PLEASE TELL ME WHAT IM MISSING

Jul. 1 Sell $10,000 of common stock to Suzie. Jul. 1 Sell $10,000 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,800 ($400 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,500 associated with incorporation. Jul. 4 Purchase office supplies of $1,800 on account. Jul. 7 Pay for advertising of $300 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $50 on the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $12,000 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $2,000 from 40 bikers. Tony conducts the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,300. Jul. 24 Pay $700 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $100 in advance or $150 on the day of the clinic. Jul. 30 Great Adventures receives cash of $4,000 in advance from 40 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6% annual interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $28,000 cash. Aug. 10 Twenty additional kayakers pay $3,000 ($150 each), in addition to the $4,000 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,500 cash. Aug. 24 Office supplies of $1,800 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $2,400 ($200 per month) in advance. Sep. 21 Tony conducts a rock-climbing clinic. The company receives $13, 200 cash. 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 $17,900 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 wins. The entry fee for each team is $500. Dec. 5 To help organize and promote the race, Tony hires his college roommate, 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. 8 The company pays $1,200 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. Dec. 12 The company purchase3 racing supplies for $2,800 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $20,000 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 $4,000 ($2,000 to Tony and $2,000 to Suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $4,500. 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 $8,000. 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, $300 remains. e. Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,800 of racing supplies purchased on December 12, $200 remains. g. Suzie calculates that the company owes $14,000 in income taxes. No Date General Journal Debit Credit 1 Jul 01, 2021 Cash 10,000 Common Stock 10,000 2 Jul 01, 2021 10,000 Cash Common Stock 10,000 3 Jul 01, 2021 Prepaid Insurance Cash 4,800 4,800 4 Jul 02, 2021 1,500 Legal Fees Expense Cash 1,500 5 Jul 04, 2021 1,800 Supplies (Office) Accounts Payable 1,800 6 Jul 07, 2021 300 Advertising Expense Cash 300 7 Jul 08, 2021 12,000 Equipment (Bikes) Cash > 12,000 8 Jul 15, 2021 2,000 Cash Service Revenue (Clinic) 2,000 9 Jul 22, 2021 2,300 Cash Service Revenue (Clinic) 2,300 10 Jul 24, 2021 700 Advertising Expense Cash Oo 700 11 Jul 30, 2021 Cash 4,000 Deferred Revenue 4,000 12 Aug 01, 2021 30,000 Cash Notes Payable 30,000 13 Aug 04, 2021 28,000 Equipment (Kayaks) Cash 28,000 14 Aug 10, 2021 Cash Deferred Revenue 3,000 4,000 15 Aug 17, 2021 10,500 Cash Service Revenue (Clinic) 10,500 16 Aug 24, 2021 1,800 Accounts Payable Cash 1,800 17 Sep 01, 2021 2,400 Prepaid Rent Cash 2,400 18 Sep 21, 2021 13,200 Cash Service Revenue (Clinic) 13,200 19 Oct 17, 2021 17,900 Cash Service Revenue (Clinic) 17,900 20 Dec 01, 2021 No Journal Entry Required 21 Dec 05, 2021 No Journal Entry Required 22 Dec 08, 2021 Miscellaneous Expense 1,200 Cash 1,200 23 Dec 12, 2021 2,800 Supplies (Racing) Accounts Payable 2,800 24 Dec 15, 2021 20,000 Cash Service Revenue (Racing) 20,000 25 Dec 16, 2021 2,000 Salaries Expense Cash 2,000 26 Dec 31, 2021 Dividends 4,000 Cash 4,000 26 Dec 31, 2021 4,000 Dividends Cash 4,000 27 Dec 31, 2021 No Journal Entry Required 28 Dec 31, 2021 8,000 Depreciation Expense Accumulated Depreciation >> 8,000 29 Dec 31, 2021 2,400 Insurance Expense Prepaid Insurance 2,400 30 Dec 31, 2021 800 Rent Expense Prepaid Rent 800 31 Dec 31, 2021 1,500 Supplies Expense (Office) Supplies (Office) 1,500 32 Dec 31, 2021 750 Interest Expense Interest Payable O 750 33 Dec 31, 2021 2,600 Supplies Expense (Racing) Supplies (Racing) 2,600 34 Dec 31, 2021 14,000 Income Tax Expense Income Taxes Payable 14,000 35 Dec 31, 2021 Service Revenue (Clinic) Service Revenue (Racing) 52,900 20,000 35 Dec 31, 2021 Service Revenue (Clinic) Service Revenue (Racing) 52,900 20,000 36 Dec 31, 2021 35,750 1,500 2,600 2,000 750 800 Retained Earnings Supplies Expense (Office) Supplies Expense (Racing) Salaries Expense Interest Expense Rent Expense Miscellaneous Expense Legal Fees Expense Insurance Expense Income Tax Expense Advertising Expense Depreciation Expense 1,200 1,500 2,400 14,000 1,000 8,000 37 Dec 31, 2021 4,000 Retained Earnings Dividends 4,000 Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to be reported on the income statement. Select 'Adjusted' from the dropdown, which will then populate the balances in those accounts from the trial balance. Post-closing GREAT ADVENTURES, Inc. Income Statement December 31, 2021 Revenues: Service Revenue (Clinic) Service Revenue (Racing) -7,000 $ -7,000 Total Revenues Expenses: Advertising Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Miscellaneous Expense Supplies Expense (Office) Supplies Expense (Racing) Salaries Expense Rent Expense OOOOOOOOOOO Total Expense INet Income $ -7,000 Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet 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. Post-closing - Assets Current assets: Cash Prepaid Insurance Supplies (Office) Supplies (Racing) Prepaid Rent Dates: Jul 01, 2021 to: Dec 31, 2021 GREAT ADVENTURES, Inc. Balance Sheet December 31, 2021 Liabilities Current liabilities: 64,200 Accounts Payable 2,800 2,400 Interest Payable 750 300 Income Taxes Payable 14,000 200 0 1,600 Total current liabilities 17,550 0 Notes Payable 30,000 Total liabilities: 47,550 Stockholders' Equity 12,000 Common Stock 20,000 28,000 Retained Earnings (46,750) (8,000) 0 Total stockholders' equity (26,750) $ 100,700 Total liabilities and stockholders' equity $ 20,800 68,700 Total current assets Long-term assets: Equipment (Bikes) Equipment (Kayaks) Accumulated Depreciation 33 BELO OOO Total assets Statement of SE Balance Sheet >