Accounting Cycle Saved Help Save & Exit Sut Check my wor On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozoni invested $31,000 cash and computer equipment worth $40,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,700 cash for the first month's (April) rent. 3 The company purchased $2,000 of office supplies for cash. 10 The company paid $2,200 cash for the prentun on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,100 cash for two weeks! salaries earned by employees. 24 The company collected $13,500 cash for commissions earned. 28 The company paid $1,100 cash for two weeks' salaries earned by employees. 29 The company paid $450 cash for minor repairs to the company's computer. 30 The company paid $1,400 cash for this month's telephone bill. 30 The company paid $1,500 cash in dividends. The company's chart of accounts follows: + ces 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 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 Ilse the followinn Information S Prov 1 of 1 !!! Next bunting Cycle 6 Saved Help Save & EX Chec Use the following information: a. Prepaid insurance of $122 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 $400. d. Employees earned $380 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,550 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. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Ad) Entries Reg 4 Ad) Trial Bal Reg SA Req 5B Reg 5C Reg 6A Reg 6B GL Reg 7 Prev 1 of 1 Next ect 1- Accounting Cycle Saved Help Save 1 View transaction list 0 Sints Journal entry worksheet Prepaid insurance of $122 has expired this month. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal April 30 Account Title Debit Credit 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 ating Cycle Saved Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses Prev 1 of 1 Next 28 dtv Aw 6a. Prepare journal entries to close the temporary accounts and then post to Requireme 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. Reg Req 1 and 2 Reg 3 Req 4 Adj Req 4 Ad) Entries Trial Bal Reg SA Req 5B Req 5C Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducte minus sign.) ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ 0 Retained earnings, April 30 Prev 1 of 1 Next 6.034 28 dtv Aw 55 ounting Cycle Saved Balance Sheet April 30 Total assets Total equity Total liabilities and equity