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On July 1 , 2 0 2 4 , Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated The articles of
On July Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated
The articles of incorporation state that the corporation will sell shares of common stock for $ each. Each
share of stock represents a unit of ownership. Tony and Suzie will act as copresidents of the company. The
following business activities occur during July for Great Adventures.
The following information relates to yearend adjusting entries as of December
a Depreciation of the mountain bikes purchased on July and kayaks purchased on August totals $
b Six months' of the oneyear insurance policy purchased on July has expired.
c Four months of the oneyear rental agreement purchased on September has expired.
d Of the $ of office supplies purchased on July $ remains.
e Interest expense on the $ loan obtained from the city council on August should be recorded.
f Of the $ of racing supplies purchased on December $ remains.
g Suzie calculates that the company owes $ in income taxes.
Prepare an adjusted trial balance as of December Required information
The questions auto copied all except for the second and last one. Help would be very much appreciated!
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