1 Problem 4-1A Applying the accounting cycle LO C1, C2, P2, P3 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month 60 April 1 Nozomi invested $44,000 cash and computer equipment worth $35,000 in the company 2 The company rented furnished office space by paying $2,900 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 $900 cash for two weeks' salaries earned by employees. 24 The company collected $17,500 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $900 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 $1,200 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash from the company for personal use. points 02:54:55 eBook References The company's chart of accounts follows: 405 Commissions Earned 612 Depreciation Expense-Computer 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 101 Cash 106 Accounts Receivable pauP 124 office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals azdag BATa2a 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. c. This month's depreciation on the computer equipment is $300. d. Employees earned $3800 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. ipany accounts in Requuirer sheet accounts. oras prepald and urnearried 1 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. 5a. Prepare the income statement for the month of April 30, 2017. 5b. Prepare the statement of owner's equity 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. 60 points 02:54:46 Complete this question by entering your answers in the tabs below. eBook Req 4 Adj Entries Req 4 Adj Trial Bal Req 3 Req 1 and 2 Req 5A Req 5B Req 5C Req 6A References Prepare the statement of owner's equity for the month of April 30, 2017. (Amounts to be deduct with a minus sign.) ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30, 2017 J.Nozomi, Capital, April 1, 2017 0 J.Nozomi, Capital, April 30, 2017 S 0 Req 5A Req 5C