Great Adventures Problem AP10-1 (GL)

Help Save & EX Cher Great Adventures Problem AP10-1 (GL) 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, 2021, Tony and Suzie 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 2022: November 5 Issue an additional 116,000 shares of common stock for $10 per share. November 16 Purchase 11,600 shares of its own common stock (1.0. treasury stock) for $23 per share. November 24 Resell 5,600 shares of treasury stock at $24 per share. December Declare a cash dividend on its common stock of $13,000 $0.10 per share) to all stockholders of record on December December 15. December 20 Pay the cash dividend deelared on December 1. Pay $840,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the December) Bildings account. Requirement General Journal General Ledger Trial Balance Trial Balance Income Statement Balance Sheet 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. Post-closing Dates: Nov 05 to: Dec 31 GREAT ADVENTURES, INC. Income Statement Prev 1 of 1 !!! Next OwWat corrector incorrect for the work you have to 266,800 Nov 16 266,800 Treasury Stock Cash 134,400 Nov 24 Cash Treasury Stock Additional Paid-in Capital 128,800 5,600 13,000 Dec 01 13,000 Dividends Dividends Payable 13,000 Dec 20 13,000 Dividends Payable Cash 840,000 Dec 30 840,000 Buildings Cash 1,160,000 Dec 31 134,400 Interest Revenue Sales Revenue 13,000 13,000 Dec 31 Retained Earnings Dividends General Ledger >