I just need help finishing the general journal. I have the correct entries but I need help with the values in the debit/credit columns for #7 & 8.
X Answer is not complete. Trial Income Balance Great Adventures Problem AP10-1 (GL) Require... General General Journal Ledger Balance Statem... Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but No Date General Journal Debit Credit unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made Nov 05 Cash 1,140,00 through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the Common Stock 114,000 additional funds for the camp. Additional Paid-in Capital 1,026,00V Nov 16 Treasury Sto 250,800V Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each Cash 250,800 purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2022: 3 Nov 24 Cash 124,200V Treasury Stock 118,800 November 5 Issue an additional 114, 000 shares of common stock for $10 per share. Additional Paid-in Capital 5,400 November16 Purchase 11, 400 shares of its own common stock (i.e., treasury stock) for $22 per share. November24 Resell 5, 400 shares of treasury stock at $23 per share. Dec 01 Dividends 12,800V Declare a cash dividend on its common stock of $12, 800 ($0.10 per share) to all stockholders of record on Dividends Payable 12,800 December 1 December 15. December20 Pay the cash dividend declared on December 1. 5 Dec 20 Dividends Payable 12,800 December31 Pay $835, 000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Cash 12,800 Buildings account. 6 Dec 30 Buildings 835,000V Cash 835,000 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Dec 31 Service Revenue Sales Revenue 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial 8 Dec 31 Retained Earnings Balance' tabs to see the effect of the transactions on the account balances. Cost of Goods Sold 2. Review the 'Trial Balance' as of December 31, 2022, in the 'Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31, 2022, in the 'Income Statement' tab. Depreciation Expense 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. Supplies Expense 5. Record the closing entries in the 'General Journal' tab. Salaries Expense Bad Debt Expense nterest Expense Rent Expense Income Tax Expense Insurance Expense Repairs and Maintenance Expense Warranty Expense Loss 9 Dec 31 Retained Earnings 12,800V Dividends 12,800 Requirement General Ledger >
