need help on wrong answers

Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activibes such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person tears 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, 2024. Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated The articles of incorporation state that the corporation will sell 32.000 shares of common stock for \$f each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great. Adventures. July 1 purchase a one-year insurance policy foe 54,600 (5400 per nonth) fo coveri injuriesita purticlpants during outdoon) 2uly 2 . Fay legal fees of $1,500 assoclated with Inicorparat ian. Julpi in Purchsse office rupplies of $1,000 in sccount. 3 uly 15 on the day of the clieic, Great Adventures recel. 3uly 22. Becsuen biking clinde. July 22. Becouse of the success of the fiest mountain brking clinic, Tony ahd suzie hold anather nountalin bsising clific and the company recelyes. 523000 . Wuly so treat Adyentures retelyes total cash of $150 on the day of the cifing Ausiest onniel intertit is die rach year on luly 31. Augirs : The conpony purchoins 14 kyaks, paying 170, 000 essh, B eimindingobor wiledie. December 1 Tooy and Suzie decide to hold the conpany's first adventure race on December 15., Roar-person teams will race from checkposnt to checkpoint using a combination of nountain biking, kayaking, orienteering, trail running. and eqck. climbing skills. The first team in each category to complete all checkpoints in order wios. Ihejentry fee for ech tean is $500. Deceeber 5 To help arganize and promote the race, Tony hires his collene reomnote, Vfetor, Victor will be paid 9 in salary for each teen that cospetes in the race. His salary will be paid after the race. Decenber is the conpany pays. 51,200 to purchase a pernit from a state park where the race will be held. The anount is recorded as a niscellinheous expense. Decenber 12 The conpany purchases racing supples for $2, co9 on account due in jo doys. 5upplies include.ierophies for the topy. finiching teans in naeh category, prenotional, shirts, snack foods and drinks faf portisipants. and fatid aarkers to prepoce the raccourse. December 15 The company recelves $20,000 cosh from a total of forty teans, and the race Is hed. 2 . Decenber 16 The company pays Victor's salary of 52,000 . married. Suzle accepts and they get maceitdi The following information relates to year-end adjusting entries as of December 31.2024 a. Deprecation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals s8. oO0. b. Six months of the one-year insurance policy purchased on July I has expred. c. Four moriths of the one-year rental agreement purchased on September 1 has expired. d. Or the $1.800 of office supplies purchased on July 4,$300 remains: e. interest expense on the 590000 loan obtained from the city council on August fshould be recorded 1. Di the $2.800 of racing supplles purchased on December 12.$200 remains. 9. Sirze Colculates that the company owes $14,000 in income taxes The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately balance shect. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Choose the appropriate accounts to be reported on the income statement. Select 'Adjusted' from the dropdown, then populate the balances in those accounts from the trial balance. (x) Answer is not complete. Using the dropdown buttons, select the item that accurately describes the values that either increase or decr balance indicated, Select 'Adjusted' from the dropdown, which will then populate the balances in those accounts frc balance. Tony and Supie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing o customer bose, theyli 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. crienteering, and trall running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024. Tony and Suzze organize their new company as a corporation, Great Adventures incorporated The articles of incorporation state that the corporation will sell 32,000 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 business activities occur during July for Great Adventures: July 1 5el1 510,000 of comon stock to Suzie. July 1 Sell $10,000 of comon stock to Tony. July 1 Purchase a one:year insurance policy for 44,800 (\$40e per month) toccover infuries to participants during outdoor clinies. July 2. Pay legal fees of $1,500 asseciated with incorporation. Zvly 4 Purchase office supplies of $1, geo on account. july 7. Day \$300 to a local newipaper for advertising to appear innediately for an upcoming anountain biking clinic to be held on July 15. At tendees whil be charged $50 the day of the clintc. Zuly 5 Fyrchase, te mountein bikes, paytng $12,000 cashs. 2uly 15 On the day of the clinic, Great Adventures receives cash of $2, aoo in total froe a0 bikers. Tony and suzie:conduct the July 22 gecause of the success of the first mountain biking clinic. Tory and Suzie hold another mountain biking clinic and the 3uly. 30 and attendees can pay $100 in advance or $150 on the day of the cllintc. Zuly. 39 Great Adventures receives total cash of $4,000 in advance fron 40 kayakers for the upcosing kayak clinic. The follouing transactions occur over the reeaindee of 2024 , Augost, 1 Great Adventures obtains a 530,000 low-interest loan for the company frot the city councfi, which has recently passed an inltiative encouraging business development related to outdoor activities. The loan is due in three years. and 6x. August 4 The coppany parchases 14 kayaks, paytne $28, ooe cash. Augest 10 . Tony and Suzte conduct the first Wayak clinicy in addition to the s4, 0oo that was received in advance from kayakers an Mueyst 17 Joly 3e4 the coppany recelves additfonal cash of $3,000 from 20 neu kayakers on the day of the cliaic. Augast 24. Tony and surfe condoct a second kayak clinic, and the coepany recelves 510,500 cath. pay ing 52,400 (\$200 per month) in odyance. Septrahtri 21 Tony and Sutle conduct a rockeciehing clinlc. the coppany receives \$13,20e cash. october 17 Tony and suzie conduct an orlenteering ellate. particleants proctice how to ynderstand a topographical map. read an alt lecter, use a compes, and or ient, throunh hesylly wooded areas. the coepany recelves $17, Wio cash. Oecenber 1 Tony and suade. dectde io hold the corpany? first advegture rate on Deceaber 15. Four-pierson teans inill race fron theckgoint to checkpoint weing a combination, of nountain blking, koyaking. nrienteerfog, trail running. and rocks. cliabing aki11., the firit test in each category to coequtete all checkpoints in order. Wiss. the entry fee for each tane 114850 . Orcrybes. eoch teas that ceepetes in the cace. Mis salary will be pold ofter the pace. finishins teans in each catebpry. pecostional shirts, ansek feods and drinks for gorticipants, and field arkers to: prepere the racecourse. Dereaber is The cencary recelvet 520,000 cath fros a total of forty teass, and the race is held. Deceeter 10. The cpepany pay1 yictor'1 aalary of 12 , 000. December 31 the conouny payi o dividend of $4,000(52,000 to teny and 52,000 to 54zff). Pecester 31. Using his persenal maney. Tony purchases a diasond ring for st, so0. Tony surprites sugle by proposing that they iset narried, Suzte accepts and they get nacrlodi. December 1 Tony and Suzie decide. to hold the company's first adventure race on Decenber- is. Four.person teans will race from, checkpoint to checkpoint using a combination of nountain biking, kayaking. orienteer ing train. The entry fee for each college roonete. Vietor. Victor wi11 be paid $50 in solary for tean is 5500. each tean that conpetes in the race. His salary wild be pajd after the race. 2r. 32.809 on account due in 30 days. Supplies include trophies for the topDecenber 12 The compeny purchases racing supplies for 52,800 on account due in 39 days. Supplies include trophies for the top. finishing tesms in each category, proeotional shirts, snack foods and deinks for participants, and field markers to prepare the racecourse. Deceeber 15 The coepany receives 520,000cash from a total of forty teams, and the roce is held. Deceeber 16 . The company pays victor's salary of $2,000. Deceober 31 The coepany pays a dividend of $4,000($2,000 to tony and $2,000 to 5uz1e). Deceaber 31 Using his personal money. Tony purchases a dianond ring for 54,500 . Tony surprises suzie by proposing that they get married. Suzle accepts and they get married! 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. So months of the oneyear 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 suppiles 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 racing supplies purchased on December 12,$200 remains. 9. Suzie calculates that the company owes $14,000 in income taxes