Can you answer the T-accounts please and thanks!

Hope this helps, I just need the T-Accounts because they keep saying my answer is not complete.

Hi, I hope this is enough information. I just need the T-Accounts please and thanks.

Required information [The following information applies to the questions displayed below.] Tony and Suzle graduate from college in May 2024 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, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated The articles of incorporation state that the corporation will sell 40,000 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 business activities occur during July for Great Adventures. July 1 Sell $20,000 of common stock to Suzie. July 1 Sell $26,080 of common stock to Tony. July 1 Purchase a one-year insurance policy for $5,280 ( $440 per month) to cover injuries to July 2 participants during outdoor clinics. July 4 Purchase office supplies of $1,400 on account. July 7 Pay $270 to a local newspaper for advertising to appear immediately for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $70 the day of the clinic. July 8 Purchase 10 mountain bikes, paying $11,900 cash. July 15 On the day of the clinic, Great Adventures receives cash of $4,200 in total from 60 bikers. Tony July 22 Because of the success of the first mountain biking clinic, Tony and Suzie holds another July 24 mountain biking clinic and the company receives $4,760. be held on August 10 , and attendees can pay $140 in advance or $190 on the day of the clinic. July 30 Great Adventures receives total cash of $11,200 in advance from 80 kayakers for the upcoming The following transactions occur over the remainder of 2024. August 1 Great Adventures obtains a $35,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development retated to outdoor kayak clinic. The following transactions occur over the remainder of 2024. August 1 Great Adventures obtains a $35,000 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% annual interest is due each year on July 31. August 4 The company purchases 14 kayaks, paying $21,600 cash. August 10 Tony and Suzie conduct the first kayak clinic. In addition to the $11,200 that was received in advance from kayakers on Juty 30 , the company receives additional cash of $3,800 from twenty new kayakers on the day of the clinic. August 17 Tony and Suzie conducts a second kayak clinic, and the company receives $11,400 cash. August 24 office supplies of $1,400 purchased on July 4 are paid in futl. September 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,960 ( $330 per month) in advance. September 21 Tony and Suzie conduct a rock-climbing clinic. The company receives $13,400 cash. october 17 Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $18,500 cash. December 1 Tony and Suzie decide to hold the company's first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of nountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to complete all checkpoints in order wins. The entiy fee for each team is $690. December 5 To help organize and promote the race, Tony hires his college roomate, Victor. Victor witl be paid $60 in salary for each teas that competes in the race. His salary will be paid after the race. December 8 The company pays $1,300 to purchase a permit from a state park where the race witl be hetd. The amount is recorded as a miscellaneous expense. December 12 The company purchases racing supplies for $2,300 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $27,600 cash from a total of forty teams, and the race is hetd. December 16 The company pays Victor's salary of $2,40e. December 31 The company pays a dividend of $3,700 ( $1,850 to Tony and $1,850 to Suzie). December 31 Using his personal money, Tony purchases a diamond ring for $4,900. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2024. paid $60 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,360 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. Decenber 12 The company purchases racing supplies for $2,308 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, pronotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $27,600 cash from a total of forty teams, and the race is held. December 16 The company pays Victor's salary of $2,460. December 31 The company pays a dividend of $3,700 ( $1,850 to Tony and $1,850 to Suzie). December 31 using his personal money, Tony purchases a diamond ring for $4,900. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,100. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,400 of office supplies purchased on July 4,$270 remains. e. Interest expense on the $35,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,300 of racing supplies purchased on December 12,$100 remains. 9. Suzie calculates that the company owes $14,800 in income taxes. Required: 1. Record transactions from July 1 through December 31, (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entry require dn in the first account field.) Required information Required information ( Required information Required information 3. Post transections from July 1 through December 31 and adjusting and closing entries on December 31 to T-accounts. 