319 dividends

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 $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 $1,800 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 commissions earned. 28 The company paid $1,300 cash for two weeks' salaries earned by employees. 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: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaris Payable 307 Common Stock 313 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 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 $2.400 of commissions that are not yet billed at month-end. 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. d. Employees earned $350 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,400 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 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. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate con Post the journal entries to the ledger. General Ledger accounts Date - 101: Cash Doble Doble 37 000 credit Balance 106: Accounts Receivable Debit Credit 2400 Date April 30 Ad Balance April 1 April 2 April 3 April 10 1.800 2.000 2000 1,300 37.000 35 200 33.200 30 000 29.300 42,300 41,000 40 600 April 14 April 24 April 28 April 29 April 30 1,300 400 1.200 1800 37,600 128: Prepaid Insurance Debit Credit B Balance 124- Office Supplies Debit Cred 2.000 1300 alance 2000 700 April 3 A 30 A April 10 167: Computer Equipment Debit Credit Date Balance Debit Credit Balance Prev 1 of 1 1 Next Check my work mode : This shows what is correct or incorrect for the work you have completed so far, it does not indicate Date Credit Debit Doble 30,000 Balance 30,000 Date April 30 Adj. Credit 600 Balance 600 April 1 Date 209: Salaries Payable Debit Credit 350 Date 307: Common Stock Debit Credit 67,000 Balance 350 Balance April 30 Adi April 67.000 319: Dividends Debit Credit Date Balance Date Balance 318: Retained Earnings Debit Credit 7.006 1800 7006 April 30 Close April 30 Close April 30 Close Date Balance 405: Commissions Earned Debit Credit 13.000 2.400 15,400 612: Depreciation Expense Computer Equipment Date Debit Credit Balance April 30 Ad 600 500 April 30 Close 500 April 24 April 30 Adj. April 30 Close 13 000 15.400 Prev 1 of 1 Next DULUI CUM Apni su ciose 10,40U 622: Salaries Expense Debit Credit 637: Insurance Expense Debit Credit Date Balance 144 Date April 14 April 28 April 30 Adi April 30 Close 1,300 1,300 350 Balance 1,300 2,600 2,950 April 30 Adj. April 30 Close 144 2,950 Date 640: Rent Expense Debit Credit 1,800 1,800 650: Office Supplies Expense Debit Credit Balance April 2 April 30 Close Date April 30 Adi. April 30 Close Balance 1,300 1,800 0 1,300 684: Repairs Expense Debit Credit Balance Date April 29 April 30 Close 400 688: Telephone Expense Debit Credit 1.200 1.200 Date April 30 April 30 Close Balance 1200 400 400 0 901: Income Summary Debit Credit Balance Anril 30 CARA 15 4 2 15.400 Prev 1 of 1 !!! Next