X AccessUH s Connect X + education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Felearning.uh.edu%252Fwebapps%252 - Administracio Fine DocuWare Phttps://login.pingo Art Travel Complain Refunds US Depar. Problem - Manual Posting - 5e 6 Saved Required information Great Adventures Problem AP3-1 The following information applies to the questions displayed below) Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1.2021. Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of Incorporation state that the corporation will sell 27.000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 Jul. 1 Sell $13,500 of common stock to Suzle. Jul 1 Sell $13,500 of common stock to Tony. Jul 1 Purchase a one-year Insurance policy for $4,200 (5350 per month) to cover injuries to participants during outdoor clinics Sul 2 Pay legal fees of $1,900 associated with incorporation ul. 4 Purchase office supplies of $1,500 on account. Jul. 7 Pay for advertising of $230 to local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 on the day of the clinic. Oul. & Purchase 10 mountain bikes, paying $14,200 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $2,400 from 60 bikers. Tony conducts the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,85e. Jul 24 Pay $830 to a local radio station for advertising to appear indiately. A kayaking clinic will be held on August 10, and attendees can pay $150 in advance or $180 on the day of the clinic. Jul. 10 Great Adventures receives cash of $9,100 in advance from 70 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a 542,000 low-interest loan for the company from the city council, which has recently passed an Initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6% anual interest is due each year on July 31. Aug. The company purchases 14 kayaks, paying $17,000 cash Aug. 10 Twenty additional kayakers pay $3,600 ($180 each), In addition to the $9,100 that was paid in advance on July 30, the day of the clinic. Tory conducts the first kayok clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,900 cash. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for Sep. 21 Tony conducts rock climbing clinic. The company receives $14,400 cash. one year, paying $2,000 $300 par conth) in advance. oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read on Dec. Tony decides to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain bikin, kayaking, orienteering, trail running, and rock climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each te is $660. Dec. 5 To help organize and promote the race, Tony hires his college roomate, Victor, Victor will be paid $60 in an 1 3 27 4 2 5 7 8 6 Sell $13,500 of common stock to Surie. Record the appropriate journal entry Prox 1 Next 8 2 3 of 8 !! O BI Search 0 Budget; lois check portfolio LCRIA CAMAR public stage X AccessUH s Connect X + education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Felearning.uh.edu%252Fwebapps%252 - Administracio Fine DocuWare Phttps://login.pingo Art Travel Complain Refunds US Depar. Problem - Manual Posting - 5e 6 Saved Required information Great Adventures Problem AP3-1 The following information applies to the questions displayed below) Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1.2021. Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of Incorporation state that the corporation will sell 27.000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31 Jul. 1 Sell $13,500 of common stock to Suzle. Jul 1 Sell $13,500 of common stock to Tony. Jul 1 Purchase a one-year Insurance policy for $4,200 (5350 per month) to cover injuries to participants during outdoor clinics Sul 2 Pay legal fees of $1,900 associated with incorporation ul. 4 Purchase office supplies of $1,500 on account. Jul. 7 Pay for advertising of $230 to local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 on the day of the clinic. Oul. & Purchase 10 mountain bikes, paying $14,200 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $2,400 from 60 bikers. Tony conducts the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,85e. Jul 24 Pay $830 to a local radio station for advertising to appear indiately. A kayaking clinic will be held on August 10, and attendees can pay $150 in advance or $180 on the day of the clinic. Jul. 10 Great Adventures receives cash of $9,100 in advance from 70 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a 542,000 low-interest loan for the company from the city council, which has recently passed an Initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6% anual interest is due each year on July 31. Aug. The company purchases 14 kayaks, paying $17,000 cash Aug. 10 Twenty additional kayakers pay $3,600 ($180 each), In addition to the $9,100 that was paid in advance on July 30, the day of the clinic. Tory conducts the first kayok clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,900 cash. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for Sep. 21 Tony conducts rock climbing clinic. The company receives $14,400 cash. one year, paying $2,000 $300 par conth) in advance. oct. 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read on Dec. Tony decides to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain bikin, kayaking, orienteering, trail running, and rock climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each te is $660. Dec. 5 To help organize and promote the race, Tony hires his college roomate, Victor, Victor will be paid $60 in an 1 3 27 4 2 5 7 8 6 Sell $13,500 of common stock to Surie. Record the appropriate journal entry Prox 1 Next 8 2 3 of 8 !! O BI Search 0 Budget; lois check portfolio LCRIA CAMAR public stage