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lets try this again! i suck and need help thank you! Great Adventures Problem AP5-1 (GL) Tony and Suzie are ready to expand Great Adventures
lets try this again! i suck and need help thank you!
Great Adventures Problem AP5-1 (GL) Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More). Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 6% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations. Jan. 24 Great Adventure purchases ootdoor gear such as ropes, hots, harness Come, and other since equipment for $5,200 cash. Yeb. 25 Mr. Kendall Boy Scout troop participates in a one-day Adventure. Normally. Tony would charge group or this site ), 700, but he wants to encourage kids to exercise more and enjoy the outdoor she charge the group only $3,200. eat Adventuros provides there wervices on account. Pub. 20 The boy cout troop pays the roll amount owed to the quickt discount Mar. 19 Anos Management to employees participate in a one-day adventure. Cat dure provide vin on account for 56,200. And Reynolds agree to pay within 30 dayo. Mar. 27 Reynolds pays the full amount owed, on the quick-payment discount. Apt. Several from the KIA toe oncide to participate in a Tdventure. They pay 6, 100, and that is scheduled for the following week. hor. 14 TEH adventure hold forbers of the wind ur. 30 Myers Manufacturing participates in TM adventure. Great Adventures provides service count for 6.00 and Hyres to pay within 30 D. May Yes Manufacturing facts to pay the amount owed within the patie period and to son a three-sot. note receivable to replace the ti cont receivable Jan. 15 overal groups participate in avtores dret ventures provide services - Stor 375,000 then with payment din July Consider the following information as of June 30, 2022 Suzie estimates uncollectible accounts to be 5% of accounts receivable (which does not include the $6,600 note receivable from Myers Manufacturing) Prepare the odjusting entry for uncollectible accounts Accrue one month of interest on the note receivable from Myers Manufacturing Journal entry worksheet Suzie estimates uncollectible accounts to be 5% of accounts receivable (which does not include the $6,600 note receivable from Myers Manufacturing). Prepare the adjusting entry for uncollectible accounts. Note: Enter debits before credits Debat Credit Date Jun 30 Account Title Bad Debt Expense Allowance for Uncollectible Accounts Record entry Clear entry View general journal Journal elvorksheet Record the closing entry for the revenue accounts. Note: Enter debits before credits Account Title Bate Jun 30 Debit Credit Record entry Clear entry View general Journal Paurent Gianlleder > W rain Journry worksheet 10 11 12 13 19 > Record the closing entry for the expense accounts Note: Enter det before credits Date Account Title Debit Credit Jun 30 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sh Choose the appropriate accounts to complete the company's income statement. S will then populate the balances in those accounts from the adjusted trial balance. Unadjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended June 30, 2022 Revenue: $ 0 0 0 O Total Revenue $ 0 Expense: 0 0 0 0 0 0 0 0 Total Expense 0 $ 0 Step by Step Solution
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