Great Adventures Problem AP5-1 [The following information applies to the questions displayed below.] Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More) Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 6% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations Jan. 24 Great Adventures purchases outdoor tear such as ropes, helaet harnesses, compasses, and other miscellaneous equipment for $4.600 cash. Feb. 25 Mr. Kendall Boy Scout troop participates an one-day TEAR adventure. Hornally, Tony vould charge a group of this site $3.100. but he wants to encourage kids to exercise more and enjoy the outdoors to be charges the group only $2.500. Great Adventures provides these services on account. Feb. 28 The Boy Scout troup pays the tall mount owed, less the quick-payment discount. Mar. 19 Reynold' Management has its employees participate in a one-day TEA adventure. Great Adventures provides Services account for $3,600. ad Reynolds to pay within 30 days. 27 Raynold' pays the full mount ved less the 6s quick-payment discount Apt. 7 Several nen from the Elks Lodge decide to participate in TEA adventure. They pay $7.100, and the event 13 scheduled for the following week Apr. 14 The TEAM sdventure is held for bets of the Elk Lodge Apt. 30 Tyers Manufacturint participates in TEA adventure Great Adventure prova det ervices on account for $5.000 ad Myers are to pay than 30 days. May 31 Myers Manufacturing fals to pay the wount ved vathan the specified period and Brent to tan a three month. 9% not receivable to replace the existing account receivable Jun 16 Several coups participate in TEA adventures. Great Aventures provides service on account for $22.000 to these roups with parent in July Great Adventures Problem AP5.1 Part 1 Required: 1. Record TEAM adventure transactions occurring during the first six months of 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Required information 1 Jan 24, 2022 Equipment Cash 4,600 4,600 2 Feb 25, 2022 Accounts Receivable Service Revenue 2,600 2,600 3 Feb 28, 2022 Cash Sales Discounts Accounts Receivable 2.444 156 2,600 4 Mar 19, 2022 Accounts Receivable Service Revenue 3,600 3,600 5 Mar 27 2022 Cash Sales Discounts Accounts Receivable 3,384 216 BO 3.600 6 Apr 7.2022 Cash Service Revenue 7 100 X 7.100 7 Apr 14, 2022 Cash Service Revenue > S 7.100 7 100 3 Apr 30, 2022 Accounts Receivable Service Revenue 5.600 5.600 9 May 31, 2022 Notes Receivable Accounts Receivable 5 600 5.500 10 Jun 15 2022 Accounts Receivable Sari R 22.000 30 900 B. Accrue une month of interest on the note recevable from Myers Manufacturing of no entry is required for a particular transaction event, select "No Journal Entry Required in the first account field) Very work + 30.2022 Race SHOP Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to complete the company's income statement. Select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance Post closing GREAT ADVENTURES, INC Income Statement For the Period Ended June 30, 2022 Revue Service Revenue Salen Discounts 0 0 0 0 5 O Total Revenue Expeme Depreciation Expo Supplies Spense Sales Expense Bad Debt Expense Interest Expense Rant Expense Insurance Expense 0 OOOOOO 0 0 0 Total Expenne Net Income 0 Answer is not complete. tament General Jual General Ledger Triat Balance Income Statement Balance Sheet Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Post closing GREAT ADVENTURES, INC Dale Sheet June 30, 2012 Asus Elabilities CA Cartables Cath 5414 Account Payable 5200 Acouscate 2000 Payable 2.500 www.barcolet Account 11025 Web 360 Titel 100 54000 Paville 64.000 Pod 2100 DAD 1300 12700 Lang Em co 21000 150.000 SE Cock e The 114299 0 222.299 296 1 Deferred Revenue 6,800 7 Apr 14 > Deferred Revenue Service Revenue 6,800 6,800 8 Apr 30 Accounts Receivable Service Revenue >> 54,000 54,000 9 May 31 Notes Receivable Accounts Receivable 54,000 54,000 10 Jun 15 > Accounts Receivable Service Revenue 20,500 20,500 11 Jun 30 Bad Debt Expense Allowance for Uncollectible Accounts 1,025 Ng 1,025 O 12 Jun 30 Interest Receivable Interest Revenue 360 360 13 Jun 30 Service Revenue Interest Revenue Sales Discounts Retained Eaming 86.900 360 336 86,924 14 Jun 30 55,265 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense 11,400 2 200 29.000 1025 1.240 4,600 5,800 SOS Great Adventures Problem AP5-1 [The following information applies to the questions displayed below.] Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More) Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 6% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations Jan. 24 Great Adventures purchases outdoor tear such as ropes, helaet harnesses, compasses, and other miscellaneous equipment for $4.600 cash. Feb. 25 Mr. Kendall Boy Scout troop participates an one-day TEAR adventure. Hornally, Tony vould charge a group of this site $3.100. but he wants to encourage kids to exercise more and enjoy the outdoors to be charges the group only $2.500. Great Adventures provides these services on account. Feb. 28 The Boy Scout troup pays the tall mount owed, less the quick-payment discount. Mar. 19 Reynold' Management has its employees participate in a one-day TEA adventure. Great Adventures provides Services account for $3,600. ad Reynolds to pay within 30 days. 27 Raynold' pays the full mount ved less the 6s quick-payment discount Apt. 7 Several nen from the Elks Lodge decide to participate in TEA adventure. They pay $7.100, and the event 13 scheduled for the following week Apr. 14 The TEAM sdventure is held for bets of the Elk Lodge Apt. 30 Tyers Manufacturint participates in TEA adventure Great Adventure prova det ervices on account for $5.000 ad Myers are to pay than 30 days. May 31 Myers Manufacturing fals to pay the wount ved vathan the specified period and Brent to tan a three month. 9% not receivable to replace the existing account receivable Jun 16 Several coups participate in TEA adventures. Great Aventures provides service on account for $22.000 to these roups with parent in July Great Adventures Problem AP5.1 Part 1 Required: 1. Record TEAM adventure transactions occurring during the first six months of 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Required information 1 Jan 24, 2022 Equipment Cash 4,600 4,600 2 Feb 25, 2022 Accounts Receivable Service Revenue 2,600 2,600 3 Feb 28, 2022 Cash Sales Discounts Accounts Receivable 2.444 156 2,600 4 Mar 19, 2022 Accounts Receivable Service Revenue 3,600 3,600 5 Mar 27 2022 Cash Sales Discounts Accounts Receivable 3,384 216 BO 3.600 6 Apr 7.2022 Cash Service Revenue 7 100 X 7.100 7 Apr 14, 2022 Cash Service Revenue > S 7.100 7 100 3 Apr 30, 2022 Accounts Receivable Service Revenue 5.600 5.600 9 May 31, 2022 Notes Receivable Accounts Receivable 5 600 5.500 10 Jun 15 2022 Accounts Receivable Sari R 22.000 30 900 B. Accrue une month of interest on the note recevable from Myers Manufacturing of no entry is required for a particular transaction event, select "No Journal Entry Required in the first account field) Very work + 30.2022 Race SHOP Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to complete the company's income statement. Select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance Post closing GREAT ADVENTURES, INC Income Statement For the Period Ended June 30, 2022 Revue Service Revenue Salen Discounts 0 0 0 0 5 O Total Revenue Expeme Depreciation Expo Supplies Spense Sales Expense Bad Debt Expense Interest Expense Rant Expense Insurance Expense 0 OOOOOO 0 0 0 Total Expenne Net Income 0 Answer is not complete. tament General Jual General Ledger Triat Balance Income Statement Balance Sheet Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Post closing GREAT ADVENTURES, INC Dale Sheet June 30, 2012 Asus Elabilities CA Cartables Cath 5414 Account Payable 5200 Acouscate 2000 Payable 2.500 www.barcolet Account 11025 Web 360 Titel 100 54000 Paville 64.000 Pod 2100 DAD 1300 12700 Lang Em co 21000 150.000 SE Cock e The 114299 0 222.299 296 1 Deferred Revenue 6,800 7 Apr 14 > Deferred Revenue Service Revenue 6,800 6,800 8 Apr 30 Accounts Receivable Service Revenue >> 54,000 54,000 9 May 31 Notes Receivable Accounts Receivable 54,000 54,000 10 Jun 15 > Accounts Receivable Service Revenue 20,500 20,500 11 Jun 30 Bad Debt Expense Allowance for Uncollectible Accounts 1,025 Ng 1,025 O 12 Jun 30 Interest Receivable Interest Revenue 360 360 13 Jun 30 Service Revenue Interest Revenue Sales Discounts Retained Eaming 86.900 360 336 86,924 14 Jun 30 55,265 Retained Earnings Depreciation Expense Supplies Expense Salaries Expense Bad Debt Expense Interest Expense Rent Expense Insurance Expense 11,400 2 200 29.000 1025 1.240 4,600 5,800 SOS