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asap please due today On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month.
asap please due today
On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apr11 1 Nozomi invented $50,000 cash and computer equipment worth $35,000 in the company in exchange for conmon stock. 2 The company rented furnished office space by paying 52,500 canh for the first month's (Apri1) rent. 3 The coepany purchased $1,900 of of fice supplies for cash. 10 The company paid $2,700 cash for the premium on a 12-month insurance policy. Coverage begins on Apri1 11. 14 The company paid $1,000 cash for two weeks' salarien earned by employees. 24 The company collected $16,000 cash for comsissionn earned. 28 The company paid $1,000 cash for two weeks' salaries earned by employees. 29. The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $1,400 cash for this month' 3 telephone bili. 30 The conpany paid $2,500 cash in dividends. The company's chart of accounts follows: Use the following information: a. Prepaid insurance of $150 has expired this month, b. At the end of the month, $500 of office supplies are still availabie. c. This month's depreciation on the computer equipment is $300. d. Employees earned $430 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,300 of commissions that are not yet billed at month-end. Required: 1. 2. Prepare joumal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The 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. 5 . 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. 6 a. 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. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 66 . The company records prepaid and unearned items in balance sheet accounts. Using account balances from Requirement 6 b, prepare an unadjusted trial balance as of April 30. Journalize the adjusting entries for the month, and then post to the ledger on Req 68 tab, using April 30 Adj, as the date. (Do not round intermedlate calculations and round the final answers to nearest whole number.) Journal entry worksheet 45 Prepaid insurance of $150 has expired this month. Note: Inter debits before credits. Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30 . Prepare the income statement for the month of April 30. pa. rrepare the income statement tor tne monum or Apri su. 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. 6 b. Post the journal entries to the ledgier. 7. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Prepare the statement of retained eamings for the month of Apri 30. (Amounts to be deducted should be entered with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare the balance sheet at April 30 . Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the date. Journal entry worksheet 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. Post the journal entries to the ledger. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance Step by Step Solution
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