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I can't figure out what is incorrect. Any help? Says it's incomplete even after the journal entries.. so it's incorrect and incomplete. Need help! RWP8.1

I can't figure out what is incorrect. Any help?
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Says it's incomplete even after the journal entries.. so it's incorrect and incomplete. Need help!
image text in transcribed
image text in transcribed
RWP8.1 (Stetic) Great Adventures Continulng Cese (GL) At the end of 2025, the following information is avalable for Great Adventures. - Acditonal interest for five months needs to be accrued on the 530.000,6% note payable obtained on August 1,2024. Recall that annual interest is paid each July 31 . - Assume that $10.000 of the $30.000 note discussed above is due next year. Record the entry to reciassify the currert portion of the long-tem note. - By the end of the year, $20.000 in gft cards have been redeemed. The company had sold gat cards of $25,000 dunng the year and recorded those as Deferred Revenue. - Great Advertures is a defendant in irigation involving a bling accident during one of its adverture races. The company beleves the likelihood of payment occurring is probable. and the estimated amount to be paid is $12.000. - For sales of MU watches, Great Adventures offers a warrarty against defect for one year. At the end of the yeat, the company estimates future warranty costs to be $4,000. Answer is not complete. Prepare the journal entries for transactions. (if no entry is required for a paticular transactionifevent, seiect tio Joumal Eitry Recuired" in the first account feld. RWPB-1 (Static) Great Adventures Continulng Cese (GL) At the end of 2025, the following infornation is available for Great Adventures. - Additional interest for fice monting needs to be accrued on the $30.000,6% note payable obrained on Augur: 1. 2024. Recall mat annual interest is pald each july 31 . - Assume that $10.000 of the $30.000 note discussed above is due next year, Record the entry to reciaskly the curtent portion of the long-term note. - By the end of the yeac, $20.000 in gitt cards have deen redeemed. The company had rold gitt carcs of 525,000 dunng the year and recorded thoce as Deferred Revenve. - Greas Adventures is a defendart in ivigation involving a bliong accicent during one of its asverture races. The company believes the llkelinood of payment occurring if probable, and the ektmated amount to be paid 15512.000 - For sales of MU watches. Great Acventures offers a watanty againet defect for one yeac At the end of the yeac the company ertimates funure warranty costs to be $4.000 8. Answer is not complete. Prepare an income statement for the period ended December 31, 2025, Choose the appropciaze accounts to complese the company's income statement. The unadjusted, adjusted, or post-doting bulances will appear for each account, based on yoursalection. RWPB-1 (Static) Great Adventures Continulng Cose (GL) At the end of 2025, the following information is avallable for Grest Advertures. - Additional interest for five monthe needs to be accrued on the 530.000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31. - Assume that $10,000 of the 530,000 note discussed above is due nextyest Record the entry to reciasslty the current portion of the long-term note. - By the end of the yeat, $20,000 in gitt cards have been redeemed. The company had soid glt cardi of $25,000 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in irtigation involving a blking accioent during one of its adverture races. The company belleves the likelihood of payment occurting is probable, and the estimated amount to be paid is $12,000 - For sales of MU watches, Great Adventures offers a warranty against defect for one year At the end of the year, the company estimates future warranty costs to be $4,000. (3) Answer is not complete. Prepare a dassified balance sheet as of December 31, 2025. Choose the appropriate accounts to comolete the company's balance sheet. The unadjusted, adjusted, or post-closing balancer will appear for each account, based on your selection. RWPB-1 (Static) Great Adventures Continuing Case (GL) At the end of 2025, the following information is avaliable for Great Adventures. - Additional Interest for five months needs to be accrued on the $30,000,6% note payable obtained on August 1, 2024. Recall that: annual interest is paid each July 31 . - Assume that $10,000 of the $30,000 note discussed above is due next year. Record the entry to reclasslfy the currert portion of the longterm note. - By the end of the year, $20.000 in gtt cards have been redeemed. The company had sold glt cards of $25.000 durting the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its aciventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12.000. - For sales of MU watches. Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions, (If no entry is required for a particular transaction/event select "No Joumal Entry Required" in the first account field.) RWP8-1 (Static) Great Adventures Continuing Case (GL) At the end of 2025, the followng information is avallable for Great Adventures. - Additional interest for five months needs to be accrued on the $30.000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 . - Assume that $10,000 of the $30,000 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. - By the end of the year, $20,000 in gltt cards have been redeemed. The company had sold gift cards of $25,000 durting the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in itigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid 15$12,000. - For sales of MU watches, Great Adventures offers a warranty against defect for one yeat. At the end of the year, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions. (tf