Transaction List for the General Journal:

1. Record the expenditures related to the vehicle on July 1, 2022. Note: The capitalized cost of the vehicle is recorded in the Equipment account.

2. Record the expenditure related to vehicle maintenance on October 22, 2022.

3. Record the depreciation for vehicle purchased. Use straight-line depreciation.

4. Record the expiration of prepaid insurance.

5. Record the closing entry for revenue accounts.

6. Record the closing entry for expense accounts.

I have figured out the solution for the past one, if you can help me with this one I would highly appreciate that.

Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. 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. Each journal entry is posted automatically to the general ledger. 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 1,2022 , for $14,000. They expect to use the Suburban for five years and then sell the vehicle for $5,500. The following expenditures related to the vehicle were also made on July 1, 2022: - The company pays $2,300 to GEICO for a one-year insurance policy. - The company spends an extra $5,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,500 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 22,2022 , the company pays $1,400 for basic vehicle maintenance related to changing the oll, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Thal Balance' tabs to see the effect of the transactions on the account balances. 2 . Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted 'Trial balance as of December 31,2022 , in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended December 31,2022 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2022 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab. Great Adventures Problem AP8-1 (GL) At the end of 2022, the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $32,800,6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31 . - Assume that $12,800 of the $32,800 loan discussed above is due next year. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,800 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $6,800. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the 'Trial Balance' as of December 31, 2022, in the 'Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31,2022 , in the 'Income Statement' tab. 4. Prepare a classified balance sheet as of December 31,2022 , in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 400 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 39,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 18,650 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,200 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Salaries Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 31,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bad Debt Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 3,100 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,330 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Rent Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 3,800 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Incorne Tax Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 15,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Insurance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 7.100 \\ \hline \end{tabular} Repairs and Maintenance Expense \begin{tabular}{|r|r|r|r|r|} \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 680 \\ \hline \end{tabular} General Journal Trial Balance > Case; Great Adventures General Ledger (Algo) i Prepare an income statement for the period ended December 31,2022. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. ase: Great Adventures General Ledger (Algo) i in the first account field.) 4 Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. 5 For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $6,800. 6 Record the closing entry for revenue accounts. 7 Record the closing entry for expense and loss accounts. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Ent in the first account field.) 1 Additional interest for five months needs to be accrued on the $32,800,6% loan obtained on August 1,2021. Recall that annual interest is paid each July 31 . 2 Assume that $12,800 of the $32,800 loan discussed above is due next year. 3 By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,800 during the year and recorded those as Deferred Revenue. 0,6% ach July 4 Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. Note : = journal entry has been entered Case: Great Adventures General Ledger (Algo) i \& Answer is not complete. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Requirec in the first account field.) Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. your seiection. Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31,2022 Income Statement Batines sheet ? Prepare a classified balance sheet as of December 31, 2022. Choose the appropriate accounts to complete the company's balance sheet The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. 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. Each journal entry is posted automatically to the general ledger. 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 1,2022 , for $14,000. They expect to use the Suburban for five years and then sell the vehicle for $5,500. The following expenditures related to the vehicle were also made on July 1, 2022: - The company pays $2,300 to GEICO for a one-year insurance policy. - The company spends an extra $5,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,500 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 22,2022 , the company pays $1,400 for basic vehicle maintenance related to changing the oll, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Thal Balance' tabs to see the effect of the transactions on the account balances. 2 . Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted 'Trial balance as of December 31,2022 , in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended December 31,2022 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2022 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab. Great Adventures Problem AP8-1 (GL) At the end of 2022, the following information is available for Great Adventures. - Additional interest for five months needs to be accrued on the $32,800,6% loan obtained on August 1, 2021. Recall that annual interest is paid each July 31 . - Assume that $12,800 of the $32,800 loan discussed above is due next year. - By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,800 during the year and recorded those as Deferred Revenue. - Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. - For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $6,800. 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Review the 'Trial Balance' as of December 31, 2022, in the 'Trial Balance' tab. 3. Prepare a multiple-step income statement for the period ended December 31,2022 , in the 'Income Statement' tab. 4. Prepare a classified balance sheet as of December 31,2022 , in the 'Balance Sheet' tab. 5. Record the closing entries in the 'General Journal' tab. \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 400 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Cost of Goods Sold } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 39,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 18,650 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,200 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Salaries Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 31,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bad Debt Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 3,100 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Interest Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 1,330 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Rent Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 3,800 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Incorne Tax Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 15,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Insurance Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 7.100 \\ \hline \end{tabular} Repairs and Maintenance Expense \begin{tabular}{|r|r|r|r|r|} \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 680 \\ \hline \end{tabular} General Journal Trial Balance > Case; Great Adventures General Ledger (Algo) i Prepare an income statement for the period ended December 31,2022. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. ase: Great Adventures General Ledger (Algo) i in the first account field.) 4 Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. 5 For sales of MU watches, Great Adventures offers a warranty against defect for one year. At the end of the year, the company estimates future warranty costs to be $6,800. 6 Record the closing entry for revenue accounts. 7 Record the closing entry for expense and loss accounts. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Ent in the first account field.) 1 Additional interest for five months needs to be accrued on the $32,800,6% loan obtained on August 1,2021. Recall that annual interest is paid each July 31 . 2 Assume that $12,800 of the $32,800 loan discussed above is due next year. 3 By the end of the year, $20,000 in gift cards have been redeemed. The company had sold gift cards of $27,800 during the year and recorded those as Deferred Revenue. 0,6% ach July 4 Great Adventures is a defendant in litigation involving a biking accident during one of its adventure races. The company believes the likelihood of payment occurring is probable, and the estimated amount to be paid is $14,800. Note : = journal entry has been entered Case: Great Adventures General Ledger (Algo) i \& Answer is not complete. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Requirec in the first account field.) Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. your seiection. Post-closing GREAT ADVENTURES, INC. Balance Sheet December 31,2022 Income Statement Batines sheet