On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the co

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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 $1,100 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 commissions 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 124 Office Supplies 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 128 Prepaid Insurance 637 Insurance Expense 167 Computer Equipment 640 Rent Expense 168 Accumulated Depreciation-Computer Equip. 650 Office Supplies Expense 209 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. e. This month's depreciation on the computer equipment in 5.400
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. e. This month's depreciation on the computer equipment is $400. d. Employees earned $470 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,900 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month and prepare the adjusted trial balance. 56. 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. 68. 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 Reg 3 Reg 4 Adj Entries Req 4 Adj Trial Bal Reg SA Req 58 Reg SC Req6A Req 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Req 6B GL
Req 1 and 2 Req 3 Req 4 Adj Entries Prepare the balance sheet at April 30. Total assets Req 4 Adj Tral Bal ADVENTURE TRAVEL Balance Sheet April 30 Total equity Total liabilities and equity Req 5A $ $ Req 5B 0 0 0 0 Req SC Req 6A Req 6B GL Req 7
Req 1 and 21 Req 3 Req 4 Adj Entries Post the journal entries to the ledger. 101: Cash Date April 1 April 2 April 3 April 10 April 14 April 24 April 20 Apr 29 April 28 April 29 April 30 April 30 Adj. April 30 Close Req 4 Adj Trial Bal Credit Debit 124: Office Supplies Debit 1,100 Credit Req 5A 400 Reg 58 General Ledger accounts Balance April 30 Balance 1,100 700 Reg SC Date Date April 10 April 30 Reg 6A Reg 68 GL 106: Accounts Receivable Debit Credit 1,900 128: Prepaid Insurance Debit Credit 2,100 Req 7 117 Balance 1,900 Balance - 2,100 1,983