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INTRODUCTION: Matt Lapinski, an MTSU student, consistently encounters problems balancing his work life and his academic life. Matt's employer complains about rearranging the company's work schedule every semester to accommodate Matt's new class schedule. Also, Mart frequently feels pressure to work more bours than he can manage while simultaneously working up to his full potential at school. Matt decides that starting his ownt business will enable him to have more control over his work schedule. In addition, this short-term business venture will provide him with some valuable business experience to include on his resume. Matt needs to find a business venture that requires a minimums amount of capital investment because he, like most college students, doesn't have much cash to invest. He also feels he would be more motivated to put in the hard work that it takes to build a suecessful business if it involves some activity that be enjoys. After careful consideration, Mant decides to establish Blue Raider Adventure Park on some land his grandfather owns (and has agreed to let Matt use for free') just outside the city limits of Murfreesboro. Matt has very fond childhood memories of countless hours spent playing on this land, so he decides to develop the adventure park: to be of interest to school-age children. His grandfather's land had several natural features that offer the prospect of fun for children with minimal investment - a large pond for canocing and a sizeable cave for spelunking tours. A long, winding nuture trail can be developed for practically no coss. He plans to enhance the natural features of the land by developing an obstacle course and a riplining course. A small, empty bam on the property will serve as both a ticket office and a storage building for the equiponent. Matt is a business major who has not yet taken his first accounting course, so he is relying on you to help him properly account for his new business venture. Together you two decide to organize his business as a sole proprictorship based on his need to set up this business simply and economically. Matt begins developing the park in August, and he opens to the public on September 1. September 30 is Blue Raider Adventure Park's fiscal year end. The accounting cycle illustrated below is designed to provide information about a company's profitability (or lack thereof!) along with many other important financial characteristics. This The accoanting cycle illustrated below is designed to provide information about a company's profitability (or lack thereot?) along with many other important financial characteristics. This same accounting cycle is applicable to businesses of any size from small, local businesses like Blue Raider Adventure Park to large, global businesses like McDonalds: Exhibit 4.7-Steps in the Accounting Cycle (from Chapter 4 of your textbook) Each of these steps is explained in detail in Chapters 1-4 of our textbook. Step 1. Analyze transactions, is covered in Chapter 1 . While this step is very important, it is a thought process, the results of which do not materialize into any written action until Step 2, Journalize. Therefore, we will begin this packet with Step 2 in our quest to complefe the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cyele as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2, 3, and 4, Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints" include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not feconcile with the check figure(s) provided, our expectation is that you will seek assistance, exhausting all available resources (including the Accounting Lab tutors (N428) and your professor), to correet your work before coming to class. Blve Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. Step 2 in our quest to complete the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2, 3, and 4 . Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints " include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not reconcile with the check figure(s) provided, our expectation is that you will seck assistance, exhansting all available resources (including the Accounting Lab tutors (N428) and your professor), to correct your work before coming to class. Blue Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. Helpful Hints: The is a list of all of the company's accounts and the number assigned to each account. The accounts will appear in this came order in the general ledger. Chapter 2 (Accounting Cycle Steps 2,3, \& 4) 4 ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions in the general journal: you maxiomitexnolanations. Use the senerel ioumal working naners in your packet. Helpful Hints: The is a list of all of the company's accounts and the number assigned to each account. The accounts will appear in this same order in the general ledger. Chapter 2 (Accounting Cycle Steps 2, 3, \& 4) - ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions in the general journal; you may omit explanations. Use the Helpful Hints: Journalizing is the process of recording each trancaction in the general joumal in chronological (date) order using appropriate account titles and properly characterizing the increase or decrease to each account as either a debit or a credit, based on Ceneral Jousral Bar Raider Madisebare Park. INTRODUCTION: Matt Lapinski, an MTSU student, consistently encounters problems balancing his work life and his academic life. Matt's employer complains about rearranging the company's work schedule every semester to accommodate Matt's new class schedule. Also, Matt frequently feels pressure to work more hours than he can manage while simultaneously working up to his full potential at school. Matt decides that starting his own business will enable him to have more control over his work schedule. In addition, this short-term business venture will provide him with some valuable business experience to include on his resume. Matt needs to find a business venture that requires a minimum amount of capital investment because he, like most college students, doesn't have much cash to invest. He also feels he would be more motivated to put in the hard work that it takes to build