Case Accounting Cycle BW Travel and Tours is a travel agency that offers international and local travel packages. The company is owned and operated by Bryson Woods. The closing balances at the end of August $2023$ and the chart of accounts are shown below.

BW Travel and Tours Balance Sheet As at August $31,2023$ Liabilities $$14,230$ Accounts Payable $$8,520$ Unearned Revenue $$0|$Bank Loan $$65,800-$$$9,600$ Total Liabilities Woods Capital $$78,950|$ Total Liabilities & Owners' Equity

Assets Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation

$$11,700$ $$16,200$ $$25,000$

$$52,900$ $$26,050$ $$78,950$

Account # Account Description Account Description REVENUE ASSETS Service Revenue $101$ Cash $105$ EXPENSES Accounts Receivable $110$ Advertising Expense Prepaid Insurance $120$ Depreciation Expense Equipment Insurance Expense Accumulated Depreciation $125$ Interest Expense LIABILITIES Salaries Expense Accounts Payable $200$ Interest Payable $205$ Telephone Expense Travel Expense Salary Payable $210$ Rent Expense Unearned Revenue $215220$ Bank Loan OWNER'S EQUITY Woods Capital $300$ Woods Withdrawals $310$ Income Summary $315$ For the month of September $2023,$ BW Travel and Tours had the following transactions: Bryson invested $$15000$ cash and equipment valued at $$12,500$ into the business. Sept $]$ Prepaid $$4,500$ for insurance for one year Sept $1$ Sept$1$ Paid $$1,950$ cash for September's rent. Provided travel package to group of travellers; they paid $$22,500$ now and will pay Sept $2$ $$4,500$ later. Sept $5$ Recorded travel expenses for $$9,100$ to be paid next month. Purchased equipment with $$13,000$ cash. Sept $11$ Sept $15$ Paid $$5,850$ cash to reduce the balance of accounts payable. Sept $18$ Received $$4,260$ cash from customers for the travel services provided last month Received a telephone bill for $$880$ which will be paid next month Sept $20$ Sept $23$ Paid $$4,150$ cash for employee's salaries. Sept $26$ Received $$26,700$ cash in advance from travellers for trave services to be provided next month. Paid $$2,530$ advertising expense for the promotion of the travel and tours in the month Sept $28$ of September. Sept $29$ The owner withdrew $$6,550$ cash for personal use. bank loan which included $$625$ principle and $$208$ interest. Sept $30$ Paid $$833$ cash for the Sept $30$

Total Assets

$400$

$500510515520545550555560$

Account #

Received a loan from the bank for $$20,000$ Note: This amount is due in $2$ years plus accrued interest at $10\%$

nse of $$2,075$ for an employee.

Sept $30$ Sept $30$ Sept $30$

The bank loan is payable over $6$ years and $$625$ monthly payment.

Required: a$)$ Enter the opening balances from the August $2023$ balance sheet into the general ledger accounts. b$)$ Prepare the journal entries for the month of September and post them to the appropriate general ledger to accounts. c$)$ Create the trial balance in the worksheet, and then complete the remaining section of the worksheet. d$)$ Prepare the journal entries for the adjustments and post them to the appropriate general ledger accounts.

e$)$ Create the income statement, statement of owner's equity and the classified balance sheet. f$)$ Prepare the journal entries to close the books for the month of September $2023($use the income summary account$),$ and post the journal entries to the appropriate general ledger accounts g$)$ Create the post$-$closing trial balance. travellers for trave services to be provided next month. Paid $$2,530$ advertising expense for the promotion of the travel and tours in the month Sept $28$ of September. Sept $29$ The owner withdrew $$6,550$ cash for personal use. bank loan which included $$625$ principle and $$208$ interest. Sept $30$ Paid $$833$ cash for the Sept $30$

Total Assets

$400$

$500510515520545550555560$

Account #

Received a loan from the bank for $$20,000$ Note: This amount is due in $2$ years plus accrued interest at $10\%$