April 2 Nozomi invested $49,000 cash and computer equipment worth $35,000 in the company. April 3 The company rented furnished office space by paying $2,900 cash for the first month's (April) rent. April 4 The company purchased $1,600 of office supplies for cash. April 10 The company paid $2,400 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,500 cash for two weeks' salaries earned by employees. April 24 The company collected $11,000 cash for commissions revenue. April 28 The company paid $1,500 cash for two weeks' salaries earned by employees. April 29 The company paid $450 cash for minor repairs to computer equipment. April 30 The company paid $1,500 cash for this month's telephone bill. April 30 Nozomi withdrew $2,100 cash from the company for personal use. The company's chart of accounts follows: 101 106 Cash Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equipment 209 Salaries Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals Use the following information to prepare adjusting entries: a. Prepaid insurance of $133 expired this month. 403 612 Commissions Revenue Depreciation Expense-Computer Equipment 622 Salaries Expense 637 640 650 Insurance Expense Rent Expense Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary b. At the end of the month, $400 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $470 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,100 of commissions revenue that is not yet recorded at month-end. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare journal entries to close the temporary accounts and then post to Req 6B GL tab, using April 30 Close as the date. No 1 Date April 30 General Journal Commissions revenue Income summary 2 April 30 Income summary Salaries expense Rent expense Insurance expense Office supplies expense Telephone expense Repairs expense Depreciation expense-Computer equip. 3 April 30 Income summary J. Nozomi, Capital 4 April 30 J. Nozomi, Capital J. Nozomi, Withdrawals > > Debit Credit 13,100 13,100 10,053 3,470 1,900 133 1,200 1,500 450 400 3,047 3,047 2,100 2,100 General Ledger accounts 101: Cash Date Debit Credit Balance Date 124: Office Supplies Debit Date 106: Accounts Receivable Debit Credit Balance 128: Prepaid Insurance Credit Balance Date Debit Credit Balance Date Date Date 167: Computer Equipment Debit Credit Balance Date 209: Salaries Payable Debit 168: Accumulated Depreciation-Computer equipment Credit Balance Debit Credit Balance Date 301: J. Nozomi, Capital Debit Credit Balance 302: J. Nozomi, Withdrawals Debit 403: Commissions Revenue Credit Balance Date Debit Credit Balance 612: Depreciation Expense-Computer Equipment Date Date Date Debit Credit 637: Insurance Expense Debit 622: Salaries Expense Balance Date Debit Credit Balance Credit Balance Date 640: Rent Expense Debit Credit Balance 650: Office Supplies Expense Debit 684: Repairs Expense Credit Balance Date Debit Credit Balance Date 688: Telephone Expense Debit Credit Balance Date April 30 April 30 April 30 April 30 < Req 6A 901: Income Summary Debit Req 7 > Credit Balance