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I need help making the general journal. November 24 Resell 5,600 on of $$) Great Adventures Problem AP10-1 (GL) Tony and Suzie have purchased land

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I need help making the general journal. image text in transcribed
November 24 Resell 5,600 on of $$) Great Adventures Problem AP10-1 (GL) 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 unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each 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: November 5 Issue an additional 116,000 shares of common stock for $10 per share. November 16 Purchase 11,600 shares of its own common stock (i.e., treasury stock) for $23 per share. shares of treasury stock at $24 . Declare a cash dividend on its common stock of $13,000 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 31 Pay $840,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. December 1 Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Balance Sheet Statement The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, or post- closing balances will appear for each account, based on your selection. Post-closing Dates: Nov 05 to: Dec 31 GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Debit Credit IS Cash Accounts Receivable 249,256 51,600 2,560 8,600 Allowance for Uncollectible Accounts Inventory Prepaid Insurance Land 1,060 660,000 78.480 26,850 840.000 Equipment Accumulated Depreciation Buildings Accounts Payable Interest Payable Income Tax Payable . Deferred Revenue Notes Payable (Long-term) Notes Payable (Current) Contingent Liability Warranty Liability Common Stock ... Treasury Stock Additional Pald-in Capital Retained Eamings Service Revenue Sales Revenue 22,400 1,150 15,300 6,600 623,348 64,178 13,600 5,600 136,000 138,000 1,049,600 21,250 45,300 136,000 430 280 Sales Discounts Interest Revenue Cost of Goods Sold Depreciation Expense Supplies Expense 39,300 18,050 900 Salaries Expense 28,000 2,800 Bad Debt Expense be Interest Expense nene Rent Expense Income Tax Expense Insurance Expense Repairs and Maintenance Expense Warranty Expense Loss Total 8,780 Direu 3,200 2:20 15,300 6,500 560 5,600 13,600 2,170,016 S IS 2,170,016 Great Adventures Problem AP10-1 (GL) 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 they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzle each purchased 10,000 shares (20,000 shares total) of St par value common stock at 1 per share. The following transactions affect stockholders' equity during the remainder of 2022: November 5 Issue an additional 116,000 shares of common stock for $10 per share. November 14 Purchase 11,600 shares of its own common stock (e. try toek) for $23 per share. November 24 Resol 5.600 shares of treasury stock at $24 per share December 1 Declare cash dividend on its common stock of $15,000 (56.10 per share) to all stokholders of record on December 20 Pay the cash dividend declared on December 1. December 31 Pay $$40,000 for construction of new cabine and other facilities. The entire expenditure Le recorded in the Buildings account. General General Income Requirement Journal Ledger Trial Balance Statement Balance 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.) View transaction lit Journal entry worksheet 1 Record the issue of additional 116,000 shares of common stock for $10 per

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