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I just need help with the general ledger accounts, everything else is complete! d. Employees earned $310 of unpaid and unrecorded salaries as of month-end.
I just need help with the general ledger accounts, everything else is complete!
d. Employees earned $310 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,100 of commissions revenue that is not yet recorded at month-end. Required: 1. \& 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6BGL tab, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, using April 30Adjusted as the date. 5a. Using adjusted account balances from Requirement 6BGL tab, prepare an adjusted trial balance as of April 30. 5b. Prepare the income statement for the month of April 30. 5c. Prepare the statement of retained earnings for the month of April 30. 5d. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6BGL tab, using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. 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 $34,000 cash and computer equipment worth $40,000 in the company in exchange for its common stock. April 3 The conpany rented furnished office space by paying $2,900 cash for the first month's (April) rent. April 4 The company purchased $1,500 of office supplies for cash. April 10 The company paid $1,800 cash for a 12 -month insurance poticy. Coverage begins on April 11 . April 14 The company paid $1,200 cash for two weeks" salaries earned by employees. April 24 The company collected $10,500 cash for commissions revenue. April 28 The company paid $1,260 cash for two weeks' salaries earned by employees. April 29 The company paid $450 cash for minor repairs to computer equipment. April 30 The company paid $1,260 cash for this month's telephone bill. April 30 The company paid $1,590 cash in dividends. The company's chart of accounts follows: Use the following information to prepare adjusting entries: a. Prepaid insurance of $100 expired this month. b. At the end of the month, $500 of office supplies are still available. c. This month's depreciation on computer equipment is $300. \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ ADVENTURE TRAVEL } \\ \hline \multicolumn{2}{|c|}{ Statement of Retained Earnings } \\ \hline \multicolumn{2}{|c|}{ For Month Ended April 30 } \\ \hline Retained earnings, April 1 & $ \\ \hline Add: Net income & 3,940 \\ \hline & 3,940 \\ \hline Less: Dividends & 1,590 \\ \hline Retained earnings, April 30 & $ \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{3}{|c|}{ ADVENTURE TRAVEL } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline \multicolumn{2}{|c|}{ For Month Ended April 30} \\ \hline Revenues: & & \\ \hline Commissions revenue & & 12,600 \\ \hline & & \\ \hline Expenses: & $2,710 & \\ \hline Salaries expense & 2,900 & \\ \hline Rent expense & 450 & \\ \hline Repairs expense & 1,200 & \\ \hline Telephone expense & 100 & \\ \hline Insurance expense & 1,000 & \\ \hline Office supplies expense & 300 & \\ \hline Depreciation expense-Computer equipment & & \\ \hline & & \\ \hline \end{tabular} Step by Step Solution
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