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NEED HELP! Will give a like to all help if complete. #1 is correct. Need the values for the rest and the journal entry for
NEED HELP! Will give a like to all help if complete.
Great Adventures Problem AP10-1 (GL) Tony and Suzle 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 106,000 shares of common stock for $10 per share. November 16 Purchase 10,680 shares of its own common stock (1.c., treasury stock) for $18 per share. December 1 Declare a cash dividend on its connon stock of $12,000 (s.10 per share) to all stockholders of record on December 20 Pay the cash dividend declared on December 1. December 31 Pay $815,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. December 15. Requirerfient General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal tab. Review the 'General Ledger and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the 'Trial Balance as of December 31, 2022, in the Trial Balance' tab. 3. Prepare a multiple-step Income statement for the period ended December 31, 2022, In the 'Income Statement tab. 4. Prepare a classified balance sheet as of December 31, 2022, in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. General Journal > Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event in the first account field.) View transaction list Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select in the first account field.) View transaction list Journal entry worksheet Prepare the closing entry for the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal View transaction list Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet ces 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 list View journal entry worksheet Debit Credit No 1 Date Nov 05 1,060,000 General Journal Cash Common Stock Additional Paid-in Capital 106,000 954.000 2 Nov 16 Treasury Stock Cash 3 Nov 24 Cash Treasury Stock Additional Paid-in Capital 4 Dec 01 Dividends Dividends Payable 5 Dec 20 No Transaction Recorded . 6 Dec 30 Buildings Cash 7 Dec 31 No Transaction Recorded #1 is correct. Need the values for the rest and the journal entry for #5, #7, #8, #9
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