Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Question and information can be found in the first image; The trial balance that needs to be filled out is in the second ory.
The Question and information can be found in the first image; The trial balance that needs to be filled out is in the second
ory. FIIC FITUWHY VUSHICOS OLLVILCO ICPICSCHILD OUHL VI UWIICI . IVITY OF JULIC WHOLEOS LUPIDUCIIS VIUC L occur during July for Great Adventures. Jul. 1 Sell $19,500 of common stock to Suzie. Jul. 1 Sell $19,500 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,800 ($400 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,000 associated with incorporation. Jul. 4 Purchase office supplies of $1,700 on account. Jul. 7 Pay $240 to a local newspaper for advertising to appear immediately for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $60 the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $11,100 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $3,000 from 50 bikers. Tony conducts the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $3,680. Jul. 24 Pay $840 to a local radio station for advertising to appear immediately. A kayaking clinic will be held on August 10, and attendees can pay $110 in advance or $168 on the day of the clinic. Jul. 30 Great Adventures receives cash of $7,700 in advance from 70 kayakers for the upcoming kayak clinic. 3. Prepare a trial balance. (The items in the Trial Balance should be grouped as follows: Assets, Liabilities. Stockholders' Equity Revenue and Expenses.) GREAT ADVENTURES, INC. Trial Balance July 31, 2021 Accounts Debit Credit Totals Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started