RWP10-1 (Static) Great Adventures Continuing Case (GL) 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 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: November 5 Issue an additional 100,000 shares of common stock for $10 per share. November 16 Purchase 10,000 shares of its own common stock (i.e., treasury stock) for $15 per share. November 24 Resell 4,000 shares of treasury stock at $16 per share. December 1 Declare a cash dividend on its common stock of $11,400 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 30 Pay $800,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. General Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 10 Record the issue of additional 100,000 shares of common stock for $10 per share. General Journal Debit Credit Note: Enter debits before credits. Date November 05 Record entry Clear entry Requirement View general journal > Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 Record the purchase of 10,000 shares of its own common stock (i.e., treasury stock) for $15 per share. Note: Enter debits before credits. Date November 16 General Journal Debit Credit Record entry Clear entry View general journal < Requirement General Ledger > Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Record the resale of 4,000 shares of treasury stock at $16 per share. 10 10 General Journal Debit Credit Note: Enter debits before credits. Date November 24 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 10 Record the declaration of $11,400 ($0.10 per share) cash dividend on its common stock to all stockholders of record on December 15. General Journal Debit Credit Note: Enter debits before credits. Date December 01 Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 6 7 8 9 Record the entry on December 15, the date of record. 10 10 General Journal Debit Credit Note: Enter debits before credits. Date December 15 Record entry Clear entry View general journal