Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help please! On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 2

help please! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 2 Nozomi invested $30,600 cash and computer equipment worth $20,000 in the company. April 3 The company rented furnished office space by paying $1,800 cash for the first. month's (Aprit) rent. April 4 The company purchased $1,e0 of office supplies for cash. April 10 The conpany paid 52,400 cash for a 12-month insurance policy. Coverage begins on Aprit 11. April 14 The company paid 51,660 cash for two weeks' salaries earned by enployees. April 24 The company collected $8,60 cash for commissions revenue. April 28 The company paid $1,600 cash for two weeks' salaries earned by enployees. April 29 The company paid $350 cash for minor repairs to conputer equipeent. April 36 The company paid $750 cash for this month's telephone bill. Apri1 36 Nozomi withdrew $1,506 cash from the company for personal use. The company's chart of accounts follows. Use the following information to prepare adjusting entries: a. Prepaid insurance of $133 expired this month. b. At the end of the month, $600 of office supplies are still available. b. This month's depreciation on computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company eamed $1,750 of commissions revenue that is not yet recorded at month-end. Prepare a post-closing trial balance. Note: For April 30, choose the dropdown that most accurately describes the entry. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 50 Req 6A Req 6B GL Req 7 Prepare fournal entries to close the temporary accounts and then post to Req 6BGL tab, using April 30 Close as the date. Using account balances from Requirement 6 b, prepare an unadjusted trial balance as of April 30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting In Health Care Organizations

Authors: David W. Young

3rd Edition

1118653629, 978-1118653623

Students also viewed these Accounting questions

Question

c. What are the job responsibilities?

Answered: 1 week ago

Question

=+What do you want them to think?

Answered: 1 week ago

Question

=+Why should they buy this product/service?

Answered: 1 week ago