Great Adventures Problem 10-1 [The following information applies to the questions displayed below Tony and Suzie purchased land costing $500,000 for a new camp in January 2020. 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 another million dollars, 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 two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. When the company began on July 1, 2018, Tony and Suzie each purchased 10,000 shares of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during 2020, its third year of operations: July 2 Issue an additional 120,000 shares of common stock for $13 per share September 10 Repurchase 12,000 shares of its own common stock (i.e., treasury stock) for $16 per share November 15 Reissue 6,000 shares of treasury stock at $17 per share December 1 Declare a cash dividend on its common stock of $134,000 ($1 per share) to all stockholders of record on December 15 December 31 Pay the cash dividend declared on December 1 value: Required information 0.00 points Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 6 Issue an additional 120,000 shares of common stock for $13 per share. Note: Enter debits before credits. Date Debit Credit General Journal July 02, 2020 View general journal Record entry Clear entry 1. value: Required informati 0.00 points Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Repurchase 12,000 shares of its own common stock (i.e., treasury stock) for $16 per share. Note: Enter debits before credits Debit Credit Date General Journal September 10, 2020 Record entry Clear entry View general journal Required information 10.00 points Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Reissue 6,000 shares of treasury stock at $17 per share. Note: Enter debits before credits. Debit Date General Journal Credit November 15, 2020 Record entry Clear entry View general journal value: 0.00 points Required information Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 Declare a cash dividend on its common stock of $134,000 ($1 per share) to all stockholders of record on December 15 Note: Enter debits before credits. Credit Date Debit General Journal December 01, 2020 Record entry Clear entry View general journal 1. value: 0.00 points Required information Great Adventures Problem 10-1 Part 1 Required 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 6 Record the entry on the date of record. Note: Enter debits before credits. Credit General Journal Debit Date December 15, 2020 Record entry View general journal Clear entry value: 0.00 points Required information Great Adventures Problem 10-1 Part 1 Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 5 6 Pay the cash dividend declared on Dec. 1 Note: Enter debits before credits. Debit Credit General Journal Date December 31, 2020 View general journal Record entry Clear entry