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On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozomi invested $37,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. 3. The company purchased $2,000 of office supplies for cash. 10 The company paid $2,600 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,300 cash for two weeks' salaries earned by employees. 24 The company collected $13,000 cash for commissions earned. 28 The company paid $1,300 cash for two weeks' salaries earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 30 The company paid $1,200 cash for this month's telephone bill. 30 The company paid $1,800 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 121 Prepaid Insurance 167 Computer Equipment 168 Acolate Depreciation-Computer Equip 209 Salaries Payable 307 Common stock taid Earnings 319 Dividends 405 Comissions 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 Use the following information a. Prepaid insurance of $144 has expired this month. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on the computer equipment is $600 d. Employees eamed $350 of unpaid and unrecorded salaries as of month-end. e. The company earned $2.400 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 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. 5o. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30 Check my work mode: This shows what is correct or incorrect for the work you have con 20L Fayau 307 Common Stock 318 Retained Earnings 319 Dividends 00 Repa CA 688 Telephone Expense 901 Income Summary Use the following information: a. Prepaid insurance of $144 has expired this month. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on the computer equipment is $600. d. Employees earned $350 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,400 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 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. 5a. 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. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Req 4 Adj Entries Reg 4 Adj Trial Bal Reg 5A Reg 5B Req 5C Reg 6A Reg 6B GL Req7 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. No Date General Journal Credit April 01 Cash Computer equipment Debit 37,000 30,000 67.000 Check my work mode: This shows what is correct or incorrect for the work you have com No Date General Journal Debit Credit 1 April 01 Cash 37 000 Computer equipment 30 000 67 000 April 02 Rent expense Cash April 03 Orice supplies I Cash 2.000 April 10 Prepaid insurance I Cash 2.600 April 14 Salaries expense Cash 00 00 00 00 00 00 00 00 00 April 24 Cash Commissions earned April 28 Salaries expense 1300 Cash April 29 Repairs expense 400 April 30 Telephone expense Cash 1200 April 30 Dividends Cash 1.800 Reg3 > Prey 1 of 1 Next > search 22 Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Reg SA Reg 5B Req 5C Reg 6A Reg 6B GL Re Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. Credit Debit 37,600 2,000 2,600 30.000 ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title 101: Cash 106. Accounts receivable 124: Office supplies 128Prepaid insurance 167: Computer equipment 168. Accumulated depreciation-Computer equipment 209. Salaries payable 307: Common stock 318: Retained earnings 319. Dividends 405: Commissions earned . 612 Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684 Repairs expense 688: Telephone expense 67,000 1,800 13,000 2,600 1,800 400 1.200 80,000 $ $ 80,000 Prey 1 of 1 re to search DLL re journal entries to close the temporary accounts and then post to Requirement 6b. the journal entries to the ledger. e a post-closing trial balance. * Answer is not complete. lete this question by entering your answers in the tabs below. mnd 2 Reg 3 Req 4 Adi Entries Req 4 Adj Trial Bal Reg 5A Req 5B Req 5C Reg 6A Reg 6B GL Req 7 lize the adjusting entries for the month, and then post to the ledger'n Req 6B tab, using April 30 Adj. as the date. (Do und intermediate calculations and round the final answers to nearest whole number.) Transaction General Journal Debit Credit Insurance expense Prepaid insurance Office Supplies expense Office supplies 1,300 00 00 00 00 C D 600 Depreciation expense-Computer equip Accumulated depreciation Computer equip 600 d. Salaries expense 350 Salaries payable e 2.400 Accounts receivable Commissions earned O 2.400 o i Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Reg 58 Reg 5C Req 6A Reg 6B GL Reg 7 Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title Debit Credit 37,600 2,400 700 2,456 30,000 00 600 350 67.000 101: Cash 106: Accounts receivable 124: Office Supplies 128. Prepaid insurance 167: Computer equipment 168: Accumulated depreciation Computer equipment 209. Salaries payable 307. Common stock 318. Retained earnings 319 Dividends 405 Commissions earned 612 Depreciation expense-Computer equipment 622. Salaries expense 637: Insurance expense 540. Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total 1,800 15.400 600 2.950 144 1,800 1,300 400 1.200 83,350 $ 83.350 ere to search o i e Check my work mode: This shows what is correct or incorrect for the work you ha Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg4 Ad) Entries Reg 4 Adi Trial Bal Red SA Reg 5B Reg 5C Reg 6A Reg 6B GL Reg 7 Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Commissions earned $ Expenses 1.800 2.950 Rent expense Salaries expense Insurance expense Repairs expense Depreciation expense-Computer equip Telephone expense Office supplies expense OOOOOOO 400 600 1,200 1,300 Total expenses Prev 1 of 1 Next to search Orte 922 Check my work mode: This shows what is correct or incorrect for the work you have completed so 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. 5a. 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. 6a. Prepare journal entries to close the temporary accounts and then Isost to Requirement 6b 6. Post the journal entries to the ledger 7. Prepare a post-closing trial balance. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Rea Reg 4 Adj Entries Reg 4 adi Trial Bal Req 5A Reg 5B Reg 5C Reg 6A Reg 68 GL Reg 7 Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 Add: Net income Less Dividends Retained earnings, April 30 7,006 7,006 (1.800) 5 206 $ Check my work mode: This shows what is correct or incorrect for the work you have co Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Re Reg 4 Adi Entries Reg 4 Adi Trial Bal Red SA Reg 5B Req SC Reg 6A Reg 6B GL Reg 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Assets 37.600 700 2.456 Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation-Computer equip Total assets Liabilities Salaries payable (600) 29.400 72.556 S 350 Equity Common stock Retained earnings Total equity Total abities and equity Prey 1 of 1 Next > search Answer is not complete. Complete this question by entering your answers in the tabs below. e 1 and 2 Reg 3 Req 4 Adj Entries Reg 4 Adj Trial al Req SA Reg 5B Reg SC Dre SA Req6B GL Req7 Prepare journal entries to close the temporary accounts and then post to Req 68 General Ledger, using April 30 Close as the date. No Date General Journal Debit Credit 1 15.400 April 30 Commissions earned Income Summary 15.400 April 30 Income summary Depreciation expense Computer equip Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense 000000000000 600 2,950 144 1,800 1300 400 1 200 April 30 7006 Income summary Retained earnings 7006 April 30 1.800 Retained earnings Dividends Prey 1 of 1 !!! Next > Check my work mode: This shows what is correct or incorrect for the work you have completed so far. I do 37.000 April 30 A 2000 OOOOOO 1.800 2000 2600 1300 35 200 33200 30.500 1300 400 1200 1800 42300 41,000 40 600 39.000 37 600 126 Prepaids Balance ce 12: Office Supplies Debit Credit 2.000 1.300 - Date April 3 April 30 A4 0 2.000 April 10 Apr 30 AG 2600 700 Date 168: Ac 167: Computer Equipment Debit Cradle 30 000 - April t ed Depreciation Computer equip Balance Date 307: C 209: Salaries Payable Debit Credit 350 o Stock Balance 350 57000 57000 Proy 1 of 1 Next earch o Be 92 Check my work mode: This shows what is correct or incorrect for the work you have completed 318: Retained Earnings Debit Credit 7006 1800 Balance April 30 Close April 30 Close 7006 Date April 30 Close April 30 319: Dividends Debit Credit 1800 1800 Balance (1.800) Date April 24 April 30 Ad April 30 Close 405: Commissions Earned Debit Credit 13000 2.400 15. 400 Balance 13000 15.400 612: Depreciation Expense Computer Equipment Date Debit Credit Balance April 30 Ad 500 April 30 Close 600 0 0 - Date 22: Salaries Expense Deble Credit Balance - 1,300 2.600 637: Insurance Expense Debit Credit 144 141 Date April 30 AG April 30 Close Balance 1300 350 2,950 Dato Rent Expense Debit Crodh Balance Date April 30 Ad April 30 Close 650: Office Supplies Expense Debit Crede 1.300 1,000 earch O e April 14 April 28 April 30 Adi. April 30 Close 1,300 1,300 350 1,300 2,600 2.950 April 30 Adj April 30 Close 144 2,950 Date April 2 April 30 Close 640: Rent Expense Debit Credit 1,800 1.800 Balance 1.800 650: Office Supplies Expense Debit Credit 1,300 1,300 Date April 30 Adj. April 30 Close Balance 1.300 654: Repairs Expense Debit Credit 400 400 Balance Date April 29 April 30 Close 400 Date April 30 April 30 Close 683: Telephone Expense Debit Credit 1.200 1.200 Balance 1.200 0 Apr 30 Close 901: Income Summary Debit Credit 15,400 8,394 7,006 Balance 15,400 7,006 April 30 Close April 30 Close search 60. 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. & Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Reg 5A Req 5B Req 5C Req 6A Reg 6B GL Rea 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post Closing Trial Balance April 30 Account Title Credit Cash Debit 37,600 2,400 700 30,000 Accounts receivable Office supplies Computer equipment Accumulated depreciation - Computer equip Salaries payable Common stock Retained earnings 600 OOOOOO 350 67.000 5,206 Totals 73.156 search a
