On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during

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On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 1 (50.21 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 2 (71.46 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 3 (107.21 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 4 (43.59 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 5 (103.98 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 6 (89.04 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 7 (75.2 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 8 (92.9 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 9 (33.86 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 10 (60.08 KiB) Viewed 11 times

On April 1 2017 Jiro Nozomi Created A New Travel Agency Adventure Travel The Following Transactions Occurred During 11 (73.02 KiB) Viewed 11 times

On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,400 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 $8,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,600 cash for two weeks' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 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 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends Use the following information: 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Ind nce Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Tim thelada la= $1731 of nan manthin Iman kan intend
318 Retained Earnings 319 Dividends Use the following information: a. Two-thirds (or $133) of one month's Insurance coverage has expired. b. At the end of the month, $600 of office supplies are still available. guapanes c. This month's depreciation on the computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 of commissions that are not yet billed at month-end. 901 Income Summary 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 and post the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2017. 5b. Prepare the statement of retained earnings for the month of April 30, 2017. 5c. Prepare the balance sheet at April 30, 2017. 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 4 Adj Req 4 Adj Trial Bal Entries Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. Req 3 Req SA Req SB Req 5C Req 6A Req 6B GL Req 71
Using account balances from Requirement op, prepare an unadjusted trial balance as or Ap ADVENTURE TRAVEL Unadjusted Trial Balance April 30, 2017 Account Title 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 307: Common Stock 318: Retained earnings 319: Dividends 405: Commissions earted 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total <Req 1 and 2 $ Debit 10 Credit Req 4 Adj Entries >
Journal entry worksheet 1 Transaction a. 2 Note: Enter debits before credits. 3 Two-thirds (or $133) of one month's Insurance coverage has expired. Record entry 4 5 General Journal Clear entry Debit Credit View general Journal
ADVENTURE TRAVEL Adjusted Trial Balance April 30, 2017 209: Salaries payable 307: Common stock Account Title 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 318: Retained earnings 319: Dividends 405: Commissions earned 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total $ Debit 10 $ Credit
Revenues: Expenses: Total expenses ADVENTURE TRAVEL Income Statement For Month Ended April 30, 2017 < Req 4 Adj Trial Bal $ 69 0 0 Req
ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30, 2017 $ Retained earnings, April 1, 2017 Retained earnings, April 30, 2017 $ 0 2,197 2,197 697 < Req 5A
Total assets Total equity Total liabilities and equity ADVENTURE TRAVEL Balance Sheet April 30, 2017 $ $ 0 0 0 0
View transaction list Journal entry worksheet 2 Date April 30 3 Record the entry to close revenue account(s). Note: Enter debits before credits. Record entry 4 General Journal Clear entry Debit Credit View general Journal
Req 1 and 2 Date Req 3 Date Debit Req 4 Adj Entries Debit Req 6A Req58 GL Post the journal entries to the ledger. If there is more than one transaction on a specific date, make sure to select the specific (abbreviated) da that transaction in the date field. Cash Req 4 Adj Trial Bal Office Supplies Credit Credit Req SA Computer Equipment. Req SB General Ledger accounts Balance Balance Date Req 5C Date Accounts Receivable Debit Credit Prepaid Insurance Debit Req 7 Credit Balance Balance Accumulated Depreciation-Computer equipment
Prepare a post-closing trial balance. Totals ADVENTURE TRAVEL Post-Closing Trial Balance April 30, 2017 Account Title $ Debit < Req 6B GL 10 $ Credit 0 ROCT)