RWP2-1 (Algo) Great Adventures Problem (GL) Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking. mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures incorporated The articles of incorporation state that the corporation will sell 21,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great Adventures. July 1 sell $10,500 of coeneson stoek to suzie. July 1 sell $10,500 of coeson stoek to Tony. July 1 Purchase a one-year insurance policy for $5,0a0 ( $490 per sonth) to cover injuries to partieipants during outdoor elinies. Juiy 2 pay legal tees of 51,200 asaoeiated with incorporation. July 4 Purchase of fice supplies of $1,700 on account. July 7 Pay 5210 to a local newspaper for advertiaing to appear impediately tor an upeoning mountain biking olinie to be beld on July 15 . Attendeea will be charged $50 the day of the elinie. July 8 Purchase 10 mountain bikes, paying $11,900 cash. July 15 on the day of the clinic, Great Adventures receives cash of $3,000 trom 60 bikers. Tony conducta the mountain biking elinic. July 22 Because of the success of the first mountain biking clinie, Tony holds another mountain biking olinic and the company receives $3,400. July 24 Pay $710 to a local radio station for advertining to appear immediately. A kayaking elinie will be beld on hugust 10 , and attendees can pay $110 in advance or $160 on the day of the clinic. July 30 Great Adventures receives cash of $8,800 in advance from 80 kayakers for the upcosing kayak elinie. RWP2-1 (Algo) Great Adventures Problem (GL) Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking. mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures incorporated The articles of incorporation state that the corporation will sell 21,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great Adventures. July 1 sell $10,500 of coeneson stoek to suzie. July 1 sell $10,500 of coeson stoek to Tony. July 1 Purchase a one-year insurance policy for $5,0a0 ( $490 per sonth) to cover injuries to partieipants during outdoor elinies. Juiy 2 pay legal tees of 51,200 asaoeiated with incorporation. July 4 Purchase of fice supplies of $1,700 on account. July 7 Pay 5210 to a local newspaper for advertiaing to appear impediately tor an upeoning mountain biking olinie to be beld on July 15 . Attendeea will be charged $50 the day of the elinie. July 8 Purchase 10 mountain bikes, paying $11,900 cash. July 15 on the day of the clinic, Great Adventures receives cash of $3,000 trom 60 bikers. Tony conducta the mountain biking elinic. July 22 Because of the success of the first mountain biking clinie, Tony holds another mountain biking olinic and the company receives $3,400. July 24 Pay $710 to a local radio station for advertining to appear immediately. A kayaking elinie will be beld on hugust 10 , and attendees can pay $110 in advance or $160 on the day of the clinic. July 30 Great Adventures receives cash of $8,800 in advance from 80 kayakers for the upcosing kayak elinie
