GREAT ADVENTURES, Inc. Adjusted Trial Balance December 31, 2019

Accounts Debit Credit

Cash 64,200

Accounts Receivable 2,000

Inventory 5,000

Prepaid insurance 2,400

Prepaid rent 1,600

Supplies (Office) 300

Supplies (Racing) 200

Equipment (Bikes) 12,000

Equipment (Kayaks) 21,000

Accumulated depreciation 8,000

Accounts payable 2,800

Income tax payable 14,000

Interest payable 750

Notes payable 30,000

Common stock ($1.00 par - 1,000,000 shares authorized, 10,000 shares issued and outstanding) 10,000

Paid-in Capital in Excess of Par-Common 10,000

Dividends 4,000

Merchandise Sales Revenue 27,500

Sales returns and allowances 2,500

Service revenue (Clinic) 50,400

Service revenue (Racing) 17,500

Advertising expense 1,000

Cost of Goods Sold 15,000

Depreciation expense 8,000

Income tax expense 14,000

Insurance expense 2,400

Interest expense 750

Legal fees expense 1,500

Miscellaneous expense 1,200

Rent expense 800

Salaries expense 2,000

Selling expense 5,000

Supplies expense (Office) 1,500

Supplies expense (Racing) 2,600

Totals 170,950 170,950

GREAT ADVENTURES, Inc.
Balance Sheet
December 31, 2019
Current Assets:
Cash	64,200
Accounts Receivable	2,000
Inventory	5,000
Supplies (Office)	300
Supplies (Racing)	200
Prepaid Insurance	2,400
Prepaid Rent	1,600
Total Current Assets		75,700
Long Term Assets:
Equipment (Bikes)	12,000
Equipment (Kayaks)	21,000
Less: Accumulated Depreciation	-8,000	25,000
Total Assets		100,700
Current Liabilities:
Accounts Payable	2,800
Interest Payable	750
Income Tax Payable	14,000
Current maturity of notes payable	10,000
Total Current Liabilities		27,550
Long Term Liabilities:
Notes Payable		20,000
Total Liabilities		47,550
Stockholder's Equity:
Common Stock	10,000
Paid in Capital in excess of par	10,000
Retained Payment	33,150
Total Stock holder's Equity		53,150
Total Liabilities and Stockholder's Equity		100,700

Prepare a Statement of Cash Flows