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[The following information applies to the questions displayed below.] Tony and Suzie graduate from college in May 2021 and be3. Prepare a trial balance. (The items in the Trial Balance should be grouped as follows: Assets, Liabilities, Stockholders

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Answer #1
Great Adventures Inc.
Date General,Journal Debit Credit
01-Jul Cash $              10,000.00
    To Common Stock $                     10,000.00
( Sell common stock to Suzie
01-Jul Cash $              10,000.00
    To Common Stock $                     10,000.00
( Sell common stock to Tony)
01-Jul Prepaid Insurance $                4,800.00
    To Cash $                       4,800.00
(Insurance purchased )
02-Jul Legal Fees $                1,500.00
     To Cash $                       1,500.00
( legal fees paid )
04-Jul Office Supplies $                1,800.00
    To Accounts Payable $                       1,800.00
( Office supplies purchased on account)
07-Jul Advertisement Expenses $                   300.00
     To Cash $                          300.00
( Paid for advertisement in newspaper)
08-Jul Equipments $              12,000.00
    To Cash $                     12,000.00
( Purchased of 10 mountain bikes)
15-Jul Cash $                2,000.00
     To Service Revenue $                       2,000.00
(Revenue received from 40 Bikers)
22-Jul Cash $                2,300.00
    To Service Revenue $                       2,300.00
(Cash received for service revenue)
24-Jul Advertisement Expenses $                   700.00
    To Cash $                          700.00
(Paid for advertisement in Radio)
30-Jul Cash $                4,000.00
   To Deferred Revenue $                       4,000.00
(Advance received from 40 Kayakers for upcomin Kayak clinic)
Great Adventure Inc.
Adjusted Trial Balance
Account Head Dr Cr
Assets
Cash($10000+$10000-$4800-$1500-$300-$12000+$2000+$2300-$700+$4000) $                9,000.00
Prepaid Insurance $                4,800.00
Office Supplies $                1,800.00
Equipment $              12,000.00
Liabilities
Accounts Payable $                       1,800.00
Deferred Revenue $                       4,000.00
Stockholder's Equity
Common Stock($10000+$10000) $                     20,000.00
Revenue
Service Revenue($2000+$2300) $                       4,300.00
Expenses
Advertisement expenses($300+$700) $                1,000.00
Legal fees expenses $                1,500.00
Total $              30,100.00 $                     30,100.00
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