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, 2021, 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 2022: November 5 Issue an additional 136,000 shares of common stock for $10 per share. November 16 Purchase 13,600 shares of its own common stock (1.6., treasury stock) for $33 per share. November 24 Resell 7,600 shares of treasury stock at $34 per share. December 1 Declare a cash dividend on its common stock of $15,000 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. pay $890,000 for construction of now cabins and other facilities. The entire expenditure in recorded in the December 31 Buildings account. General General Requirement Journal Income Ledger Trial Balance 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.) View transaction lit View Journal entry worksheet No Date General Journal Credit Debit 1,360,000 1 Nov 05 Cash Common Stock 1,360,000 2 Nov 16 Treasury Stock Cash 448,800 448,800 3 Nov 24 258.400 Cash Treasury Stock Additional Paid.in Capital 250,800 7,600 4 Dec 01 15,000 Dividends donde un ml Journal entry worksheet 2 3 4 5 6 7 8 9 es Record the issue of additional 136,000 shares of common stock for $10 per share. Note: Enter debits before credits. Date General Journal Credit Debit 1,360,000 Nov 05 Cash Common Stock 1,360,000 Record entry Clear entry View general Journal Journal entry worksheet Record the purchase of 13,600 shares of its own common stock (I.e., treasury stock) for $33 per share. Note: Enter debits before credits. Date General Journal Credit Debit 448,800 Nov 16 Treasury Stock Cash 448,800 Record entry Clear entry View general Journal Journal entry worksheet Record the resale of 7,600 shares of treasury stock at $34 per share. Note: Enter debits before credits. Date General Journal Credit Debit 258,400 Nov 24 Cash Treasury Stock Additional Pald-in Capital 250,800 7,600 Record entry Clear entry Vlow general Journal Journal entry worksheet Record the payment of cash dividend declared on Dec. 1. Note: Enter debits before credits. Date Debit Credit General Journal No Journal Entry Required Dec 20 Record entry Clear entry View general Journal Journal entry worksheet Record the payment of $890,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. Note: Enter debits before credits. Date Credit General Journal Dividends Payable Cash Debit 1,500 Dec 30 1,500 Record entry Clear entry View general Journal Journal entry worksheet 2 5 6 8 9 > Prepare the closing entry for the revenue accounts. Note: Enter debits before credits. Date General Journal Credit Debit 890,000 Dec 31 Buildings Cash 890,000 Record entry Clear entry View general Journal Journal entry worksheet Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, or post-dosing balances will appear for each account, based on your selection Unadjusted Dates: Nov 05 to: Dec 30 GREAT ADVENTURES, INC Income Statement For the Period Ended December 31, 2022 0 0 0 Net Sales 0 $ Gross Profit Operating Expense 0 0 0 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 0 0 o $ Trial Balance Balance Sheet > Muildings account. Requirement General Journal General Ledger Thal Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets - Liabilities + Equity. Each esset and liability account is reported separately on the balance sheet. The unadjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Nov 05 to: Dec 30 GREAT ADVENTURES, INC Balance Sheet December 31, 2022 Assets Llabilities Current Assets Current Liabilities: $ $ 0 0 Cash 0 1,238,614 0 0 0 0 0 0 0 0 0 0 0 0 0 Total Current Liabides 0 0 0 0 0 1,238,614 Total Current Assets Long-term Assets Buildings Total Liabilities Stockholders' Equity Notes Payable (Long-term) 807,695 0 0 0 0 0 0 Total Stockholders' Equity $ 1.238,614 Total Liabilities and Stockholders' Equity 807,695 807,695 Total assets $
