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I just need the journal entries from Aug. 1- Dec. 31 And the income statement, statement of SE and balance sheet Thank you in advance!
I just need the journal entries from Aug. 1- Dec. 31 And the income statement, statement of SE and balance sheet Thank you in advance! GL2-16 Complete the full accounting cycle Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they hold their first adventure races. These races will involve four person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of Incorporation state that the corporation will sell 35,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzle will act as co-presidents of the company. The following transactions occur from July 1 through December 31 Jul. 1 Sell $17.500 of common stock to Susie. Jul 1 Sell $17.500 of common stock to Tony. Jul. 1 Purchase a one-year Insurance policy for $4,680 (5390 per month) to cover injuries to participants during outdoor clinics Jul. 2 Pay legal fees of $1,300 associated with incorporation. Jul. 1 Pay for advertising of 5320 to a local newspaper for an upcoming mountain biking cline to be held on July 15. Attendees will be charged $30 on the day of the elinie. Jul. 8 Purchase 10 mountain bikes, paying $10,00 cash. Jul. 15 On the day of the clinie, Great Adventures receives cash of $1,800 from 60 bikers. Tony conducts the mountain biking clinic Jul. 22 Decause of the success of the first mountain biking clinic, Tony holds another mountain biking elinie and the company receives $2,300. Jul. 24 Pay Seo to a local radio station for advertising to appear imediately. A kayaking elinte will be held on Jul. 30 Great Adventures receives cash of $8,400 in advance from 10 kayakers for the upcoming kayak elinie. hug. 1 Great Adventures obtain a $33,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan La due in three years, and 6 annual Interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $13,000 cash. Aug. 10 Twenty additional kayakers pay $3,400 15170 each), sa addition to the $8,400 that was paid in advance on July 30, on the day of the clinte. Tony conducta the first kayak cline. Aug. 17 Tony conducts a second kayak clinie, and the company receives 510,700 cash. Aug. 24 orice supplies of $1,900 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company renta a storage shed for one year, paying $4,680 (5350 per month) in advance. Sep. 21 Tony conducts a rock-climbing clinic. The company receives 513,800 cash. oct. 17 Tony conducts an orienteering clinte. Participants practice how to understand a topographical map, read an Dec. 1 Tony decides to hold the company's first adventure race on December 15. Four-person team will race from checkpoint to checkpoint using a combination of mountain bikin kayaking, orienteering, trail running, and rock-climbing skills. The first tean in each category to complete all checkpoints in order via. The entry fee Dec. 5 To help organize and promote the race. Tony hires hie college roommate. Victor. Victor will be paid 570 in salary for each team that competes in the race. Mis salary will be paid after the race. Deo. The company paye 51.300 to purchase a permit from a state park where the race will be held. The amount is Dec. 12 The company purchases racing supplies for $2.600 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack food and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives 522,400 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Vietor salary of $2,800. Dec. 31 The company pays a dividend of 14,800 (52,400 to Tony and $2,400 to Sunie). Dec.31 Using his personal money. Tony purchases a diamond ring for 15,100. Tony surprises Buste by proposing that they get married. Susie accepts and they get married The following Information relates to year-end adjusting entries as of December 31, 2021 a Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $4.520 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 1has expired. d of the $1,900 ck office supplies purchased on July 4, 5280 remains. e Interest expense on the $33.000 loan obtained from the city council on August I should be recorded. f. Or the $2,600 of racing supplies purchased on December 12. $300 remains Suzie calculates that the company owes $13,000 in income taxes. Statement General Journal Income Statement uirement Balance Sheet General Ledger Trial Balance The ending balance values from the General Ledger tab flows through to the Tral Balance below Unadjusted Prev 1 of 1
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I just need the journal entries from Aug. 1- Dec. 31
And the income statement, statement of SE and balance sheet
Thank you in advance!
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