please help me with the post closing entries of retained earning to this T-account!

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 24.000 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 512,000 of common stock to Surie. Jul. 1 Sell $12,000 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4.920 5410 per month) to cover injuries to participants during outdoor clinics. jul. 2 Pay legal fees of $1,300 associated with incorporation Jul. Purchase office supplies of 51.980 on account. Jul. 7 Pay for advertising of sama to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $70 on the day of the clinic Jul. Purchase 1 nountain bikes, paying $13.700 cash. Jul. 15 on the day of the clinic, Great Adventures receives cash of $3,500 from 50 bikers. Tony conducts the mountain biking clinic. Sul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic Jul. 24 Pay 1990 to a local radio station for advertising to appear inmediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $16e on the day of the clinic. Jul. Great Adventures receives cash of 57,700 in advance from 70 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a 341,000 low-interest toan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The Loan is oor in three years, and annual interest is due each year on July 31. Aug. 4 The company purchases 14 kwyks. paying $16.820 cash. Aug. 10 Twenty additional kayakers pay $3,200 sig each), in addition to the 37.700 that was paid in advance on Daly 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tory conducts a second kayak clinic, and the company receives $12,200 cash. Aug. 24 OTTICE Solles of $1,900 purchased on July 4 are paid in full. Sep. 1. To provide better storage of bikes and kayaks when not in use, the company rents a storage shed for one year, paying 54,440 530 month in advance Sep. 21 Tory conducts arock-climbing clinic. The company receives 514,600 cash. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical MacBook Air . 8: 00 SO 23 21 3 FE : TE . S 4 % 5 O > & 7 1 0 2 3 8 9 W E E 20 T Y Y U I O P : S D F G H J J K L > C V 00 N M . Help Save & ject Worth 30 points Dec. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map. read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19,900 cash. 1 Tomy decides to hold the company's first adventure race on December 15. Four-person teams will race fron checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first tean in each category to complete all checkpoints in order wins. The entry fee for each team is $570. Dec. 5 To help organize and promote the race, Tony hires his college roomate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. Dec. The company pays $1,600 to purchase a permit from a state park where the race will be held. The amount is recorded as . miscellaneous expense. Dec. 12 The company purchases racing supplies for 12.00 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for Dec. 15 The company receives $22,000 cash tron a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $2,000. Dec. 31 The company pays a dividend of $3,700 151,858 to Tony and $1,850 to Surie). Dec. 31 Using Mis personal money, Tony purchases a diamond ring for $5,100. Tony surprises Suzie by proposing that they get married. Surse accepts and they get 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 $7.900. 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 $1900 of office supplies purchased on July 4, $380 remains o. Interest expense on the $41000 loan obtained from the city council on August I should be recorded. for the $2,300 of racing supplies purchased on December 12, 5160 remains. Suzie calculates that the company owes $14.900 in income taxes 7. Post the closing entries of retained earnings to the account Retained Earnings GV MacBook Air 882 bul DD 30 Pa . oa FT 12 14 A - # 3 $ 4 % 5 & 7 2 6 8 9 0 W E 20 T Y U 1 O P S D F G H J L Stred Help Save ject Worth 30 points participants, and field markers to prepare the racecourse. Dec. 15 The company receives 522,800 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $2,000. Dec. 31 The company pays a dividend of $3,700 151,850 to Tony and $1,650 to Suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $5,100. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get 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 $7.900 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 $1900 of office supplies purchased on July 4, $380 remains e Interest expense on the $41,000 loan obtained from the city council on August 1 should be recorded t of the $2,300 of racing supplies purchased on December 12, $160 remains. 