Please complete all 27 Journal Entries please. Thank you!

Please also complete income statement, statement of stockholders equity, balance sheet, post closing trial balance, adjusted trial balance, t accounts. Thank you!

Required information [The following information applies to the questions displayed below.] Tony and Suzie 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 a customer base, they'll 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, 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 37,000 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 Sel1 $18,50 of comon stock to Suzie. July: 1 Sel1 $18,500 of comen stock to Tony. July 1 Purchase a one-year insurance policy for $5,760($480 per month) to cover injuries to participants during outdoor cinics. July 2 Pay legal fees of $1,800 associated with incorporation. July 4 Purchase office supplies of $1,300 on account. July 7 Pay $360 to a local newspaper for advertising to appeor inmediately for an upcoming mountain biking clinic July 8 Purchase 10 mountain bikes, paying $19,100 cash. July 15 On the day of the clinic, Great Adventures receives cash of $2,000 in total fram 50 bikers. Tony and Suzie conducts the mountain biking clinic. July 22 Because of the success of the finst mountain biking clinic, Tony and suzie holds another mountain biking 3ulinic and the company recelves $2,350. July 24 Pay $900 to a local radio station fon advertising to appear imnediately. A kayaking clinic will be held on July 30 August 10, and attendees can pay $120 in advance or $170 on the day of the clinic. The following transactions occur over the remainder of 2024 . August 1 Great Adventures obtains a $48,060 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loar is due in three years, and 6x annual interest is due each year on July 31 . August 4 The company purchases 14 kayaks, paying $21,600 cash. August 10 Tony and Suzle conduct the first kayak clinic. In addition to the $7,200 that was received in advance from kayakers on July 30 , the conpany receives additional cash of $3,40e from twenty new kayakers on the day of the clinic. August 17 Tony and Suzle conducts a second kayak clinic, and the company receives $11,700 cash. August 24 Office supplies of $1,300 purchased on july 4 are paid in ful1. september 1 to provide better storoge of mountoin bikes and kayaks when not in use, the company rents a storage shed for one year, paying $4,560 (\$38e per month) in advance. September 21 tony and suzie conduct a rock-clinbing clinic. The company receives $14, 3ee cash. october 17 Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographicel map, cead an altimeter, use a compass, and orlent through heavily wooded areas. The company recelves. $19,290 cash. Deseaber I Tony and suzie decide ta hold the company's first adventure race on Decenber 15. Four. person teans will race from checkpoint to checkpoint using a combination of mountain biking, kayoking, orilenteecing. trali running, and rock-elimbing skilis. The first tean in each category to complete all checkpoints 10 onder wins. The entry fee for each teas is $560. December 5 To help organize and promote the race, Tony hires his college roomate, victor, victor will be poid sobe In Deceebee 8 - The fary for each teas that competes in the race. His salary uill be paid after the race. Deceaber 8 the company pays 81,600 to purchase a perait fron a state park where the race will be held. The anount is Deceetbe 12. The company purchases racinis supplies for $2,100 on account due in 30 days. Supplies include trophies for the topisinishing teans in each cotegory. proeotional shirts, inack foods and deinks for particlpants, and field markers to prepore the racecourse. oecember 15 the conpany recelves 222,400 cash fron a tatal of forty teass, and the race is held. Decenber 10 the company pays vietor's salary of 52,440 , December in the company peys. A Arvidend of 14,400($2,200 to tony and 12,200 to suzle). december 31 using his personal money. Tony purchases a diasond Fing for $3,600. Tony lurpertsea suzte by proposing that. they set married, sirite accepts and they set marriedt The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreclation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,500. b. Six months of the one-year insurance policy purchased on July 1 has expired. c. Fout months of the one-year rental agreement purchased on September 1 has expired. d Of the $1,300 of office supplies purchased on July 4,\$270 remains. e. Interest expense on the $48,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,100 of racing supplies purchased on December 12,$140 remains. 9. Suzie calculates that the company owes $13.100 in income taxes