Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i just need these last 2 parts Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Reg 5B

i just need these last 2 parts
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Reg 5B Req 5C Req 6A Req Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 0 Total assets 0 0 Total equity Total liabilities and equity 0 DO PARA Iproy Nav Exam Saved On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's firs month OOR April 1 Nozoni invested $38,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2. The company rented furnished office space by paying $1,900 cash for the first month's (April) rent. 3 The company purchased $1,400 of office supplies for cash 10 The company paid $2,300 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,000 cash for two weeks! salaries earned by enployees. 24 The company collected $15,000 cash for commissions earned. 28 The company paid $1,000 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the company's computer. 30 The company paid $1,100 cash for this month's telephone bill. 30 The company paid $2,100 cash in dividends. int rences 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 307 Common 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 638 Telephone Expense 901 Income Summary Use the following information: o. Prepaid insurance of $128 has expired this month. b. At the end of the month. $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $400 Use the following information: a. Prepaid insurance of $128 has expired this month. b. At the end of the month $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $400. d. Employees earned $350 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,300 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. 50. 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. 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. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Ad) Entries Req 4 Ad) Trial Bal Req 5A Req 5B Reg 5C Req 6A Reg 6B GL Reg 7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance Debit Credit Record the entry to close the revenue account(s). Req6B GL > 2 Record the entry to close the expense account(s). 3 Record the entry to close the income summary, 4 Record the entry to close the dividends account. Note: journal entry has been entered

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

Issues In Management Accounting

Authors: Trevor Hopper, Robert W. Scapens, Deryl Northcott

3rd Edition

0273702572, 978-0273702573

More Books

Students also viewed these Accounting questions

Question

What is Subpart F income and how is it taxed?

Answered: 1 week ago

Question

1. Explain what is meant by ethical behavior.

Answered: 1 week ago