prepare a balance sheet

1 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, 2022, for $12,000. They expect to use the Suburban for five years and then sell the vehicle for $4,500, The following expenditures related to the vehicle were also made on July 1, 2022: 11.11 points 023822 The company pays $1,800 to GEICO for a one-year Insurance policy. The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides An additional $2,000 is spent on a deluxe roof rack and a trailer hitch, Skipped Book 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, 2022, the company pays $400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers. rotating the tires, and inserting a new air filter References Requirement General Journal General Trial Balance Income Statement Ledger 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 GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Liabilities Current Liabilities Assets Current Assets