5C

On April 1. Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. Apri12 Nozomi 1nvested $46,000 cash and computer equipment worth $25,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,900 cash for the first nonth's (April) rent. April 4 The company purchased $1,600 of office supplies for cash. April 10 The company paid $1,980 cash for a 12 -month insurance policy. Coverage begins on April 11. April 14. The company paid $1,100 cash for two weeks' "alaries earned by enployees. April 24 The company collected $12,500 cash for commissions revenue. April 2B The company paid $1,100 cash for two weeks' salaries earned by employees. kpril.29 The company paid $300 eash for minor repairs to conputer equipnent. April 30 The company paid $950 cash for this month's telephone bill. April 30 The conpany paid $1,600 canh in dividends. The company's chart of accounts follows: Use the following information to prepare adjusting entries: a. Prepaid insurance of $110 expired this month. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on computer equipenent is $600. d. Employees earned $470 of unpaid and unrecorded salaries as of month-end. e. The company eamed $2,050 of commissions revenue that is not yet recorded at month-end. Prepare the statement of retained earnings for the month of April 30