7. Post the closing entries of retained eamings to the T-account. B Answer is not complete. Required information (1) Required information Required information Required information \begin{tabular}{|l|c|c|c|} \hline \multicolumn{3}{|c|}{ Supplies Expense (Racing) } \\ \hline \multicolumn{2}{|c|}{ Debit } & & \\ \hline Beginning Balance & & & Credit \\ \hline December 31 & 2,200 & 2,200 & December 31 \\ \hline & & & \\ \hline Ending Balance & 0 & & \\ \hline & & & \\ \hline \multicolumn{1}{|c|}{ Debit } & Income Tax Expense & \\ \hline Beginning Balance & & & Credit \\ \hline December 31 & & & \\ \hline & 14,800 & 14,800 & December 31 \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|} \hline \multicolumn{3}{|c|}{ Interest Expense } \\ \hline \multicolumn{2}{|c|}{ Debit } & & \multicolumn{2}{c|}{ Credit } \\ \hline Beginning Balance & & & \\ \hline December 31 & 8750 & 875 & December 31 \\ \hline & & & \\ \hline Ending Balance & 0 & & \\ \hline \end{tabular} On July 1, 2024, Tony and Suzie organize their new company as a corporation, Great Adventures Incorporated The articles of incorporation state that the corporation will sell 40,000 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 business activities occur during July for Great Adventures. buly 8 bing clinic to be held on July 15. Attendees will be charged $70 the day of the clinic. July8Oulythedayoftheclinic,GreatAdventuresreceivescashof$4,200intotalfrom60bikers.TonyPurchase10mountainbikes,paying$11,900cash. and Suzie conducts the nountain biking clinic. July 22 Because of the success of the first mountain biking clinic, Tony and Suzie holds another mountain biking clinic and the company receives $4,700. July 24 Pay $750 to a local radio station for advertising to appear immediately. A kayaking clinic will July 30 be held on August 10 , and attendees can pay $140 in advance or $190 on the day of the clinic. Great Adventures receives total cash of $11,200 in advance fron 80 kayakers for the upcoming kayak clinic. The following transactions occur over the remainder of 2024. August 1 Great Adventures obtains a $35,000 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 64 annual interest is due each year on July 31. August 4 The company purchases 14 kayaks, paying $21,600 cash. August 10 Tony and Suzie conduct the first kayak clinic. In addition to the $11,260 that was received in advance from kayakers on July 30 , the company receives additional cash of $3,800 from twenty new kayakers on the day of the clinic. August 17 Tony and Suzie conducts a second kayak clinic, and the company receives $11,4e0 cash. August 24 office supplies of $1,480 purchased on July 4 are paid in full. September 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,960 ( $330 per month) in advance. September 21 Tony and Suzie conduct a rock-climbing clinic. The conpany receives $13,490 cash. August 24 office supplies of $1,400 purchased on July 4 are paid in full. September 1 To provide better storage of nountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,960 ( $330 per month) in advance. September 21 Tony and Suzie conduct a rock-climbing clinic. The company receives $13,400 cash. October 17 Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographical map, read an altineter, use a compass, and orient through heavily wooded areas. The company receives $18,500 cash. December 1 Tony and Suzie decide to hold the company's first adventure race on December 15. Four-person teans will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock-climbing skills. The first teas in each category to complete all checkpoints in order wins. The entry fee for each team is $690. December 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $60 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,300 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense. December 12 The company purchases racing supplies for $2,300 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $27,600 cash from a total of forty teans, and the race is held. December 16 The company pays Victor's salary of $2,400. December 31 The company pays a dividend of $3,700 ( $1,850 to tony and $1,850 to Suzie). December 31 Using his personal money, Tony purchases a dianond ring for $4,900. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,100. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,400 of office supplies purchased on July 4,$270 remains. e. Interest expense on the $35,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,300 of racing supplies purchased on December 12,$100 remains. g. Suzle calculates that the company owes $14,800 in income taxes. Required: 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entr Required: required" in the first account field.) Required: 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required information required in the tirst account field.) 1. Required information 3. Post transactions from July 1 through December 31 and adjusting and closing entries on December 31 to T-accounts. 