Question

Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering dinics for b
Jul 15 on the day of the clinic, Great Adventures receives cash of $2,996 from 40 bikers. Torry conducts the mountain biking
The following information relates to year-end adjusting entries as of December 31, 2021. a. Depreciation of the mountain bike
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Date Credit Debit Date Retained Earnings 31-Dec 36,525 4,400 87,500 31-Dec 31-Dec Bal. 46,575

Credit Closing entries No. Date Accounts 35 31-Dec Service revenue (Clinic) Service revenue (Racing) Retained Earnings Debit

Great Adventures Inc. Journal entries No. Date Accounts 1 1-Jul Cash Common Stock Credit Debit 17,000 17,000 17,000 1-Jul Cas

Credit Calculation Adjusting entries No. Date Accounts 28 31-Dec Depreciation expense Accumulated Depreciation Debit 9,000 ACCredit Credit Date Credit Date Credit Date Debit Date Prepaid Insurance 1-Jul 3,840 31-Dec Debit Date Prepaid Rent 4,680 31-D

Add a comment
Know the answer?
Add Answer to:
Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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 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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering dinics 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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

  • Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...

    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...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT