es Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and...

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es 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 $12,800. They expect to use the Suburban for five years and then sell the vehicle for $4,900. The following expenditures related to the vehicle were also made on July 1, 2025: • The company pays $2,000 to GEICO for a one-year insurance policy. • The company spends an extra $3,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. • An additional $2,200 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 $800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 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. Unadjusted Requirement No. Trial Balance 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. Unadjusted No. No. No. No. Date July 01 General Journal Date July 01 Date July 01 Date July 01 Date Allowance for Uncollectible Accounts Debit Credit General Ledger Cash Debit Equipment Debit Credit Credit Accounts Payable Debit Credit Income Tax Payable Debit Credit Balance General Ledger Account Income Statement 83,390 Balance 2,800 Balance 59,120 Balance 21,600 Balance No. No. No. No. Balance Sheet No. Date July 01 Date July 01 Date July 01 Date July 01 Date Accounts Receivable Debit Inventory Debit Credit Credit Accumulated Depreciation Debit Interest Payable Debit Credit Credit Long-term Notes Payable Debit Credit Balance 54.000 Balance 7,400 Balance 26,000 Balance 950 Balance Requirement General Journal General Ledger Trial Balance Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Equipment Accumulated Depreciation Accounts Payable Interest Payable Income Tax Payable Long-term Notes Payable Common Stock Retained Earnings Service Revenue Sales Revenue Interest Revenue Sales Discounts Income Statement The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Balance Sheet Account Title GREAT ADVENTURES, INCORPORATED Trial Balance October 22, 2025 www S Debit 83,390 54,000 7,400 59,120 390 Credit 2,800 26,000 21,600 950 14,900 38,000 21,740) 34,450 46,500 116,000 140 General Requirement Journal Unadjusted Revenues: Net Sales General Ledger Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balan will appear for each account, based on your selection. Trial Balance Gross Profit Operating Expenses: GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 Income Statement Balance Sheet Current Assets General Journal Requirement 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. Unadjusted Total Current Assets Long-term Assets: Total Assets General Ledger Assets Trial Balance Income Statement Balance Sheet GREAT ADVENTURES, INCORPORATED Balance Sheet December 31, 2025 Current Liabilities: Long-term Liabilities: Total Current Liabilities come Statement Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity es 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 $12,800. They expect to use the Suburban for five years and then sell the vehicle for $4,900. The following expenditures related to the vehicle were also made on July 1, 2025: • The company pays $2,000 to GEICO for a one-year insurance policy. • The company spends an extra $3,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. • An additional $2,200 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 $800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 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. Unadjusted Requirement No. Trial Balance 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. Unadjusted No. No. No. No. Date July 01 General Journal Date July 01 Date July 01 Date July 01 Date Allowance for Uncollectible Accounts Debit Credit General Ledger Cash Debit Equipment Debit Credit Credit Accounts Payable Debit Credit Income Tax Payable Debit Credit Balance General Ledger Account Income Statement 83,390 Balance 2,800 Balance 59,120 Balance 21,600 Balance No. No. No. No. Balance Sheet No. Date July 01 Date July 01 Date July 01 Date July 01 Date Accounts Receivable Debit Inventory Debit Credit Credit Accumulated Depreciation Debit Interest Payable Debit Credit Credit Long-term Notes Payable Debit Credit Balance 54.000 Balance 7,400 Balance 26,000 Balance 950 Balance Requirement General Journal General Ledger Trial Balance Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Equipment Accumulated Depreciation Accounts Payable Interest Payable Income Tax Payable Long-term Notes Payable Common Stock Retained Earnings Service Revenue Sales Revenue Interest Revenue Sales Discounts Income Statement The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Balance Sheet Account Title GREAT ADVENTURES, INCORPORATED Trial Balance October 22, 2025 www S Debit 83,390 54,000 7,400 59,120 390 Credit 2,800 26,000 21,600 950 14,900 38,000 21,740) 34,450 46,500 116,000 140 General Requirement Journal Unadjusted Revenues: Net Sales General Ledger Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balan will appear for each account, based on your selection. Trial Balance Gross Profit Operating Expenses: GREAT ADVENTURES, INCORPORATED Income Statement For the Period Ended December 31, 2025 Income Statement Balance Sheet Current Assets General Journal Requirement 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. Unadjusted Total Current Assets Long-term Assets: Total Assets General Ledger Assets Trial Balance Income Statement Balance Sheet GREAT ADVENTURES, INCORPORATED Balance Sheet December 31, 2025 Current Liabilities: Long-term Liabilities: Total Current Liabilities come Statement Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity

Answer rating: 100% (QA)

Lets start by recording the transactions in the general journal and then posting them to the general ledger After that well prepare the unadjusted trial balance income statement and balance sheet 1 Ge... View the full answer