thats all the information i got thats why im confused
Post-closing GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues: $ 0 0 0 0 Net Sales Olo 0 $ Gross Profit Operating Expenses 0 0 0 0 0 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 0 0 Income Before Income Taxes 0 0 $ 0 Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Liabilities Assets Current Assets Cash Current Liabilities: 89,190 Deferred Revenue 0 0 Warranty Liability 0 25,800 0 0 4.800 0 0 0 0 0 0 0 0 0 Total Current Liabilities 30,600 0 0 30,600 89, 190 Total Liabilities Total Current Assets Long-term Assets: Stockholders' Equity 0 0 0 0 0 0 0 0 Total Stockholders' Equity 89,190 Total Liabilities and Stockholders'Equity $ 30,600 Total Assets Income Statement Balance sheet At the end of 2022, the following information is available for Great Adventures, . Additional interest for five months needs to be accrued on the $30,800, 6% loan obtained on August 1, 2021. Recall that annual Interest is paid each July 31. Assume that $10,800 of the $30,800 loan discussed above is due next year. . By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $25,800 during the year and recorded those as Deferred Revenue Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12.800. . For sales of Mu watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $4,800 General General Income Requirement Journal Trial Balance Balance Sheet Ledger Statement Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's 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 Assets View transaction list View journal entry worksheet Debit No Credit General Journal Date 770 1 Dec 31 Interest Expense Interest Payable 770 10.800 2 Dec 31 Notes Payable (Long-term) Notes Payable (Current) 10,800 3 Dec 31 Deferred Revenue Sales Revenue 12,800 4 Dec 31 12,800 4,800 4,800 5 Dec 31 Warranty Expense Warranty Liability 6 Dec 31 No Transaction Recorded 7 Dec 31 Allowance for Uncollectible Accounts Warranty Expense General Ledger > T 1 2 3 4 5 CO 6 7 Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $12,800. Note: Enter debits before credits. Debit Credit Date General Journal 12,800 Dec 31 12,800 View general journa Clear entry Record entry General Ledger > 2222 Statem... Sheet Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Post-closi GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Debit Credit Cash $ 89,190 Accounts Receivable 50,800 Allowance for Uncollectible Accounts 2,480 Inventory 7.800 Prepaid Insurance 980 Equipment 68,160 Accumulated Depreciation 26,050 Accounts Payable 21,600 Interest Payable 770 Income Tax Payable 14,900 Deferred Revenue 25,800 Notes Payable (Current) 10,800 Notes Payable (Long-term) 20,000 Warranty Liability 4,800 Common Stock 20,000 Retained Earnings 33,850 Service Revenue 44,900 Sales Revenue 108,000 Sales Discounts 390 Interest Revenue 200 Cost of Goods Sold 38,9001 Depreciation Expense 17,650 Supplies Expense Salaries Expense 26,000 2,600 Bad Debt Expense Interest Expense 1.900 2,800 Rent Expense 14,900 Income Tax Expense 6.100 Insurance Expense 480 Repairs and Maintenance Expense 4,800 Warranty Expense Total 334,150 $ 334,150 700
