Question: keep getting stuck with this. Please help- also there is no option for income summary Tony and Suzie see the need for a rugged all-terrain

keep getting stuck with this. Please help- also there is no option for income summary
keep getting stuck with this. Please help- also there is no option
for income summary 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 $15,200. They expect to use
the Suburban for five years and then sell the vehicle for $6,100.
The following expenditures related to the vehicle were also made on July
1, 2022 The company pays $2.600 to GEICO for a one-year insurance

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 $15,200. They expect to use the Suburban for five years and then sell the vehicle for $6,100. The following expenditures related to the vehicle were also made on July 1, 2022 The company pays $2.600 to GEICO for a one-year insurance policy . The company spends an extra $6.200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides . An additional $2,800 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 $2,000 for basic vehicle maintenance related to changing the oil replacing the windshield wipers, rotating the tires, and inserting a new air filter Journal entry worksheet 1 2 3 5 6 > Record the expenditures related to the vehicle on July 1, 2022. Note: The capitalized cost of the vehicle is recorded in the Equipment account. Journal entry worksheet > 1 1 2 3 4 6 5 Record the depreciation for vehicle purchased. Use straight-line depreciation. Journal entry worksheet 1 2

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