RWP10-1 (Static) Great Adventures Continuing Case (GL) Tony and Suzie have purchased land for a new camp. Now they need money to bulld 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 turned 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 during the remainder of 2025 Novenber 5 Iosve an additional 100,000 shares of common ntoek for $10 per ahare. Novenber 16 Purehase 10,000 shares of its own connoe stock (1.e., treasiry atoek) for $15 per share. Hovenber 24 Resell 4,000 shares of treasury atoek at $16 per abare. December 1 Declare a cash dividend on it common atoek of 511,400(50,10 per share) to al1 stockholders of recerd on Decenber 15 . Decenber 20 Pay the cash dividend declared on becenber I. becember 30 pay $800,000 for construction of new cabins and other facilities. The ontire expenditure is recorded in ehe buildinga account. Journal entrv worksheet Journal entry worksheet Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Unadjusted GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 \begin{tabular}{|l|} \hline Net Sales \\ \hline Gross Profit \\ \hline Operating Expenses: \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline$ \\ 0 \\ 0 \\ 0 \\ 0 \\ 0 \\ \hline \end{tabular} Total Operating Expenses Operating Income (Loss) RWP10-1 (Static) Great Adventures Continuing Case (GL) Tony and Suzie have purchased land for a new camp. Now they need money to bulld 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 turned 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 during the remainder of 2025 Novenber 5 Iosve an additional 100,000 shares of common ntoek for $10 per ahare. Novenber 16 Purehase 10,000 shares of its own connoe stock (1.e., treasiry atoek) for $15 per share. Hovenber 24 Resell 4,000 shares of treasury atoek at $16 per abare. December 1 Declare a cash dividend on it common atoek of 511,400(50,10 per share) to al1 stockholders of recerd on Decenber 15 . Decenber 20 Pay the cash dividend declared on becenber I. becember 30 pay $800,000 for construction of new cabins and other facilities. The ontire expenditure is recorded in ehe buildinga account. Journal entrv worksheet Journal entry worksheet Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Unadjusted GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 \begin{tabular}{|l|} \hline Net Sales \\ \hline Gross Profit \\ \hline Operating Expenses: \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|} \hline$ \\ 0 \\ 0 \\ 0 \\ 0 \\ 0 \\ \hline \end{tabular} Total Operating Expenses Operating Income (Loss)
