Hi I just need to know what the service revenue for clinic and racing values are as those are the only things I have incorrect. The rest of it is correct just need service revenue values
BABOLICHE www you and develop a ropes course for outdoor enthusiasts On July 1, 2021 Tony and Suzle organize their new company as a corporation, Grest Adventures in The articles of ncorporation state that the corporation will sell 21000 shares of common stock for Sleach Each share of stock represents a unit of ownership. Tony and Suzie wir act as co-presidents of the company. The following transactions occur from July through December 31 Sell 12.5 of common stock to uzde. Sul. 1 Sell 550, of common stock to Toy. Jul. Purchase a one-year insrance policy for $4,200 ($350) to cover injuries to participants during outdoor clinics. ul. 2 ray tagal fees of 12.00 associated with incorporation Jul. Purchase office supplier of $1,100 account ul. ray for advertising of 20 to a local paper for an coming mountain big cinic to be held on July 15. Attede 1 be changed se on the day of the time Purchase 18 montantes payine 534,00 cash. Sol is on the day of the elde. Great Arutture received cash of $3,50 free robikers. Tory conduct the montata in clinic Jul 22 secate of the success of the first mountain biking Tory holda other mountain clean the con receives 53.85e. Jul 24 ay to local radio station for trang tepper mediately. A kayaking state will be held on August 10, and attendees can pay $120 in advance or 517 on the day of the clinic Jule Great Adventures receives tash of $8.00 in advance from a kayakers for the upcoming Kayak elinde Aug. Great Adventures obtains a 338, low interest loan for the company from the city counct, which has recently passed an initiative encouraging butas development related to outdoor activities. The lost due in three years, and bx alterest is due each year on May 31 All the comparty purentas, paying 519, cash Aug. 10 Tunty desional kayaks pay 3.400 (5270 wach). In addition to the $8,400 that was to in advance July 30. on the Bay of the clinic. Tay conducts the first kayak elinde Aug 17 Tony conducts a second ayak line, and the company receives $12,00 cash A office tuppites of 31.100 purchased on July aid in full Seo. To provide better storage of bakes and says when tot in we, the companyents a storage the for w year paying $5,000 (533 per month) in se Sep. 2Tony conducts rock clinic The company receives 51458 cath Det. 17 Tony conducte instantering clinic. Participants practice how to understand togalma, rest an inter.COM, and orient through heavily wooded areas. The company receives 518.800 cash Dec. 1 Tony decides to hole the company srst anture race on December 15. Your person will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteert, trail running and rock-bing 13. The first to teach category to complete all checkpoints in order wint. The entry fee for each to Dec. to help organize and promote the race, tot het college roommate, Victor Victor will be passe in salary for each team that comes to the cate, His salary wil te paid after the race. Dec. The comparty pay $3,900 to purchase perett frettate park where the race wall be held. The cutti recorded as a scellaneous expense Dec. 12 The company pure racing supplier for 12,200 account sein se day. Supplies include trepte for the top-Finishing to teach category, promotional shirts, snack foods and rice for participants, and field saker to prepare the racecourse Der Is The comparty receives 124.000 cast for a total of Forty town, and the race is held Dec 16 The Company prys Victor's salary of $1,600 Dec. The company pays dividend of 34.000 52.05e to Tony and $2ese te Suede). Dec sa personal sony Tony purchase and ring for so. Tey sur sesle by proposing that they per carried. Suate accepts and they get married The following information relates to year-end adjusting entries as of December 31, 2021 & Depreciation of the mountain bikes purchased on July and kayaks purchased on August 4 Totals $6.920 b. Six months of the one-year insurance policy purchased on July 1 has expired. c Four months of the one-year rental agreement purchased on September 1 hos expired d. Of the $1100 of office supples purchased on July 4 $230 remains e Interest expense on the $38,000 loan obtained from the city council on August 1should be recorded of the $2.200 of racing supples purchased on December 12. Sto remains Suzie calculates that the company owes $13.600 in income taxes Lodge Tha Sot Whe 191 > Requirement Journal Ledger inal Balance Statement SE Balance Sheet Prepare the journal entries for 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 Prepare the closing entry for revenue. Credit Note: Enter debits before credits. Date General Journal Dec 31, 2021 Service Revenue (Clinic) Service Revenue (Racing) Retained Earnings Debit 57.100 31,350 88.450 Record entry Clear entry View general journal $ Supplies (Office) 870 32 Dec 31, 2021 950 Interest Expense Interest Payable so 950 33 Dec 31, 2021 2,090 Supplies Expense (Racing) Supplies (Racing) 2,090 34 Dec 31 2021 13,600 Income Tax Expense Income Taxes Payable 13,600 35 Dec 31, 2021 Service Revenue (Clinic) Service Revenue (Racing) Retained Earnings OOO 57.100 31,350 88.450 36 Dec 31, 2021 34,400 slo Retained Earnings Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense (Office) Supplies Expense (Racing) 1,050 6,920 13,600 2.100 950 2,000 1.900 1,320 1,600 870 2,090 37 Dec 31, 2021 4,100 Retained Earnings Dividends 4.100
