Only the General Ledger.
The Accounting Cycle General Ledger Case #4(Algo) Saved Help Save & Exit Submit Check my work Great Adventures Problem AP10-1 (GL) 25 points 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 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. eBook ASK References 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 136,000 shares of common stock for $10 per share. November 16 Purchase 13,600 shares of its own common stock (i.e., treasury stock) for $33 per share. November 24 Resell 7,600 shares of treasury stack at $34 per share. December 1 Declare a cash dividend on its common stock of $15,000 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 31 Pay $890,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. Requirement Regulrement General Journal se General Ledger Trial Balance sincome Trial Balance Income Statement balans Balance Sheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each journal entry is posted automatically to the general ledger. The unadjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Nov 05 to: Dec 30 General Ledger Account Cash Accounts Receivable Debit Credit No. Debit Credit No. Date Nov 05 Balance 70,514 Date Nov 05 Balance 53,600 Inventory No. Allowance for Uncollectible Accounts Date Debit Credit Nov 05 No. Debit Credit Balance 2,760 Date Nov 05 Balance 10,600 Land Prepaid Insurance Debit Credit No. No. Date Debit Credit Date Nov 05 Balance 1,260 Balance 860,000 Nov 05 Accumulated Depreciation Equipment Debit No. Credit No. Date Debit Credit Date Nov 05 Balance 99,080 Balance 28,850 Nov 05 The Accounting Cycle General Ledger Case #4(Algo) Saved Help Save & Exit Submit Check my work Great Adventures Problem AP10-1 (GL) 25 points 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 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. eBook ASK References 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 136,000 shares of common stock for $10 per share. November 16 Purchase 13,600 shares of its own common stock (i.e., treasury stock) for $33 per share. November 24 Resell 7,600 shares of treasury stack at $34 per share. December 1 Declare a cash dividend on its common stock of $15,000 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 31 Pay $890,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. Requirement Regulrement General Journal se General Ledger Trial Balance sincome Trial Balance Income Statement balans Balance Sheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each journal entry is posted automatically to the general ledger. The unadjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Nov 05 to: Dec 30 General Ledger Account Cash Accounts Receivable Debit Credit No. Debit Credit No. Date Nov 05 Balance 70,514 Date Nov 05 Balance 53,600 Inventory No. Allowance for Uncollectible Accounts Date Debit Credit Nov 05 No. Debit Credit Balance 2,760 Date Nov 05 Balance 10,600 Land Prepaid Insurance Debit Credit No. No. Date Debit Credit Date Nov 05 Balance 1,260 Balance 860,000 Nov 05 Accumulated Depreciation Equipment Debit No. Credit No. Date Debit Credit Date Nov 05 Balance 99,080 Balance 28,850 Nov 05
