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, 2024, Tony and Suzle 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 2025 : Novenber 5 Issue an additional 140,000 shares of combon stock for $10 per share. November is Purchase 14,000 shares of its own comon stock (1.e.e treasury stock) for $35 per share. November 24 Resell 8,000 shares of treasury stock at $36 per share. December 1 Declare a cash dividend on its coanon stock of $15,400 ( $0.10 per share) to all stockholders of record on Decenber 15 . December 20 Pay the cash dividend declared on Decenber 1. Decenber 30 Pay $900,030 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. Choose the appropriate accounts to be reported on the income statement. The unadjusted or post-closing balances will appear for each account, based on your selection. 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, 2024, Tony and Suzle 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 2025 : Novenber 5 Issue an additional 140,000 shares of combon stock for $10 per share. November is Purchase 14,000 shares of its own comon stock (1.e.e treasury stock) for $35 per share. November 24 Resell 8,000 shares of treasury stock at $36 per share. December 1 Declare a cash dividend on its coanon stock of $15,400 ( $0.10 per share) to all stockholders of record on Decenber 15 . December 20 Pay the cash dividend declared on Decenber 1. Decenber 30 Pay $900,030 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. Choose the appropriate accounts to be reported on the income statement. The unadjusted or post-closing balances will appear for each account, based on your selection
