Check my work 1 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month 100 points April 1 Nozoni invested $49,000 cash and computer equipsent worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,400 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $2,300 cash for the prenium 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 $14,000 cash for commissions earned. 28 The company paid $1,100 cash for two weeks' salaries earned by employees. 29 The company paid $250 cash for minor repairs to the company's computer. 30 The company paid $1,000 cash for this month's telephone bill. 30 The company paid $2,300 cash in dividends. eBook References The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 387 Connon 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 points eBook References Use the following information: a. Prepaid Insurance of $128 has expired this month. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $600, d. Employees earned $310 of unpaid and unrecorded salaries as of month-end. e. The company earned $1.900 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 uneared 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. Sc. 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 1 Reg 1 and 2 Req3 Req 4 Ad) Entries Reg 4 Adj Trial Ball Reg SA Reg 58 Req 5C Reg 6 Reg 68 GL Req7 Journalize the adjusting entries for the month, and then post to the ledger on Reg 68 tab, using April 30 Ad), as the date. (Do not round Intermediate calculations and round the final answers to nearest whole number.) 100 points View transaction list ebook Journal entry worksheet 1 2 3 4 5 > Prepaid insurance of $128 has expired this month. Note: Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general Journal 1 Reg 1 and 2 Reg 3 Req 4 Adj Entries Red 4 Ad) Trial Bal Reg SA Reg 5B Req SC Req 6A Req 68 GL. Reg 7 Prepare the income statement for the month of April 30. 100 points ADVENTURE TRAVEL Income Statement For Month Ended April 30 eBook References Revenues Expenses Total expenses 0 $ 0 1 Req 1 and 2 Reg 3 Req 4 Ad) Entries Reg 4 Ad) Trial Req SA Reg 5B Reg SC Req 6A Reg 6B GL Rego Prepare journal entries to close the temporary accounts and then post to Reg 6B General Ledger, using April 30 Close as the date. 100 points View transaction list eBook Journal entry worksheet References Record the entry to close the revenue account(s). Note: Enter debits before credits General Journal Debit Credit Date April 30 Record entry Clear entry View general Journal L nts eBook Reg 1 and 2 Reg 3 Reg 4 Adj Reg 4 Ad) Entries Trial Bal Reg SA Reg 5B Reg SC Reg 6A Reg 6B GL Reg 2 Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) references ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ 0 0 Retained earnings, April 30 $ 0 Reg GA Reg 5C >
