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Please list out all the assets. liabilities, long-term assets, long-term liabilities, and stockholders equity. RWP7-1 (Algo) Great Adventures Continuing Case (GL) Tony and Suzie see
Please list out all the assets. liabilities, long-term assets, long-term liabilities, and stockholders equity.
RWP7-1 (Algo) Great Adventures Continuing Case (GL) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,250 to GE/CO for a one-year insurance policy. - The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,450 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,300 for basic vehicle maintenance related to changing the oll, replacing the windshleld wipers, rotating the tires, and inserting a new air filter. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. RWP7-1 (Algo) Great Adventures Continuing Case (GL) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,250 to GE/CO for a one-year insurance policy. - The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,450 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,300 for basic vehicle maintenance related to changing the oll, replacing the windshleld wipers, rotating the tires, and inserting a new air filter. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selectionStep by Step Solution
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