Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $14,800. They expect to use the Suburban for five years and then sell the vehicle for $5,900. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,500 to GE/CO for a one-year insurance policy. - The company spends an extra \$5,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,700 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $1,800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $14,800. They expect to use the Suburban for five years and then sell the vehicle for $5,900. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,500 to GE/CO for a one-year insurance policy. - The company spends an extra $5,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,700 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $1,800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $14,800. They expect to use the Suburban for five years and then sell the vehicle for $5,900. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,500 to GE/CO for a one-year insurance policy. - The company spends an extra \$5,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,700 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $1,800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $14,800. They expect to use the Suburban for five years and then sell the vehicle for $5,900. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,500 to GE/CO for a one-year insurance policy. - The company spends an extra $5,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,700 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $1,800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection
