Help, this is all one question
RWP6-1 (Static) Great Adventures Continuing Case (GL) [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzle thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking. rain, fishing, or even diving up to 100 feet won't damage them. Suzie clecides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of wathes during the second half of 2025 . All watches are sold for $500 each: July 17 Purchased 50 watches for $7,500 ( $150 per watch) on account. July 31 Sold 48 watches for $20,900 cash. August 12 Purchased 40 watches for $6,400 ( $160 per watch) cash. August 22 Sold 30 watches for $15,000 on account. Septenber 19 Paid for watches purchased on July 17. September 27 Receive cash of $9,000 for watches soid on account on August 22. October 27 purchased 80 watches for $13,600 (\$170 per watch) cash. Noventer 28 sold 90 watches for $45,000 cash. December 4 Purchased 100 watehes for $18,000 (\$180 per watch) on account. Decenber 8 5otd 46 vatches for $20,000 on account. Journal entry worksheet Sold 40 watches for $20,000 cash. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 Sold 30 watches for $15,000 on account. Record the cost of the sale. Note: Enter debits before credits. Journal entry worksheet 1 2 6 17 Receive cash of $9,000 for watches sold on account on August 22. Record the receipt of cash for the sale. Note: Enter debits before credits. Journal entry worksheet (1) 6 Sold 90 watches for $45,000 cash. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 9 17 Sold 40 watches for $20,000 on account. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 Record any necessary adjusting entry for lower of cost and net realizable value. Note: Enter debits before credits. Journal entry worksheet 1 13 Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet 1 10 11 12 (13) Record the closing entry for expense accounts. Note: Enter debits before credits. GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 Unadjusted Decembar 08,2025 RWP6-1 (Static) Great Adventures Continuing Case (GL) [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzle thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking. rain, fishing, or even diving up to 100 feet won't damage them. Suzie clecides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of wathes during the second half of 2025 . All watches are sold for $500 each: July 17 Purchased 50 watches for $7,500 ( $150 per watch) on account. July 31 Sold 48 watches for $20,900 cash. August 12 Purchased 40 watches for $6,400 ( $160 per watch) cash. August 22 Sold 30 watches for $15,000 on account. Septenber 19 Paid for watches purchased on July 17. September 27 Receive cash of $9,000 for watches soid on account on August 22. October 27 purchased 80 watches for $13,600 (\$170 per watch) cash. Noventer 28 sold 90 watches for $45,000 cash. December 4 Purchased 100 watehes for $18,000 (\$180 per watch) on account. Decenber 8 5otd 46 vatches for $20,000 on account. Journal entry worksheet Sold 40 watches for $20,000 cash. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 Sold 30 watches for $15,000 on account. Record the cost of the sale. Note: Enter debits before credits. Journal entry worksheet 1 2 6 17 Receive cash of $9,000 for watches sold on account on August 22. Record the receipt of cash for the sale. Note: Enter debits before credits. Journal entry worksheet (1) 6 Sold 90 watches for $45,000 cash. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 9 17 Sold 40 watches for $20,000 on account. Record the cost of inventory sold. Note: Enter debits before credits. Journal entry worksheet 1 Record any necessary adjusting entry for lower of cost and net realizable value. Note: Enter debits before credits. Journal entry worksheet 1 13 Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet 1 10 11 12 (13) Record the closing entry for expense accounts. Note: Enter debits before credits. GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 Unadjusted Decembar 08,2025
