Please fill out the balance sheet for Great Adventures, Inc. thank you!
Great Adventures Problem AP10-1 (GL) Tony and Suzie 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 authorize&$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 10,600 shares of its own common stock (1.0., treasury stock) for $18 per share. November 24 Resell 4,600 shares of treasury stock at $19 per share. December Declare a cash dividend on its common stock of $12,000 $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 $815,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. 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. Post-closing Dates: Nov 05 to: Dec 31 General Ledger Account Cash Accounts Receivable Debit Credit No. Debit Credit Dato Nov 05 Balance 50,600 1,080,000 2 Date Nov 05 Nov 05 Nov 16 Nov 24 Dec 20 Dec 30 190,800 Balance 76,726 1,136,726 945,926 1,033,326 1,021,326 206,326 87,400 12,000 815,000 6 Post-closing Dates: Nov 05 to: Dec 31 GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Credit $ Debit 206,326 50,600 2,460 7,600 960 560,000 68,180 25,850 815,000 21.400 900 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Prepaid Insurance Land Equipment Accumulated Depreciation Buildings Accounts Payable Interest Payable Income Tax Payable Deferred Revenue Notes Payable (Long-term) Notes Payable (Current) Contingent Liability Warranty Liability Common Stock Treasury Stock Additional Paid-in Capital Retained Earnings Total 14,800 5,600 531,174 54,075 12 600 4,600 126,000 108,000 958,600 58,607 1,816,666 1,816,666 $ Post-closing Dates: Nov 05 to: Dec 31 GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: of o o 01 o o OPERA 0 Total Current Liabilities op 0 Total Liabilities Total Current Assets Long-term Assets: Stockholders' Equity o Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity $
