Question: Please help. I have entry options down below. Numbers automatically update in everything besides the general journal. *ENTRY OPTIONS!* Accounts Payable Accounts Receivable Accumulated Depreciation
Please help. I have entry options down below. Numbers automatically update in everything besides the general journal.








*ENTRY OPTIONS!*
- Accounts Payable
- Accounts Receivable
- Accumulated Depreciation
- Advertising Expense
- Allowance for Uncollectible Accounts
- Bad Debt Expense
- Buildings
- Cash
- Common Stock
- Cost of Goods Sold
- Deferred Revenue
- Delivery Expense
- Depreciation Expense
- Entertainment Expense
- Equipment
- Freight-In
- Gain
- Income Tax Expense
- Income Tax Payable
- Insurance Expense
- Interest Expense
- Interest Payable
- Interest Receivable
- Interest Revenue
- Inventory
- Land
- Legal Fees Expense
- Notes Payable
- Notes Receivable
- Postage Expense
- Prepaid Advertising
- Prepaid Insurance
- Prepaid Rent
- Purchase Discounts
- Purchase Returns
- Purchases
- Rent Expense
- Repairs and Maintenance Expense
- Retained Earnings
- Salaries Expense
- Salaries Payable
- Sales Allowances
- Sales Discounts
- Sales Returns
- Sales Revenue
- Service Fee Expense
- Service Revenue
- Supplies
- Supplies Expense
- Utilities Expense
- Utilities Payable
Great Adventures Problem AP6-1 (GL) (The following information applies to the questions displayed below.) Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from Kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2022. All watches are sold for $780 each. Jul. 17 Purchased 92 watches for $13,900 ($150 per watch) on account. Jul. 31 Sold 88 watches for $68, 640 cash. Aug. 12 Purchased 68 watches for $10,980 ($160 per watch) cash. Aug. 22 Sold 58 watches for $45,240 on account. Sep. 19 Paid for watches purchased on July 17. Sep. 27 Receive cash of $27,144 for watches sold on account on August 22. Oct. 27 Purchased 150 watches for $25,500 ($170 per watch) cash. Nov. 20 Sold 118 watches for $92,040 cash. 4 Purchased 128 watches for $23,040 ($180 per watch) on account. 8 Sold 68 watches for $53,040 on account. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $100 per watch. Dec. Dec. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab, assuming Suzie uses FIFO to account for inventory. Review the 'General Ledger' and the Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on December 31, 2022, in the 'General Journal tab. 3. Review the adjusted 'Trial Balance' as of December 31, 2022, in the Trial Balance' tab. 4. Prepare a multiple-step 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. Requirement General Journal > Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transactions View journal entry worksheet Ne Date General Journal Debit Credit 1 Jul 17 13,800 Inventory Accounts Payable 13,800 2 Jul 31 B8 640 Sales Revenue 38,640 3 Jul 31 Cost of Goods Sold 68,640 Inventory 68,640 4 Aug 12 10,880 Inventory Cash 10,830 N 5 Aug 22 45,240 Accounts Receivable Sales Revenue 45,340 N 6 Aug 22 45,240 Cost of Goods Sold Inventory 45,240 M 7 Sep 19 13,800 Account Payable Cash 13,800 N 8 Sep 27 27,1441 Cash Accounts Receivable 27,144 9 Oct 27 25,500 Inventory Cash 25,500 M 10 Nov 20 Cash 92,040 Sales Revenue 92,040 11 Nov 20 Cast of Good Sold 92,040 Inventory 92,040 N 12 Dec 04 23,040 Inventory Accounts Payable 23,040 N 13 Dec 05 53,040 Accounts Receivable Sales Revenue 53,040 14 Dec 08 53,040 Cost of Goods Sold Inventory 53,040 15 Dec 31 Cost of Goods Sold Inventory Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each joumal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-dosing balances wil appear for each account, based on your selection. Adjusted Date: Jul 17 to: Dec 31 General Ledger Account Cash Accounts Receivable Debit Credit No. Date Debit Credit No. Balance 37,190 68,640 45,240 2 4 7 agoga Jul 31 Aug 12 Sep 10 Sep 27 Oct 27 5 a 13 27,144 Balance 35,000 B3,240 56,00 109,136 Aug 22 Sep 27 Dec 08 10,880 13,000 53,040 105,830 94,950 81,150 108,21 B2,70 174,834 27,144 9 25,500 10 Nov 20 92,040 Inventory Debit No. Alewance for Uncollectible Accounts Date Debit Credit Jul 17 Balance No. Credit Balance 3.800 0 13,800 3 68,640 10,850 Jul 17 Jul 17 Jul 31 Aug 12 Aug 22 Oct 27 Nov 20 Dec 04 Dec 06 45,2401 13,800 (54,8401 (43,960 (80.2001 163,7001 (155,740) (132,7001 (185,7401 25,500 92,040 23,040 12 14 53,040 Equipment Debit Accumulated Depreciation Debi Credit No. Credit Balance No. Date Data Jul 17 Balance 31,000 59,000 17 Accounts Payable Debit Credit Interest Payable Debit Credit No. Data No. Data Jul 17 Balance 1,450 1 13,000 Jul 17 Jul 17 Sep 19 Dec 04 Balance 5,600 19,400 5,600 28,640 13,000 7 12 23,040 Income Tax Payable Debit Credit Notes Payable Debit Credit No. No. Data Jul 17 Balance 15,900 Data Jul 17 Balance 58,000 Common Stock Debit Retained Eamings Debit Credit No. Credit No. Balance Date Jul 17 Balance 25,090 Date Jul 17 36,950 Service Revenue Debit Credit Sales Revenue Debit Credit No. No. Date Jul 17 Balance 51,500 Balance 15 2 5 10 13 Jul 31 Aug 22 Nov 20 Dec 08 68,640 45,340 92,040 53,040 58,640 113,980 205,020 259,050 Sales Discounts Debit Credit Interest Revenue Debit Credit No. Date Balance No. Date Balance 190 17 17 Cest of Goods Sold Debit Credit Depreciation Expense Debit Credit No. Date Balance No. Date Jul 17 Balance 23,000 6 11 14 Jul 31 Aug 22 Now 20 Dec 08 68,640 45,240 92,040 53,040 88,640 113,880 205,020 258,950 Supplies Expense Debit Credit Salaries Expense Debit Credit No. Date Jul 17 Balance 1,900 No. Date Jul 17 Balance 38,000 Bad Debt Expense Debit Credit Interest Expense Debit Credit No. No. Date Jul 17 Balance 3,800 Date Jul 17 Balance 3 200 Rent Expense Debit Credit Income Tax Expense Debit Credit No. No. Date Jul 17 Balance 3,800 Date Jul 17 Balance 15,900 No. Date Jul 17 Insurance Expense Debit Credit Balance 6,200 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 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. Adjusted GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Debit Credit Cash Is 174,834 Accounts Receivable 109,136 Allowance for Uncollectible Accounts 3.600 Inventory 185,740 Equipment 59,000 Accumulated Depreciation 31.000 Accounts Payable 28,640 interest Payable 1.450 income Tax Payable 15,500 Notes Payable 58,000 Common Stock 26.000 Retained Earnings 38,960 Service Revenue 51,500 Sales Revenue 259,060 Sales Discounts 490 interest Revenue 190 Cast of Goods Sold 258,960 Depreciation Expense 23,000 Supplies Expense 1,500 Salaries Expense 38,000 Sad Debt Expense 2,800 interest Expense 3,200 Rent Expense 3,800 income Tax Expense 15,900 insurance Expense 6.2001 S 690 220 5 59,320 $ Requirement General General Income Jeumal Ledger Trial Balance Statement Balance Sheet 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. Adjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues Sales Revenue 259,050 0 0 259,050 0 Nat Sales $ 259,050 Gross Pro Operating Expense 0 0 o 0 o 0 0 Total Operating Expenses Operating Income (Loss) Income Before Income Taxes 259,050 ol 0 259,050 0 259,050 Net Income Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare a dassified 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 Adjusted Assets $ 0 Current Assets Cash Accounts Receivable Inventory 0 GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Liabilities Current Liabilis 174,834 109,136 (185,740) 0 0 Total Current Liable 0 98,230 Total Liabilities Stockholders' Equity 0 0 0 0 0 Total Current Assets Long-term Assets 0 0 0 0 0 0 Total Stockholders' Equity 98,230 Total Liabilities and Stockholders' Euly $ Total Assets 0 Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transactions View journal entry worksheet Ne Date General Journal Debit Credit 1 Jul 17 13,800 Inventory Accounts Payable 13,800 2 Jul 31 B8 640 Sales Revenue 38,640 3 Jul 31 Cost of Goods Sold 68,640 Inventory 68,640 4 Aug 12 10,880 Inventory Cash 10,830 N 5 Aug 22 45,240 Accounts Receivable Sales Revenue 45,340 N 6 Aug 22 45,240 Cost of Goods Sold Inventory 45,240 M 7 Sep 19 13,800 Account Payable Cash 13,800 N 8 Sep 27 27,1441 Cash Accounts Receivable 27,144 9 Oct 27 25,500 Inventory Cash 25,500 M 10 Nov 20 Cash 92,040 Sales Revenue 92,040 11 Nov 20 Cast of Good Sold 92,040 Inventory 92,040 N 12 Dec 04 23,040 Inventory Accounts Payable 23,040 N 13 Dec 05 53,040 Accounts Receivable Sales Revenue 53,040 14 Dec 08 53,040 Cost of Goods Sold Inventory 53,040 15 Dec 31 Cost of Goods Sold Inventory Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Each joumal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-dosing balances wil appear for each account, based on your selection. Adjusted Date: Jul 17 to: Dec 31 General Ledger Account Cash Accounts Receivable Debit Credit No. Date Debit Credit No. Balance 37,190 68,640 45,240 2 4 7 agoga Jul 31 Aug 12 Sep 10 Sep 27 Oct 27 5 a 13 27,144 Balance 35,000 B3,240 56,00 109,136 Aug 22 Sep 27 Dec 08 10,880 13,000 53,040 105,830 94,950 81,150 108,21 B2,70 174,834 27,144 9 25,500 10 Nov 20 92,040 Inventory Debit No. Alewance for Uncollectible Accounts Date Debit Credit Jul 17 Balance No. Credit Balance 3.800 0 13,800 3 68,640 10,850 Jul 17 Jul 17 Jul 31 Aug 12 Aug 22 Oct 27 Nov 20 Dec 04 Dec 06 45,2401 13,800 (54,8401 (43,960 (80.2001 163,7001 (155,740) (132,7001 (185,7401 25,500 92,040 23,040 12 14 53,040 Equipment Debit Accumulated Depreciation Debi Credit No. Credit Balance No. Date Data Jul 17 Balance 31,000 59,000 17 Accounts Payable Debit Credit Interest Payable Debit Credit No. Data No. Data Jul 17 Balance 1,450 1 13,000 Jul 17 Jul 17 Sep 19 Dec 04 Balance 5,600 19,400 5,600 28,640 13,000 7 12 23,040 Income Tax Payable Debit Credit Notes Payable Debit Credit No. No. Data Jul 17 Balance 15,900 Data Jul 17 Balance 58,000 Common Stock Debit Retained Eamings Debit Credit No. Credit No. Balance Date Jul 17 Balance 25,090 Date Jul 17 36,950 Service Revenue Debit Credit Sales Revenue Debit Credit No. No. Date Jul 17 Balance 51,500 Balance 15 2 5 10 13 Jul 31 Aug 22 Nov 20 Dec 08 68,640 45,340 92,040 53,040 58,640 113,980 205,020 259,050 Sales Discounts Debit Credit Interest Revenue Debit Credit No. Date Balance No. Date Balance 190 17 17 Cest of Goods Sold Debit Credit Depreciation Expense Debit Credit No. Date Balance No. Date Jul 17 Balance 23,000 6 11 14 Jul 31 Aug 22 Now 20 Dec 08 68,640 45,240 92,040 53,040 88,640 113,880 205,020 258,950 Supplies Expense Debit Credit Salaries Expense Debit Credit No. Date Jul 17 Balance 1,900 No. Date Jul 17 Balance 38,000 Bad Debt Expense Debit Credit Interest Expense Debit Credit No. No. Date Jul 17 Balance 3,800 Date Jul 17 Balance 3 200 Rent Expense Debit Credit Income Tax Expense Debit Credit No. No. Date Jul 17 Balance 3,800 Date Jul 17 Balance 15,900 No. Date Jul 17 Insurance Expense Debit Credit Balance 6,200 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 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. Adjusted GREAT ADVENTURES, INC. Trial Balance December 31, 2022 Account Title Debit Credit Cash Is 174,834 Accounts Receivable 109,136 Allowance for Uncollectible Accounts 3.600 Inventory 185,740 Equipment 59,000 Accumulated Depreciation 31.000 Accounts Payable 28,640 interest Payable 1.450 income Tax Payable 15,500 Notes Payable 58,000 Common Stock 26.000 Retained Earnings 38,960 Service Revenue 51,500 Sales Revenue 259,060 Sales Discounts 490 interest Revenue 190 Cast of Goods Sold 258,960 Depreciation Expense 23,000 Supplies Expense 1,500 Salaries Expense 38,000 Sad Debt Expense 2,800 interest Expense 3,200 Rent Expense 3,800 income Tax Expense 15,900 insurance Expense 6.2001 S 690 220 5 59,320 $ Requirement General General Income Jeumal Ledger Trial Balance Statement Balance Sheet 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. Adjusted GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 Revenues Sales Revenue 259,050 0 0 259,050 0 Nat Sales $ 259,050 Gross Pro Operating Expense 0 0 o 0 o 0 0 Total Operating Expenses Operating Income (Loss) Income Before Income Taxes 259,050 ol 0 259,050 0 259,050 Net Income Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare a dassified 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 Adjusted Assets $ 0 Current Assets Cash Accounts Receivable Inventory 0 GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Liabilities Current Liabilis 174,834 109,136 (185,740) 0 0 Total Current Liable 0 98,230 Total Liabilities Stockholders' Equity 0 0 0 0 0 Total Current Assets Long-term Assets 0 0 0 0 0 0 Total Stockholders' Equity 98,230 Total Liabilities and Stockholders' Euly $ Total Assets 0
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