9 Suzie calculates that the company owes $14,900 in income taxes 7. Post the closing entries of retained earnings to the T-account. Retained Earnings Beg Bal Endal A MacBook Air Ro 3 888 Fd DD 09 F2 DU FB . FA 3 A * 2 3 4 5 6 & 7 ) O 8 9 W E R T Y U O S D F G H J J L 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 24.000 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 512,000 of common stock to Surie. Jul. 1 Sell $12,000 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4.920 5410 per month) to cover injuries to participants during outdoor clinics. jul. 2 Pay legal fees of $1,300 associated with incorporation Jul. Purchase office supplies of 51.980 on account. Jul. 7 Pay for advertising of sama to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $70 on the day of the clinic Jul. Purchase 1 nountain bikes, paying $13.700 cash. Jul. 15 on the day of the clinic, Great Adventures receives cash of $3,500 from 50 bikers. Tony conducts the mountain biking clinic. Sul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic Jul. 24 Pay 1990 to a local radio station for advertising to appear inmediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $16e on the day of the clinic. Jul. Great Adventures receives cash of 57,700 in advance from 70 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a 341,000 low-interest toan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The Loan is oor in three years, and annual interest is due each year on July 31. Aug. 4 The company purchases 14 kwyks. paying $16.820 cash. Aug. 10 Twenty additional kayakers pay $3,200 sig each), in addition to the 37.700 that was paid in advance on Daly 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tory conducts a second kayak clinic, and the company receives $12,200 cash. Aug. 24 OTTICE Solles of $1,900 purchased on July 4 are paid in full. Sep. 1. To provide better storage of bikes and kayaks when not in use, the company rents a storage shed for one year, paying 54,440 530 month in advance Sep. 21 Tory conducts arock-climbing clinic. The company receives 514,600 cash. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical MacBook Air . 8: 00 SO 23 21 3 FE : TE . S 4 % 5 O > & 7 1 0 2 3 8 9 W E E 20 T Y Y U I O P : S D F G H J J K L > C V 00 N M . Help Save & ject Worth 30 points Dec. Oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map. read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19,900 cash. 1 Tomy decides to hold the company's first adventure race on December 15. Four-person teams will race fron checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first tean in each category to complete all checkpoints in order wins. The entry fee for each team is $570. Dec. 5 To help organize and promote the race, Tony hires his college roomate, Victor. Victor will be paid $50 in salary for each team that competes in the race. His salary will be paid after the race. Dec. The company pays $1,600 to purchase a permit from a state park where the race will be held. The amount is recorded as . miscellaneous expense. Dec. 12 The company purchases racing supplies for 12.00 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for Dec. 15 The company receives $22,000 cash tron a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $2,000. Dec. 31 The company pays a dividend of $3,700 151,858 to Tony and $1,850 to Surie). Dec. 31 Using Mis personal money, Tony purchases a diamond ring for $5,100. Tony surprises Suzie by proposing that they get married. Surse accepts and they get 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 $7.900. 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 $1900 of office supplies purchased on July 4, $380 remains o. Interest expense on the $41000 loan obtained from the city council on August I should be recorded. for the $2,300 of racing supplies purchased on December 12, 5160 remains. Suzie calculates that the company owes $14.900 in income taxes 7. Post the closing entries of retained earnings to the account Retained Earnings GV MacBook Air 882 bul DD 30 Pa . oa FT 12 14 A - # 3 $ 4 % 5 & 7 2 6 8 9 0 W E 20 T Y U 1 O P S D F G H J L Stred Help Save ject Worth 30 points participants, and field markers to prepare the racecourse. Dec. 15 The company receives 522,800 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Victor's salary of $2,000. Dec. 31 The company pays a dividend of $3,700 151,850 to Tony and $1,650 to Suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $5,100. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get 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 $7.900 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 $1900 of office supplies purchased on July 4, $380 remains e Interest expense on the $41,000 loan obtained from the city council on August 1 should be recorded t of the $2,300 of racing supplies purchased on December 12, $160 remains. 9 Suzie calculates that the company owes $14,900 in income taxes 7. Post the closing entries of retained earnings to the T-account. Retained Earnings Beg Bal Endal A MacBook Air Ro 3 888 Fd DD 09 F2 DU FB . FA 3 A * 2 3 4 5 6 & 7 ) O 8 9 W E R T Y U O S D F G H J J L