! Required information RWP10-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2025: November 5 Issue an additional 132,000 shares of common stock for $10 per share. November 16 Purchase 13,200 shares of its own common stock (i.e., treasury stock) for $31 per share. November 24 Resell 7,200 shares of treasury stock at $32 per share. December 1 Declare a cash dividend on its common stock of $14,600 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 30 Pay $880,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. RWP10-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the issue of additional 132,000 shares of common stock for $10 per share. Note: Enter debits before credits. Date November 05, 2025 General Journal Debit Credit Record entry Clear entry View general journal >
! Required information RWP10-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2025: November 5 Issue an additional 132,000 shares of common stock for $10 per share. November 16 Purchase 13,200 shares of its own common stock (i.e., treasury stock) for $31 per share. November 24 Resell 7,200 shares of treasury stock at $32 per share. December 1 Declare a cash dividend on its common stock of $14,600 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 30 Pay $880,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. RWP10-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the issue of additional 132,000 shares of common stock for $10 per share. Note: Enter debits before credits. Date November 05, 2025 General Journal Debit Credit Record entry Clear entry View general journal >
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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Required information
RWP10-1 (Algo) Great Adventures Continuing Case
[The following information applies to the questions displayed below.]
Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes
course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an
additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to
close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of
stock in the company to raise the additional funds for the camp.
Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie
each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following
transactions affect stockholders' equity during the remainder of 2025:
November 5 Issue an additional 132,000 shares of common stock for $10 per share.
November 16 Purchase 13,200 shares of its own common stock (i.e., treasury stock) for $31 per share.
November 24 Resell 7,200 shares of treasury stock at $32 per share.
December 1 Declare a cash dividend on its common stock of $14,600 ($0.10 per share) to all stockholders of record on
December 15.
December 20 Pay the cash dividend declared on December 1.
December 30 Pay $880,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the
Buildings account.
RWP10-1 (Algo) Great Adventures Continuing Case Part 1
Required:
1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in
the first account field.)
View transaction list
Journal entry worksheet
<
1
2 3 4
5
6 7
Record the issue of additional 132,000 shares of common stock for $10 per
share.
Note: Enter debits before credits.
Date
November 05, 2025
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52903c29-ae95-41b0-88fd-1f3bd3b4fa19%2F02da5bac-0901-41d9-a0ed-0aef88f54e98%2Fabh87m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
RWP10-1 (Algo) Great Adventures Continuing Case
[The following information applies to the questions displayed below.]
Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes
course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an
additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to
close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of
stock in the company to raise the additional funds for the camp.
Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2024, Tony and Suzie
each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following
transactions affect stockholders' equity during the remainder of 2025:
November 5 Issue an additional 132,000 shares of common stock for $10 per share.
November 16 Purchase 13,200 shares of its own common stock (i.e., treasury stock) for $31 per share.
November 24 Resell 7,200 shares of treasury stock at $32 per share.
December 1 Declare a cash dividend on its common stock of $14,600 ($0.10 per share) to all stockholders of record on
December 15.
December 20 Pay the cash dividend declared on December 1.
December 30 Pay $880,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the
Buildings account.
RWP10-1 (Algo) Great Adventures Continuing Case Part 1
Required:
1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in
the first account field.)
View transaction list
Journal entry worksheet
<
1
2 3 4
5
6 7
Record the issue of additional 132,000 shares of common stock for $10 per
share.
Note: Enter debits before credits.
Date
November 05, 2025
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
>
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