Tony and Suzie graduate from college in May 2021 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 Myt 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of Incorporation state that the corporation wilsel 37000 shares of common stock for Sleach Each share of stock represents a unit of ownership Tory and Sule will act as co-presidents of the company. The following transactions occur from July through December vel1 Sell 110,50 of me te Jul. Bell 518.5 of contacto Tony i. 1 Purse one-year the policy for $4.40 (5370 per month to cover injuries to participants during our clinica 31. 2 ray legal toes of 11.10 solated with incorporation al 4 Nase office supplies of $1.500 count el. 7 Pay for advertising of 124 telesleger for animal in linie to be held on Poly 5. Mindes will be charged 570 n the day of the is. al se 10 metais s. 510.000 cash. Ml. 1 On the day of the elite. Creat Miventer receive cash of $4,200 from sobre o condote them bielinie Ml. 12 dece of the most the mountains, Tony held the main ing sie and the company receives 34.650, M. 34 y 5450 teradation for winter dately. A aking his will held 10. And we can 130 dance $100 the day of the line M. Great Myers receivescaal of 17.00 vance from for the pace. . 1 Great Adventure obtain 534,010 low-interests for the company from the city, which has recently panitiative courage develled to wide. The land in the years, and anal later de scheerly 31. 4 The company purch 14 kayaks. 515,4 cash 10 sty additional repay ), 112). It to the 17.00 that we paid indely 30, the day of the alla. Ty the teskayakini 17 Tony cand kayak eline and the core 10,00 cash 24 ore pe of $1.500 puha Sy are paid tep: 1 to wide better war of days whether aware the forme year. peyi $3,130 per me Sep 21 Tony controlling is the core 554.00 h Oct. 17 Tony Starting to and third alter, we come, and it will then 19.00 Dee. 1 o decide to hold the company's entre 1. Fourtwiller checkpoint that wing online robi skill the title silinder in the eye for each tea le 1550 To help organize and promote the race hire Necoller, Vietor Victor will be paid in ary for them in the wild there 11.10 te where there will Md. The Miscella et. The store pinkite kalho da fue partite and tied de Supplies include this for the ar to preh De 15 The relatihad DedThe View 13.00 Theo 44.4.2013.20 el. the per for $4,400. Won that they tid. cepts they The following information relate to you and using tries as of December 2021 Depreciation of the mountain bike purchased on and kayaks purchased on August 46.440 b. Son of the one year insurance policy purchased only the expired c. Four months of the one year agreement purchased on September the expired d. of the 1500 of office suis purchased on 4, 5260 remains e Interest expert on the W.000 loan obtained from the city council on August should be recorded Lor the $2.500 of racing supplies purchased on December 12. 120 remains Sure calculates that the company owe $0.500 in income taxes. Journe Geren Ledger Statement
