please help! and thank you!

[The following information applies to the questions displayed below.) Tony and Suzie graduate from college in May 2021 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, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 38,000 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 transactions occur from July 1 through December 31. Jul. 1 Sell $19,000 of common stock to Suzie. Jul. 1 Sell $19,000 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $5,640 ($470 per month) to cover injuries to participants during outdoor clinta Jul. 2 Pay legal fees of $1,600 associated with incorporation. Jul. 4 Purchase office supplies of $1,600 on account. Jul. 7 Pay for advertising of $350 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $30 on the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $18,300 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $2,400 from 80 bikers. Tony conduct the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking alinic and the company receives $2,750. Jul. 24 Pay $900 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $120 in advance or $170 on the day of the clinic. Jul. 30 Great Adventures receives cash of $7,200 in advance from 60 kayakers for the upcoming kayak clinic: Aug. 1 Great Adventures obtain a $33,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The Toan is due in three years, and 65 annual interest is due each year on July 31. Aug. 4 The company purchases 14 kayak, paying $24,700 caan. Aug. 10 Twenty additional kayakers pay $3,400 ($170 cach), in addition to the $7,200 that was paid in advance on July 30, on the day of the elinie. Tony conduct the firat kayak clinic. Aug. 17 Tony conduct a second kayak clinic, and the company receives $12,300 canh. Aug. 24 orrice supplies of $1,600 purchased on July are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shod for one year, paying $3,600 ($300 per month) in advance. Sep. 21 Tony conducts a rock-climbing clinic. The company receives $13, 400 cash. Oct. 12 Tony conducts an orienteering clinic. Participante practice how to understand a topographical trap, read an altimeter, une a company and orient through heavily wooded areas. The company receive $18, 600 cash. Hintura em 1 Dec. recently passed an initiative ancouraging business development related to outdoor activities. The loan is due in three years, and annual interest is duo each year on July 31. Aug The company purchases 14 kayaks, paying $24,700 cash. Aug. 10 Twenty additional kayakers pay $3,400 ($170 each, in addition to the 57,200 that was paid in advance on July 30, on the day of the clinic. Tony conduct the first kayak clinic Aug. 17 Tony conducts a second kayak clinic, and the company receives $12,300 cash. Aug. 24 office supplies of $1,600 purchased on July 1are paid in full. Sop. 1 to provide better storage of mountain bikes and kayaks when not in use, the company ronts storago shed for one year, paying 83, 600 ($300 per month) in advance. Sep. 21 Tony conducta a rock-climbing clinic. The company receives $13,400 cash. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map. read an altimeter, une a compass, and orient through heavily wooded areas. The company received $18, 600 cash. Dec 1 Tony decides to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wint. The entry to for each team in $500. 5. To help organize and promote the raco, Tony hiros his college roommate, Victor. Victor will be paid $50 in salary for each team that compates in the race. His salary will be paid after the race. Dec. 8. The company pays $1,200 to purchase a permit from a state park where the race will be bold. The amount is recorded as a miscellaneous expense. Dec. 12. The company purchases racing supplied for $2,900 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack food and drinks for participants and told markers to prepare the racecourse Dec. 15 The company receives $23,200 canh from a total of forty teamy and the race in hold. Dec. 16 The company pays Victoria salary of $2,000 Doc. 31 The company pays a dividend of $3,300 ($1,650 to Tony and $1,650 to suzie) Doc. 31 Using his personal money, Tony purchases a diamond ring for $4,600. Tony surprise Suzie by proponing that they got married. Suzie accepts and they got married! The following information relates to year-end adjusting entries as of December 31, 2021. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,200. b. Six months of the one-year Insurance policy purchased on July 1 has expired. c. Four months of the one year rental agreement purchased on September 1 has expired. d. Of the $1,600 of office supplies purchased on July 4, $270 remains e. Interest expense on the $35,000 loan obtained from the city council on August 1 should be recorded 1. Of the $2,900 of racing supplies purchased on December 12, $160 remains g. Suzie calculates that the company owes $14,900 in income taxes. 4. Prepare an adjusted trial balance as of December 31, 2021. GREAT ADVENTURES, Inc. Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Prepaid Insurance Prepaid Rent Supplies (Office) Supplies (Racing) Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Prepaid Insurance Prepaid Rent Supplies (Office) Supplies (Racing) Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation Accounts Payable Income Tax Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue (Clinic) Service Revenue (Racing) Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Miscellaneous Expense Rent Expense Salries Expense Supplies Expense (Office) Supplies Expense (Racing) Totals $ 0 $ 0