RWP10-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below] Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank tumed them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity duting the remainder of 2025 : Noveaber 3 Issue an additional 102,000 shares of comon stock for ste pen share. Noventer 16 Purchase 10,200 shares of its oun comen stock (1.e.. treasury stock) for $16 per share. Novenber 24 Resel1 4,200 shares of treasury stock at \$17 per share. Decenber 1 Declare a cash dividend on its comnon stock of $11,600 ( $0.10 per share) to all stockholders of record on Decreber 15. Decenber 29 May the cash dividend declared on Decenber 1. Decenber je Pay 5805,000 for construction of new cabins and other facilities. the entire expenditure is recorded in the nuildings account. RWP10-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1. Record each of these transactionis. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Record the issue of additional 102,000 shares of common stock for $10 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 10,200 shares of its own common stock (i.e., treasury stock) for $16 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 4,200 shares of treasury stock at $17 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of $11,600 ( $0.10 per share) cash dividend on its common stock to all stockholders of record on December 15. Note: Enter debits before credits. Journal entry worksheet Record the entry on December 15 , the date of record. Note: Enter debits before credits. Journal entry worksheet Record the payment of cash dividend declared on December 1. Note: Enter debits before credits. Journal entry worksheet Record the payment of $805,000 for construction of new cabins and other facilities. Note: Enter debits before credits
