I need help with the general ledger.
GL2-16 Complete the full accounting cycle Jul 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'll hold their first adventure races These races will involve four person teams that race from one checkpoint to the next using a combination of kayang, 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 23.000 shares of common stock for $1 each Each share of stock represents a unit of ownership Tony and Suzie will act as co-presidents of the company. The following transactions occur from July through December 31 Sul Sell $11,500 of common stock to Suzie Jul Sell $11,5 of common stock to Tony Jul 1 Purchase a one-year insurance policy for $1.20 (5410 per month) to cover us to participants during outdoor clinics Jul 2 Pay legal fout of $1,400 associated with incorporation Jul & Pichase office tupplies of 31.700 on account Jul. 7 Pay for advertising of $210 to a local newspaper for an upcoming mountain biking and to be held on July 1. Attendees will be charged on the day of the clinic Purchase 10 mountain bikes, paying $15,600 cash Jul 15 on the day of the clini, Great Adventures receive cash of $3,500 from Divers Tony conduct the mountain biking clinic Jul 22 Because of the success of the first mountain bikin linie, Tory hole nath sountain biling clinic and the company receives , Jul 24 Pay 10 to a local radio station for advertising to appear imediately. Wayaiding dine Mill be held on August 10, and attendees can pay $110 in advance or $10 on the day of the clinic Jul 30 Great Adventures receves cash of $10,000 in advance from Wayakers for the wine kayak clinic Aug 1 Great Adventures obtains 342,000 low-interest town for the company from the city counci ich has recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years and annual interest is due each year on July 31 Mug 4 The company purchases 14 layaks, paying $20, cash Aug 10. Tenty additional ayaker's pay $3,60 ($130 chin destion to the $10, that was paid in advance only 30, on the day of the clinic Tony conducts the first layak clinic Aug 17 towy conducts a second ayak ini, and the company receive 312,00 cash Aug 24 Office supplies of $1,700 purchased on July 4 are paid in Sep 1 To provide better storage of bikes and was in the company storage shed for one year paying 3) ($20 per month) in advance Sep 21 Tory conducts a rock climbing clinic. The company receives 314.5 cash Oct 1% Tony conducts an enteering clinic. Participants practices to understand coms and orient through heavily wooded areas. The comary receives 11 toporphical predmetarse cash Dec 2 Tony decides to hold the company's first adventure conceber 15 persons will race from the point to checkpoint in combination of mountain biking first tean in such category to complete all checkpoints in order the entry fee for each is 360 rienterin trail and rock climbings. The Dec To help organize and promote the aceTony hire his collert. Victor Victor will be din salary for each tem that compete in the race. His salary will be paid after the Dec. The company pays $1,500 to purchase it from state park where there without conda sisellaneous expense Dec 22 The company purchase in ples Yor $2.100 konteines Supe inte trophies for the top finish to each category. Pronta nack Foods Grotte da to prepare the Pacecourse Dec The company receives 1.27.200 frontal oorty the Dec 16 The company pays Victory of $2.000 De the company pas dividend of (4450 m2 Dec 11 personal y for purchasing 4.1 or that they sarried and they are The following information relates to year-end adjusting entries as of December 31, 2021 Depreciation of the mountain bikes purchased on July and Rayaks purchased on August 4 totals $7.280 Six months of the one year insurance policy purchased on July has expired four months of the one year rental agreement purchased on Septemberlhas expired d. Or the $1700 of office supplies purchased 00 y 45330 remis e Interest expense on the 542.000 loan obtained from the city counclon August T should be recorded to the $2100 of racing supplies purchased on December 12, $100 remains Suzie calculates that the company owes $14.500 in Income 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 bilang 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 bikingonentoring and trail running in the long run, they plan to sell outdoor gear and develop a ropes course for outdoor anthusiasts On July 1, 2021. Tony and Sule organize their new company as a corporation Great Adventures Inc. The articles of Incorporation state that the corporation will coll 23.000 shares of common stock for teach. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from through December 31 1 Sall $11,5 cm stock to Mall 511,500 of como stock to Towy. Jul 1Purchase one year insurance policy for $4,920 (5410 person to cover Juries to participants during outdoor clines. NE 2 Pwylegal fees of $1,400 associated with incorporation Purchase office suples of $1,700 on account hy for advertising of $200 to local paper for an ing mountain biking in te don July 15. Attendees will be charges on the day of the clinic Purchase le montain bike paying $35.00 Jul 15 on the day of the links, Great Adventures receives cathot 33,500 from 7. Tony contact the mountain biking clinic. Jul 22 because of the success of the first mountain Toey told mother online din cand the company receives $4.000 Jul 24 5718 to a local radio station for advertising to early in clinic will be held at 30, attendees can pay $170 L of SEBO the day of the link Jul se Great Adventures receives cash of $10,00 Lace Frony for the upcoming a clinic A Great Adventures ostalim $2,000 tonterest on to the crom the city council, the recently passed Initiative encouraging business development related to or activities. The comid in the years, and Interest is de each year on July 11 A The company purchases 14 ayak paying $20.00 h Aug. Tentystionales pay 5.0 (180 each). Inition to the $18, that pula in advance on July on the day of the clinic. Tory condicts the first day in p. 17 Tony conducts second aya dinle, the company receive 512,200 ch Aug 24 office was of $2,700 purchased Suly 4 ure pale in full S. 1 To prove better storage ottoman sayes when tot in use, the company as storage shed for one year. Sepatu consts.rock-cantine chine. The company rece 534,tech paying 3), 140 (5320 PER month in advance Oct 17 Del Tony de les to hold be company's testerace on December 15. Four-person team will receio decidetta an orienteering Chine Participants practice to stand tuperar atimeter, use compass, dorimit te wy ons. The company receives 1. cesti using a combination of mountain biking an entering, trail running wrocking with the turst in a category to complete all checkpoints in order the streeformach team is so Del 5 To his organize and promote the race. They wires his college romte, Victor Victor will be paid 350 in salary for each competes in the race. His salary will be paid after the race Dec. The company pays $1.500 to purchase a permit from a state per were the race will be held. The mounts recorded as miscellaneous Dec. 22 The company purchases racing supplies to $100 account or ins Scoples include tropes for the top-tinting tems in each category, promotional shirts, ac foods for partit, and it was to prepare the racecourse Dec. The company receives $27.00 care tutto forty tend the race is te Dec. is the compary wys Victor salary + $0.00 D. The company ways divider of 54,100 2,5 to Tony 52,25 to Sate) Dec. Using wis personat money, Tony purchases and ring for 56.300 Tony surprises Society proposing that they get marind Sie accepts and they us! The following information relates to your end adjusting entries as of December 31, 2021 a Depreciation of the mountain bikes purchased on July and kayaks purchased on August 4 tals $7.280 b. Six months of the one year insurance policy purchased on JuyThas expired c. Four months of the one year rental agreement purchased on September has expired d. Or the $1700 of office supplies purchased on July 4 $330 romans e Interest expense on the $42.000 loan obtained from the city council on August 1 should be recorded t Of the $2.500 of racing supplies purchased on December 12. $100 ron g. Suzse calculates that the company owes $4.500 in income taxe Tony conducts checkpoint te that General Joha name Staumento Ledger Statement Balance Sheet Prepare the journal entries for transactions of natyrored for atraentet" in the fort account fald
