July 1 Sel1 $10,000 of common stoek to Suzie. July 1 sel1 $10,000 of common stoek to Tony. July 1 Purchase a one-year innurance policy for $4,800 ( $400 per month) to cover injuries to participanta during outdoor elinies. July 2 Pay legal teen of $1,500 assoeiated with incorporation. July 4 purchase office nupplien of $1,800 on account. July 7 Pay $300 to a local newspaper for advertining to appear immediately for an upcoming mountain biking clinie to be held on July 15. Attendees will be charged $50 the day of the elinle. July e purchase 10 mountain bikes, paying $12,000 canh. July 15 On the day of the clinie, Great Ndventuren receives cash of $2,000 trom 40 bikera. Tony conductof the Bountain biking olinie. July 22 Because of the euccess of the first mountain biking clinic, Tony hblda another mountain biking elinic, and the company receives $2,300. July 24 pay $700 to a local radio station for advertising to appear immediately. A kayaking olinic will be held on Auguet 10 , and attendees can pay $100 in advance or $150 on the day of the olinic. July 30 Great Adventures receives total cash of $4,000 in advance from 40 kayakers for the upcoming kayak cinse. The following transactions occur over the remainder of 2024. August 1 Great Adventures obtains a $30,000 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 is due in three years, and 6s annual, interest is due each year on July 31. August 4 The company purchases 14 kayaks, paying $28,000 cash. Aagust 10 Trenty additional kayakers pay $3,000 ( $150 each), in addition to the $4,000 that was paid in advance on July 30 , on the day of the elinic. Tony conducts the first kayak olinic. August 17 Tony conducts a second kayak clinic, and the company receives $10,500 in cash. August 24 office supplies of $1,800 purchased on July 4 are paid in full. September 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 (\$200 per month) in advance. September 21 Tony conducts a rock-climbing clinie. The company receives $13,200 cash. October 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $17,900 cash. December 1 Tony decides to hold the company's first adventure race on December 15 . Four-person teams wil1 race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $500. December 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. December 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies inelude trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $20,000 cash from a total of forty teams, and the race is held. December 16 The company pays victor's Balary of $2,000. December 31 The company pays a dividend of $4,000($2,000 to Tony and $2,000 to $0zie). December 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get marriedi The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,000. 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 1 has expired. d. Of the $1,800 of office supplies purchased on July 4,$300 remains. e. Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,800 of rading supplies purchased on December 12,$200 remains. 9. Suzie calculates that the company owes $14,000 in income taxes. 5. For the period July 1 to December 31, 2024, prepare an income statement, statement of stockhoiders' equity and classified balance sheet. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31,2024 , prepare an income statement. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31, 2024, prepare a statement of stockholders' equity. All account balarices on July 1 were zero. Prepare a ciassified balance sheet as of December 31, 2021 . Note: Amounts to be deducted should be indicated by a minus sign. July 1 Sel1 $10,000 of common stoek to Suzie. July 1 sel1 $10,000 of common stoek to Tony. July 1 Purchase a one-year innurance policy for $4,800 ( $400 per month) to cover injuries to participanta during outdoor elinies. July 2 Pay legal teen of $1,500 assoeiated with incorporation. July 4 purchase office nupplien of $1,800 on account. July 7 Pay $300 to a local newspaper for advertining to appear immediately for an upcoming mountain biking clinie to be held on July 15. Attendees will be charged $50 the day of the elinle. July e purchase 10 mountain bikes, paying $12,000 canh. July 15 On the day of the clinie, Great Ndventuren receives cash of $2,000 trom 40 bikera. Tony conductof the Bountain biking olinie. July 22 Because of the euccess of the first mountain biking clinic, Tony hblda another mountain biking elinic, and the company receives $2,300. July 24 pay $700 to a local radio station for advertising to appear immediately. A kayaking olinic will be held on Auguet 10 , and attendees can pay $100 in advance or $150 on the day of the olinic. July 30 Great Adventures receives total cash of $4,000 in advance from 40 kayakers for the upcoming kayak cinse. The following transactions occur over the remainder of 2024. August 1 Great Adventures obtains a $30,000 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 is due in three years, and 6s annual, interest is due each year on July 31. August 4 The company purchases 14 kayaks, paying $28,000 cash. Aagust 10 Trenty additional kayakers pay $3,000 ( $150 each), in addition to the $4,000 that was paid in advance on July 30 , on the day of the elinic. Tony conducts the first kayak olinic. August 17 Tony conducts a second kayak clinic, and the company receives $10,500 in cash. August 24 office supplies of $1,800 purchased on July 4 are paid in full. September 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 (\$200 per month) in advance. September 21 Tony conducts a rock-climbing clinie. The company receives $13,200 cash. October 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $17,900 cash. December 1 Tony decides to hold the company's first adventure race on December 15 . Four-person teams wil1 race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $500. December 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. December 12 The company purchases racing supplies for $2,800 on account due in 30 days. Supplies inelude trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $20,000 cash from a total of forty teams, and the race is held. December 16 The company pays victor's Balary of $2,000. December 31 The company pays a dividend of $4,000($2,000 to Tony and $2,000 to $0zie). December 31 Using his personal money, Tony purchases a diamond ring for $4,500. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get marriedi The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,000. 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 1 has expired. d. Of the $1,800 of office supplies purchased on July 4,$300 remains. e. Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,800 of rading supplies purchased on December 12,$200 remains. 9. Suzie calculates that the company owes $14,000 in income taxes. 5. For the period July 1 to December 31, 2024, prepare an income statement, statement of stockhoiders' equity and classified balance sheet. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31,2024 , prepare an income statement. Complete this question by entering your answers in the tabs below. For the period July 1 to December 31, 2024, prepare a statement of stockholders' equity. All account balarices on July 1 were zero. Prepare a ciassified balance sheet as of December 31, 2021 . Note: Amounts to be deducted should be indicated by a minus sign