Tony and Suzie purchased land costing $520,000 for a new camp in January 2014. 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 another million dollars, 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 two classes of stock authorized: 9%, $10 par preferred and $1 par value common.

When the company began on July 1, 2012, Tony and Suzie each purchased 16,500 shares of $1 par value common stock at $1 per share. The following transactions affect stockholders equity during 2014, its third year of operations:

Jul.	2	Issue an additional 107,000 shares of common stock for $15 per share.
Sep.	10	Repurchase 10,800 shares of its own common stock (i.e., treasury stock) for $19 per share.
Nov.	15	Reissue 5,600 shares of treasury stock at $20 per share.
Dec.	1	Declare a cash dividend on its common stock of $134,800 ($1 per share) to all stockholders of record on December 15. The dividend is payable on December 31.

3. value:

10.00 points Required information

Required:

1.	Record each of these transactions.(Omit the "$" sign in your response.)

Date	General Journal	Debit	Credit
Jul. 2, 2014	(Click to select)Dividends payableCommon stockCashAccounts payableDividendsRetained earningsTreasury stockAdditional paid-in capital
	(Click to select)Dividends payableRetained earningsCashDividendsAccounts payableTreasury stockAdditional paid-in capitalCommon stock
	(Click to select)Common stockTreasury stockDividends payableCashAdditional paid-in capitalRetained earningsDividendsAccounts payable
Sep. 10, 2014	(Click to select)CashCommon stockAdditional paid-in capitalDividendsAccounts payableRetained earningsDividends payableTreasury stock
	(Click to select)CashTreasury stockAccounts payableCommon stockAdditional paid-in capitalDividends payableRetained earningsDividends
Nov. 15, 2014	(Click to select)CashTreasury stockDividendsDividends payableAccounts payableRetained earningsAdditional paid-in capitalPreferred stock
	(Click to select)Treasury stockCashPreferred stockDividendsAdditional paid-in capitalDividends payableAccounts payableRetained earnings
	(Click to select)Preferred stockTreasury stockDividendsCashDividends payableAccounts payableRetained earningsAdditional paid-in capital
Dec. 1, 2014	(Click to select)DividendsAdditional paid-in capitalPreferred stockAccounts receivableRetained earningsCashDividends payableAccounts payable
	(Click to select)Additional paid-in capitalDividends payablePreferred stockCashAccounts receivableDividendsRetained earningsAccounts payable
Dec. 31, 2014	(Click to select)DividendsTreasury stockPreferred stockAdditional paid-in capitalDividends payableCashAccounts payableRetained earnings
	(Click to select)Accounts receivableTreasury stockAdditional paid-in capitalRetained earningsCashDividendsPreferred stockDividends payable

References eBook & Resources WorksheetDifficulty: HardCheck my work

4. value:

10.00 points Required information

2.

Great Adventures has net income of $180,000 in 2014. Retained earnings at the beginning of 2014 was $170,000. Prepare the stockholders equity section of the balance sheet for Great Adventures as of December 31, 2014.(Amounts to be deducted should be indicated with minus sign. Omit the "$" sign in your response.)

GREAT ADVENTURES, INC. Balance Sheet (Stockholders Equity Section) December 31, 2014
Stockholders' equity:
(Click to select)Retained earningsPreferred stockCommon stockTreasury stockAdditional paid-in capital	$
(Click to select)Preferred stockRetained earningsTreasury stockAdditional paid-in capitalCommon stock
Total paid-in capital
(Click to select)Retained earningsTreasury stockAdditional paid-in capitalCommon stockPreferred stock
(Click to select)Preferred stockCommon stockAdditional paid-in capitalRetained earningsTreasury stock
Total stockholders' equity	$

References eBook & Resources WorksheetDifficulty: Hard