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please help fill out only general journal Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by

please help fill out only general journal
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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, theyll 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 Greot Adventures. July 22 Because of the success of the firat mountain biking clinic, Tony and suzie holds another mountain biking July 24 Pay $750 to a local radio station for advertising to appear inmediately. A kayaking elinic will be held on Jaly 30 Auquat 10 , and attendees can pay $150 in advance or $200 on the day of the olinio. Tuly 30 Great Mdventures receives cash of $12,000 in advance from 80 kayakers for the upcoming kayak clinic. ugust 1 Theat Adventuren obtations oceur over the remainder of 2024. recently passed an initiative encouraging best loan for the company from the eity council, which has due in three year: and 6 annual interest is iness developtent related to outdoor activities. The loan fis due in three year#, and 61 annual interest in due each year on July 31. Nuguat 4 The conpany purehases 14 kayaks, paying $15,600 cash. August 10 Tony and suzie conduct the first kayak elinic. In addition to the $12, 000 that was received in advance from kayakers on July 30 , the coopany receives additional cash of $4,000 fron 20 new kayakera on the day August17August24September,1Toprovidebetterstorageofmountainbikenandkayakswhennotinuse,thecompanyrontsaBtorageshedoftheelinio,officemuppliesof$1,800purchanedonJuly4arepaidinfull.foroneyear,paying$3,120($260permonth)inadvance. Septenber 21 Tony and suzie conduct a roek-elimbing elinic. The company receives $13,600 cash. October 17 Tony and suzie conduct an orlenteering olinie. Participant practice how to understand a topographical October 17 Tony and suzie conduct an orienteering olinie. Partieipants practice hou to laderstand a topographical. race from checkpoint to eheckpoint thing a combination of moantain biking, kayaking, orienteering, trail running, and rock-dinioing skink. The tiret December 5 To heip organize and prosote the race, Tony hiren his college roommate, Vietor. vietor will be paid 540 in December 8. The company pays $1,800 to purehane a permit trom a batary will be paid after the race. December 12 recorded as a mincellaneous expense. December 12 The company purehasen racing supplien for $2,900 on account due in 30 days. Supplies inelude trophiea for the top-finiahing teamn in each category, promotional ohfrta, snack foods and drinks for participante, and Dencember 15 Tield markern to prepare the racecourthe. December 16 The dompariy pays Vietor's kalary of $1,600, fot of forty teams, and the race in held. December 31 The eoepany payn a diyidend of s3, 300, $1, 650 . December 31 Uning hin perifonal money, Tony purchanes a diamond ring for 55,100 . Tony nurpritiea suzie by proposing that they get married. Suzie accepte and they get marriedt they get married, Suzie aceepte and they get marriedt The following information relates to year-end adjusting entries as of December 31, 202.4. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $6,600. 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 $1,800 of office supplies purchased on July 4,$280 remains. December 16 The company pays victor's salary of $1,600. December 31 The company pays a dividend of $3,300 ( $1,650 to Tony and $1,650 to Suzie). December 31 Using his personal money, Tony purchases a diamond ring for $5,100. Tony surprises Suzie they get married. Suzie accepts and they get marriedl The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $6,600. 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 $1,800 of office supplies purchased on July 4,$280 remains. e. Interest expense on the $31,000 loan obtained from the city council on august 1 should be recorded. f. Of the $2,900 of racing supplies purchased on December 12,$210 remains. g. Suzie calculates that the company owes $13,800 in income taxes. Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first ad Journal entry worksheet Note: Enter debits beforecredits

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