cach. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 NISEReofomm nkSui Is MIPh i pcy 55 4 per d ng M T h abo of S w d e nd wb e dy y N 2 iedgd p MG Adm vo 0 the gThe mp 4 ping S Tty p g1 Tey nd SpTed b gof n de S 21 es mb The O 17 Ty ot Pr a wm do g ly The D dvi y's D The fo pl e Thep p p De 12 1 Theppos s D in b p Ty p Suric a dy a The following information relates to year-cnd adjusting entries as of December 31, 2018 a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. b. Six months' worth of insurance has expired. c. Four months' worth of rent has expired. d. Of the S1,600 of office supplies purchased on July 4, S230 remains. e. Interest expense on the S39,000 loan obtained from the city council on August 1 should be recorded. f Of the $2,900 of racing supplies purchased on December sok to San Se S19000 IPuchae a oe-year inre polcy f54e on ding nd p dinic P l of30ainod with n ti 2 4 Pcha ce plso $100ao d to be d J7 Pay advenising of S290e a cal wer ly 15 ing Pase 0 ins ping S4 15 On de dy of the chni Get Advtres s ch S48 m md he mn inn e22 Becse of te of the fint m ompany recives 5. ng in T er bng i dthe a ekede eing ed A J3Gr Adnts noi ch ofs00i hom4y heuping kk inic Maal Av Gret Adv m539.000 fthe my y o whh h y b vow and A 4 The opny pnch 4kyds pying Se Twoy additional kk pay $3000 cd the day of the dinic. Toe condcts the f ky ci w pd a A 1e to e S48 ly Au 1 SpTeide bener aoage omin hsand wh ingac plicy fr $4 pr Sp 21 odts a ck cingn The py es S4 1 dt ng Partii e t w pdo h iy dThe De p p ng kmn nd bing s The fiest tem in eh cpy to mple ll che w The ry feer eh w D To ie d pe he e Ty bies ge V Vrwiepid 50y eh dt compries in e e He slary wi be pid e de Pe The p kw he The opany pchss cing ppl or $2900 Dec 12 bing in eh ypromon e ene The opany recives 524000 cah foma of y din 30ds Sli incde top r the p ed k k ood d Dec 15 i D 31 The cpay pays a dvidnd of S4052 and 52 D 1 Usng pel y Tny pc ddg $5 d Sarie s nd y gt i S ng ty y Su by The following information relates to year-end adjusting entries as of December 31, 2018 a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. b. Six months' worth of insurance has expired. c. Four months' worth of rent has expired. d. Of the $1,600 of office supplies purchased remains on July 4, $230 e. Interest expense on the $39,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,900 of racing supplies purchased on December 12, S120 remains. g. Suzie calculates that the company owes $13,600 in income taxes Raond cach of the tranactions ltod abe in the Goneal um h al Ladger and the Trial Balnce tab to the ffect of the -27 hc Reviow the t Rvi the a T wf Db a 3 4 Ppe n i the period nded Dembe 31,30ide S Ppaea ed be she of Dember 31,20 BS Rnd e clesing mries in he enerl e a 35- 333 6:21 GL2.docx Done GL2-16 Complete the full accounting cycle Tony and Suzie graduate from college in May 2018 and begin developing their new business. They begin by offering elinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'l hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 I Sell S19,000oom ock Surie. Jl. I Sell S19,000 of common ck so Tony I c er ince pely 55, e p tme st picipts dring r ed wih incoptin 2 Pay legal fees of S1,300 . P for adveisin of 290 Ades will be hargod S the day of the ing dncwe e h 15 ld nrone 8 Parche 10 m s pmng S1400ca J15 On the day of the chaic, Ge Advees ss cah of $4800 Sms Ty condats te mo bng cin Jul22 Bse of the sccess of the Srd moutas big clic Toey d ing dinic and ther company sev 55400 Sae dd a kng cl wwdAe A n p J10 Gecat Adve Jul 2 rocives cah of $4,000 in advance frm 40 ayaon Sr the upmig kk clinic Gat Adntuncs obains a $39,000 lw-itct lo Sor the compuny Sh the cy ccil which has nocemdly ed an initiative encouging bsiness devlopme ld e ond a The ade in t years de a yer Aug 4 Aug 10 Aug Twnty additinal kaakm pry 53.00 (150 ch in addion to the $40 the day of the cli Tny condects a somd kayak linic, and the company os S10 w pd in advance on Jly 30 Toey conducs the kayak cnic Aug 17 Aug office sples of S1600 hased July 4puid 24 Sp Tepeeid ber p fo bkand kays whn the py oge he pachasing a ce-yer l peliy o $4sS perm Tny condects a nock-clinhing clinic. The company moucives $14,400c Ty conets an orietering clnic Panicips ptice hew to ndendap p rdim a compass and orice through heaily wooded anc The oompuny $I Sep 2 O17 Dec dibing l The fint team in cach cagy to complin all cackp rwi The y S fr ach To hlp oeganie and pemoe the race, Tony hins his college romm Vice Vicr will b id 550 in lary fo ah tt compes in e rce. His salary will be paid aer dhe The company pays S1,300 purchase a pemi hom a st park who the r will be h The amount is roodod asamisellansep Dc Doc cg pele for 5200n aved in s pplic ncl r the ve Dec 12 pae the 6:21 GL2.docx Done On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 shares of common stock for S1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 1 Sell $19,000 of commoe sock o Surie Sell $19,000 of common stock to Tony Jul hase a onc-year insrance policy for $5,00 450 per moth) to ar injris to pticipunts daring oundoor stnics 2 Pay lepal fees of S1,00 acid with incorporaticn 4 Pachane office pplies of $1s00ac 7 Pay Sor advartising of S290 to a local sewspaper for an uponesing min biking dinic to be held on July 15. dees will