7. Post the closing ontries of retained earnings to the T-account. ( Answer is not complete. Required information Required information Required information Required information Required information Required information [The following information applies to the questions displayed below] Tony and Suzie graduate from college in May 2024 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, 2024, Tony and Suzie organize their new company s a corporation, Great Adventures Incorporated The articles of incorporation state that the corporation will sell 40,000 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 business activities occur during July for Great Adventures. July 8 Purchase 10 mountain bikes, paying $11,900 cash. July 15 On the day of the clinic, Great Adventures receives cash of $4,200 in total from 60 bikers. Tony and Suzie conducts the mountain biking clinic. July 22 Because of the success of the first mountain biking clinic, Tony and Suzie holds another July 24 mountain biking clinic and the company receives $4,700. be held on August 10, and attendees can pay $140 in advance or $190 on the day of the clinic. July 30 Great Adventures receives total cash of $11,200 in advance from 80 kayakers for the upcoming kayak clinic. The following transactions occur over the renainder of 2024. August 1 Great Adventures obtains a $35,000 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 68 annual interest is due each year on July 31. August 4 The cospany purchases 14 kayaks, paying $21,600 cash. August 10 Tony and Suzie conduct the first kayak clinic. In addition to the $11,2e0 that was received in advance trom kayakers on July 30 , the compahy receives additional cash of $3,800 from twenty new kayakers on the day of the clinic. August 17 Tony and Suzie conducts a second kayak clinic, and the company receives $11,400 cash. August 24 office supplies of $1,400 purchased on July 4 are paid in full. September 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed for one year, paying $3,960 ( $330 per month) in advance. September 21 Tony and Suzie conduct a rock-clinbing clinic. The company receives \$13,400 cash. october 17 Tony and Suzie conduct an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $18,500 cash. Decenber 1 Tony and Suzie decide 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 biking, kayaking, orienteering, trail running, and rock-climbing skills. The first team in each category to corplete all checkpoints in order wins. The entry fee for each team is $690. December 5 To help organize and promote the race, Tony hires his college roonmate, Victor. Victor will be paid $60 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,30e to purchase a permit from a state park where the race will be held. The amount is recorded as a miscetlaneous expense. 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 team is $696. December 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $60 in salary for each team that competes in the race. His salary will be paid after the race. December 8 The company pays $1,300 to purchase a permit from a state park where the race will be held. The amount is recorded as a niscellaneous expense. December 12 The company purchases racing supplies for $2,300 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. December 15 The company receives $27,600 cash from a total of forty teams, and the race is held. December 16 The company pays Victor's salary of $2,400. December 31 The company pays a dividend of $3,700 ( $1,850 to Tony and $1,850 to Suzie). December 31 Using his personal money, Tony purchases a dianond ring for $4,900. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,100. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,400 of office supplies purchased on July 4,$270 remains. e. Interest expense on the $35,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,300 of racing supplies purchased on December 12,$100 remains. g. Suzie calculates that the company owes $14,800 in income taxes. Required: 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: 1. Record transactions from July 1 through December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) (1) Required information Required information In 1 A) Required information (1) Required information 2. Record adjusting entries as of December 31,2024 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. (1) Required information The following information relates to year-end adjusting entries as of December 31,2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,100. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,400 of office supplies purchased on July 4,$270 remains. e. Interest expense on the $35,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,300 of racing supplies purchased on December 12,$100 remains. 9. Suzie calculates that the company owes $14,800 in income taxes. 3. Post transactions from July 1 through December 31 and adjusting and closing entries on December 31 to T-accounts. 7. Post the closing entries of retained earnings to the T-account. Required information Prev 4568 of 8 iti Next > Required information (1) Required information Required information Required information 1) Required information 1. Required information Required information