no entry is required for a particular transaction/event, select "No Joumal Entry Required" in the first account field.) RWP8.1 (Stetic) Great Adventures Continulng Cese (GL) At the end of 2025, the following information is avalable for Great Adventures. - Acditonal interest for five months needs to be accrued on the 530.000,6% note payable obtained on August 1,2024. Recall that annual interest is paid each July 31 . - Assume that $10.000 of the $30.000 note discussed above is due next year. Record the entry to reciassify the currert portion of the long-tem note. - By the end of the year, $20.000 in gft cards have been redeemed. The company had sold gat cards of $25,000 dunng the year and recorded those as Deferred Revenue. - Great Advertures is a defendant in irigation involving a bling accident during one of its adverture races. The company beleves the likelihood of payment occurring is probable. and the estimated amount to be paid is $12.000. - For sales of MU watches, Great Adventures offers a warrarty against defect for one year. At the end of the yeat, the company estimates future warranty costs to be $4,000. Answer is not complete. Prepare the journal entries for transactions. (if no entry is required for a paticular transactionifevent, seiect tio Joumal Eitry Recuired" in the first account feld. RWPB-1 (Static) Great Adventures Continulng Cese (GL) At the end of 2025, the following infornation is available for Great Adventures. - Additional interest for fice monting needs to be accrued on the $30.000,6% note payable obrained on Augur: 1. 2024. Recall mat annual interest is pald each july 31 . - Assume that $10.000 of the $30.000 note discussed above is due next year, Record the entry to reciaskly the curtent portion of the long-term note. - By the end of the yeac, $20.000 in gitt cards have deen redeemed. The company had rold gitt carcs of 525,000 dunng the year and recorded thoce as Deferred Revenve. - Greas Adventures is a defendart in ivigation involving a bliong accicent during one of its asverture races. The company believes the llkelinood of payment occurring if probable, and the ektmated amount to be paid 15512.000 - For sales of MU watches. Great Acventures offers a watanty againet defect for one yeac At the end of the yeac the company ertimates funure warranty costs to be $4.000 8. Answer is not complete. Prepare an income statement for the period ended December 31, 2025, Choose the appropciaze accounts to complese the company's income statement. The unadjusted, adjusted, or post-doting bulances will appear for each account, based on yoursalection. RWPB-1 (Static) Great Adventures Continulng Cose (GL) At the end of 2025, the following information is avallable for Grest Advertures. - Additional interest for five monthe needs to be accrued on the 530.000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31. - Assume that $10,000 of the 530,000 note discussed above is due nextyest Record the entry to reciasslty the current portion of the long-term note. - By the end of the yeat, $20,000 in gitt cards have been redeemed. The company had soid glt cardi of $25,000 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in irtigation involving a blking accioent during one of its adverture races. The company belleves the likelihood of payment occurting is probable, and the estimated amount to be paid is $12,000 - For sales of MU watches, Great Adventures offers a warranty against defect for one year At the end of the year, the company estimates future warranty costs to be $4,000. (3) Answer is not complete. Prepare a dassified balance sheet as of December 31, 2025. Choose the appropriate accounts to comolete the company's balance sheet. The unadjusted, adjusted, or post-closing balancer will appear for each account, based on your selection. RWPB-1 (Static) Great Adventures Continuing Case (GL) At the end of 2025, the following information is avaliable for Great Adventures. - Additional Interest for five months needs to be accrued on the $30,000,6% note payable obtained on August 1, 2024. Recall that: annual interest is paid each July 31 . - Assume that $10,000 of the $30,000 note discussed above is due next year. Record the entry to reclasslfy the currert portion of the longterm note. - By the end of the year, $20.000 in gtt cards have been redeemed. The company had sold glt cards of $25.000 durting the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its aciventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12.000. - For sales of MU watches. Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions, (If no entry is required for a particular transaction/event select "No Joumal Entry Required" in the first account field.) RWP8-1 (Static) Great Adventures Continuing Case (GL) At the end of 2025, the followng information is avallable for Great Adventures. - Additional interest for five months needs to be accrued on the $30.000,6% note payable obtained on August 1, 2024. Recall that annual interest is paid each July 31 . - Assume that $10,000 of the $30,000 note discussed above is due next year. Record the entry to reclassify the current portion of the long-term note. - By the end of the year, $20,000 in gltt cards have been redeemed. The company had sold gift cards of $25,000 durting the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in itigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid 15$12,000. - For sales of MU watches, Great Adventures offers a warranty against defect for one yeat. At the end of the year, the company estimates future warranty costs to be $4,000. Prepare the journal entries for transactions. (tf no entry is required for a particular transaction/event, select "No Joumal Entry Required" in the first account field.)

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