a successful business if it involves some activity that he enjoys. After careful consideration, Matt decides to establish Blue Raider Adventure Park on some land his grandfather owns (and has agreed to let Matt use for free!) just outside the city limits of Murfreesboro. Matt has very fond childhood memories of countless hours spent playing on this land, so he decides to develop the adventure park to be of interest to school-age children. His grandfather's land had several natural features that offer the prospect of fun for children with minimal investment - a large pond for canoeing and a sizeable cave for spelunking tours. A long, winding nature trail can be developed for practically no cost. He plans to enhance the natural features of the land by developing an obstacle course and a ziplining course. A small, empty barn on the property will serve as both a ticket office and a storage building for the equipment. Matt is a business major who has not yet taken his first accounting course, so he is relying on you to help him properly account for his new business venture. Together you two decide to organize his business as a sole proprietorship based on his need to set up this business simply and economically. Matt begins developing the park in August, and he opens to the public on September 1. September 30 is Blue Raider Adventure Park's fiscal year end. The accounting cycle illustrated below is designed to provide information about a company's profitability (or lack thereof!) along with many other important financial characteristics. This same accounting cycle is applicable to businesses of any size from small, local businesses like Blue Raider Adventure Park to large, global businesses like McDonalds: Exhibit 4.7 - Steps in the Accounting Cycle (from Chapter 4 of your textbook) Chapter 4 of your textbook) Each of these steps is explained in detail in Chapters 1-4 of our textbook. Step 1, Analyze transactions, is covered in Chapter 1. While this step is very important, it is a thought process, the results of which do not materialize into any written action until Step 2, Journalize. Therefore, we will begin this packet with Step 2 in our quest to complete the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2,3 , and 4 . The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2,3 , and 4. Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints" include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not reconcile with the check figure(s) provided, our expectation is that you will seck assistance, exhausting all available resources (including the Accounting Lab tutors ( N428 ) and your professor), to correct your work before coming to class. Blue Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions Blue Raider Adventure Park INTRODUCTION: Matt Lapinski, an MTSU student, consistently encounters problems balancing his work life and his academic life. Matt's employer complains about rearranging the company's work schedule every semester to accommodate Matt's new class schedule. Also, Mart frequently feels pressure to work more bours than he can manage while simultaneously working up to his full potential at school. Matt decides that starting his ownt business will enable him to have more control over his work schedule. In addition, this short-term business venture will provide him with some valuable business experience to include on his resume. Matt needs to find a business venture that requires a minimums amount of capital investment because he, like most college students, doesn't have much cash to invest. He also feels he would be more motivated to put in the hard work that it takes to build a suecessful business if it involves some activity that be enjoys. After careful consideration, Mant decides to establish Blue Raider Adventure Park on some land his grandfather owns (and has agreed to let Matt use for free') just outside the city limits of Murfreesboro. Matt has very fond childhood memories of countless hours spent playing on this land, so he decides to develop the adventure park: to be of interest to school-age children. His grandfather's land had several natural features that offer the prospect of fun for children with minimal investment - a large pond for canocing and a sizeable cave for spelunking tours. A long, winding nuture trail can be developed for practically no coss. He plans to enhance the natural features of the land by developing an obstacle course and a riplining course. A small, empty bam on the property will serve as both a ticket office and a storage building for the equiponent. Matt is a business major who has not yet taken his first accounting course, so he is relying on you to help him properly account for his new business venture. Together you two decide to organize his business as a sole proprictorship based on his need to set up this business simply and economically. Matt begins developing the park in August, and he opens to the public on September 1. September 30 is Blue Raider Adventure Park's fiscal year end. The accounting cycle illustrated below is designed to provide information about a company's profitability (or lack thereof!) along with many other important financial characteristics. This The accoanting cycle illustrated below is designed to provide information about a company's profitability (or lack thereot?) along with many other important financial characteristics. This same accounting cycle is applicable to businesses of any size from small, local businesses like Blue Raider Adventure Park to large, global businesses like McDonalds: Exhibit 4.7-Steps in the Accounting Cycle (from Chapter 4 of your textbook) Each of these steps is explained in detail in Chapters 1-4 of our textbook. Step 1. Analyze transactions, is covered in Chapter 1 . While this step is very important, it is a thought process, the results of which do not materialize into any written action until Step 2, Journalize. Therefore, we will begin this packet with Step 2 in our quest to complefe the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cyele as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2, 3, and 4, Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints" include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not feconcile with the check figure(s) provided, our expectation is that you will seek assistance, exhausting all available resources (including the Accounting Lab tutors (N428) and your professor), to correet your work before coming to class. Blve Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. Step 2 in our quest to complete the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2, 3, and 4 . Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints " include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not reconcile with the check figure(s) provided, our expectation is that you will seck assistance, exhansting all available resources (including the Accounting Lab tutors (N428) and your professor), to correct your work before coming to class. Blue Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. Helpful Hints: The is a list of all of the company's accounts and the number assigned to each account. The accounts will appear in this came order in the general ledger. Chapter 2 (Accounting Cycle Steps 2,3, \& 4) 4 ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions in the general journal: you maxiomitexnolanations. Use the senerel ioumal working naners in your packet. Helpful Hints: The is a list of all of the company's accounts and the number assigned to each account. The accounts will appear in this same order in the general ledger. Chapter 2 (Accounting Cycle Steps 2, 3, \& 4) - ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions in the general journal; you may omit explanations. Use the Helpful Hints: Journalizing is the process of recording each trancaction in the general joumal in chronological (date) order using appropriate account titles and properly characterizing the increase or decrease to each account as either a debit or a credit, based on Ceneral Jousral Bar Raider Madisebare Park. INTRODUCTION: Matt Lapinski, an MTSU student, consistently encounters problems balancing his work life and his academic life. Matt's employer complains about rearranging the company's work schedule every semester to accommodate Matt's new class schedule. Also, Matt frequently feels pressure to work more hours than he can manage while simultaneously working up to his full potential at school. Matt decides that starting his own business will enable him to have more control over his work schedule. In addition, this short-term business venture will provide him with some valuable business experience to include on his resume. Matt needs to find a business venture that requires a minimum amount of capital investment because he, like most college students, doesn't have much cash to invest. He also feels he would be more motivated to put in the hard work that it takes to build a successful business if it involves some activity that he enjoys. After careful consideration, Matt decides to establish Blue Raider Adventure Park on some land his grandfather owns (and has agreed to let Matt use for free!) just outside the city limits of Murfreesboro. Matt has very fond childhood memories of countless hours spent playing on this land, so he decides to develop the adventure park to be of interest to school-age children. His grandfather's land had several natural features that offer the prospect of fun for children with minimal investment - a large pond for canoeing and a sizeable cave for spelunking tours. A long, winding nature trail can be developed for practically no cost. He plans to enhance the natural features of the land by developing an obstacle course and a ziplining course. A small, empty barn on the property will serve as both a ticket office and a storage building for the equipment. Matt is a business major who has not yet taken his first accounting course, so he is relying on you to help him properly account for his new business venture. Together you two decide to organize his business as a sole proprietorship based on his need to set up this business simply and economically. Matt begins developing the park in August, and he opens to the public on September 1. September 30 is Blue Raider Adventure Park's fiscal year end. The accounting cycle illustrated below is designed to provide information about a company's profitability (or lack thereof!) along with many other important financial characteristics. This same accounting cycle is applicable to businesses of any size from small, local businesses like Blue Raider Adventure Park to large, global businesses like McDonalds: Exhibit 4.7 - Steps in the Accounting Cycle (from Chapter 4 of your textbook) Chapter 4 of your textbook) Each of these steps is explained in detail in Chapters 1-4 of our textbook. Step 1, Analyze transactions, is covered in Chapter 1. While this step is very important, it is a thought process, the results of which do not materialize into any written action until Step 2, Journalize. Therefore, we will begin this packet with Step 2 in our quest to complete the first full accounting cycle for Blue Raider Adventure Park. The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2,3 , and 4 . The remaining pages of this packet guide you through this process to enhance your understanding of the complete accounting cycle as it relates to one business venture. This is a serial problem that will be completed over the span of three chapters - chapters 2,3 , and 4. Note that we provide "Helpful Hints" for each accounting cycle step based on our experience teaching this material to introductory accounting students. Several of these "Helpful Hints" include check figures which effectively allow you, to a great extent, to check your work for accuracy. In the event that your work does not reconcile with the check figure(s) provided, our expectation is that you will seck assistance, exhausting all available resources (including the Accounting Lab tutors ( N428 ) and your professor), to correct your work before coming to class. Blue Raider Adventure Park's complete chart of accounts is listed on the following page. It, too, includes helpful hints to ensure you understand that document. Please complete the various steps in this packet as directed by your professor. ACCOUNTING CYCLE STEP 2: Journalize each of the following Blue Raider Adventure Park (BRAP) transactions Blue Raider Adventure Park