be chrped S60 cn dhe day of he clni 8Paschase 10 mountin bikes, paying S14,600 ca 15 On the day of the clinic, Gret Avetes receives cah of S4800 S 0 M Ty omdacts the mountaine bking cl A22 Becae of he ccss of te fiet mousta aing cai. Toey hls erm n bking claic and te conpany receves 55,400 Jul 24 Pay for advertising of $710 to a local radio station for a kayaking cliic to be held on Augut 10. Ancndees can pay si00 in adnce or S150 on the dry of the dlinic Jul 30 Cecat Adventures neceives cash of s4,000 in advance from 40 kayakens Sor the upoming kyak cinic Great Advesturncs obtains a $39,0e low-intenet loan for the compuny fom the cty onencil, which has rocently sen nelnod to eundr a Aag 1 nd % al irest is due cach year on July 3 Aug 4The company pachases 14 kays, paying S14,000 ca Ag 10 Twenty addinal kayakers pay $3.00 (5150 ac in ad t 5000w pid dvne ly 30 os the day of the cinc Tony condacts the firdt kayak clinic Au. 17, Teey oondacts a socond kvak cleic, and de company oe S11.000 Aug 24 Ofice sapplics of $1,600 pachased on July 4 a paid in full Sep 1 Te povide better storage of mountain bkes and kayaks who t in decmpny nsa oage shod parching a cneyr l policsy Se 54,080 (5340 per moh Sep 21 Toey condacts a ock-climbing clinic. The company noceives $34,400 ca Oct. 17 Teey condacts an oricntocring clinic. Participants practice how to undnd apogahical nap read an altiste ase a compass, and orient through heavily wooded arcs The company oucvs SI00 Dec. 1Teey decides to hold the company's it advente ce on December 15. Fou paon ms will ce thom checkpei o heckpois ing acomitice of o haing, kaing on gw ng, and sck dinbing kill The int am in cach category to complete all check r wi The ry Soe Sor cach cam is S600 Dec. Te help organine und peomtc the race, Toey hires his college roomm Vict Vicr wil te puid $50 in salary for in the ce. His salary will be paid aer the r Dec. The company pays S1,300 to purchase a permi fom a se pak whee the ce will be held The at is recmded a miscllasous espense Dec. 12 The company parchases racing sapplies Sor $2.900 on accous due in 30 ys Spplies inclade ophis for the op finishing tams in cach catcgory pomotional shin, nack foods and drinka Sr putcp nd ficld markans to ppare the raceese Dec. 15 The company receives $24,000 cah from a total of forty tcms and the ace is held Dec. 16 The company pays Victor's salary of $2,00 Dec. 31 The company pays a dividend of S4.200 52100Toey and 52,100to Suic Dec. 31 Uing his peronal moncy, Tony purchases a diumond ring for $5,00 Tey pies Surie by proposing that they get maried Sarie socepts and tey pet mamried The following information relates to year-end adjusting entries as of December 31, 2018 Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720 b. Six months' worth of insurance has expired a. 6:21 GL2.docx Done J0 Cee Advres receves cah of S4000 in avane m kyken ep k c Grat Adveres obtains a $39.000 lwin for the oompuny n the city oncilwhich h cmtly Aug nd %aintest is dac cach year on July 31 A 4The y prses l4ays pying S4,000 wpd en July 3 Aug 1 A 17 Teey condts a second kayak cak, and the opny eeives S11,000 Aug 24 Oice pplics of S1600 purchused on July 4 an paid in fll SepTeprovide betier soage of mountain bikes and kayaks when not in e oym pachasing a on-yar sntal policy for $00 (5340 pr a Sep 21 Toey condacts a nock-climbing clinic. The compuny oc S34,400c O. 17 Toe omdects an orinring dinic Participunts prdice how to ndmtnda cl me read aimetr ase a compas, and ric thugh havily woodod anca The company $ Dec Toey decides to hold the compuany's finst adveture race on December 15. Foupen twill mce thm hkoi tohkpoi sing aohinati of ma g ing d wRR i t ch catcpory te eplete all checkp m Dec 5 Te help oganine and promote the race, Toey hines his cellege noommu Vict Victor will be paid 550 in salary Son eah wam dt comptes in the se His salary will be id aer the e Doc. 8 The company pays $1,300 se panchas a pemit troma pak who te ace will be ld The amout is nocondod asa misellans espese Dec. 12 The company parchases racing ples for $2900 acde nds Spplies incldeies or the p finishing teams in cah catepory promtionl sits ack ooh nd drik pc nd iekd mrks to pepas he racocounse Dec 15 The company roceives $24000 cah otod of ty t d deei held The cenpany ps z0S gshel Dec 31 e purh a damnd ring or 3s0 pet maied Sarie aceeps and they pet maie they The following information relates to year-end adjusting entries as of December 31, 2018 Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $5,720. a. b. Six months' worth of insurance has expired c. Four months' worth of rent has expired d. Of the $1,600 of office supplies purchased on July 4, $230 remains e. Interest expense on the $39,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,900 of racing supplies purchased on December 12, $120 remains g. Suzie calculates that the company owes $13,600 in income taxes Recend each of the sctices ted abve in the Gemeal Jm ub ohee w 1. -27 Review he 2. Recond the adting etries in the General Juna b-these are hown 28-34 Review the aoted Tril Bale s of Dmber 31,20 4 Ppase an income n or the period ended Doober 31, 20cs, in dhe e S s hopane a classifiod halance shot an of December 31, 2008 in the mce Shef Recond the closing eries in the Geseral Jorl b hese me shown as i 53 6