I need 5a - 7
On April 1, Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. Apri1 1 Nozceti invested $43,680 cash and corputer equipent worth $30, ,6e in the company in exchange for comnon stock. 2. The conpany rented furnished office space by paying $1,709 cash for the first month's (April) rent. 3. The company purchased $1,8e0 of office supplies for cash. 18 The company paid $2,76e cash for the preaium on a 12-month insurance policy. Coverage begins on Apri1 11. 14 The company paid $1,0e0 cash for two weeks" salaries earned by employees. 24. The company collected $17,000 cash for conotissions earned. 26 the company paid $1,960 cash for two weeks" salaries earned by enployees. 29 The cosipany paid saee cash for minon repairs to the conpany's corputer- 30 The conpany paid 51,250 cash for this month's telephone bi11. 30 The company paid $1,7e0 cash in dividends. The company's chart of accounts follows: Use the following information: a. Prepaid insurance of $150 has expired this month. b. At the end of the month, $700 of office supplies are still avallable. c. This month's depreciation on the computer equipment is $400. d. Employees earned $410 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 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. Joumalize 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 . 6 . 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
