- On April 1 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During The Co 1 (37.49 KiB) Viewed 13 times
- On April 1 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During The Co 2 (37.49 KiB) Viewed 13 times
- On April 1 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During The Co 3 (60.15 KiB) Viewed 13 times
- On April 1 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During The Co 4 (73.66 KiB) Viewed 13 times
On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the
company's first month. April 1 Nozomi invested $31,000 cash and computer equipment worth $35,000 in the
company in exchange for common stock. 2 The
company rented furnished office space by paying $2,400 cash for the first month's (April) rent. 3. The
company purchased $1,10e of office supplies for cash. 10 The
company paid $2,100 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The
company paid $1,600 cash for two weeks' salaries earned by employees. 24 The
company collected $13,000 cash for conmissions earned. 28 The
company paid $1,600 cash for two weeks' salaries earned by employees. 29 The
company paid $500 cash for minor repairs to the
company's computer. 30 The
company paid $1,300 cash for this month's telephone bill. 30 The
company paid $1,500 cash in dividends, The
company's chart of accounts follows: 101 Cash 405 Commissions Earned 106 Accounts Receivable 612 Depreciation Expense-Computer Equip. 124 Office Supplies 622 Salaries Expense 128 Prepaid Insurance 637 Insurance Expense 167 Computer Equipment 640 Rent Expense 168 Accumulated Depreciation-Computer Equip. 650 Office Supplies Expense 299 Salaries Payable 684 Repairs Expense 307 Common Stock 688 Telephone Expense 318 Retained Earnings 901 Income Summary 319 Dividends Use the following information: a. Prepaid insurance of $117 has expired this month. b. At the end of the month, $700 of office supplies are still available.
4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income
statement for the month of April 30. 5b. Prepare the
statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Complete this
question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A R Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30
Prepare the balance sheet at April 30. Total assets Total equity Total liabilities and equity ADVENTURE TRAVEL Balance Sheet April 30 $ $ 0 0 0