318 return earnings Req3

Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it do On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April Nozomi invested $37,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,500 cash for the first month's (April) rent. 3 The company purchased $2,000 of office supplies for cash 10 The company paid $2,600 cash for the premium on a 12-month Insurance policy. Coverage begins on April 11. 14 The company paid $1,300 cash for two weeks' salaries earned by employees. 24 The company collected $13,000 cash for comissions earned. 28 The company paid $1,300 cash for two weeks' salaries earned by employees. 29 The company paid cash for winor repairs to the company's computer. 30 The company paid $1.200 cash for this month's telephone bill. 30 The company paid $1.800 cash in dividends. The company's chart of accounts follows: 101Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common stock 318tained Earnings 319 Dividends 405 Comissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries pense 637 Insurance Expense 660 Rent Expense 650 Office Suplies Expense 654 Repairs Expense 638 Telephone Expense Use the following information: a. Prepaid insurance of $144 has expired this month b. At the end of the month $700 of office supplies are still available c. This month's depreciation on the computer equipment is $600. d. Employees earned $350 of unpaid and unrecorded salaries as of month-end. e. The company earned 52.400 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 65. 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. Journalire the adjusting entries for the month and prepare the adjusted trial balance Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It do 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. No Date General Journal Credit April 01 Cash Computer equipment Debit 37,000 30.000 67,000 April 02 Rent expense Cash 1.800 April 03 2.000 Office Supplies Cash 2000 April 10 Prepaid insurance Cash 2.600 00 00 00 00 00 00 00 00 00 April 14 Salaries expense 1.300 1,300 April 24 13.000 Cash Commissions earned 13.000 A Salaries expense Cash April 29 Repair expense Cash 30 Telephone expense mg your IME LOUS Derw. Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adi Trial Bal Reg 5A Req 5B Req 5C Reg 6A Reqe Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. Credit Debit 37,600 $ 2,000 2,600 30,000 ADVENTURE TRAVEL Unadjusted Trial Balance April 30 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 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 $ 67.000 1,800 13,000 2.600 1,800 400 1.200 80,000 $ $ 80.000 Prey 1 search