Instructions: On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month.

April1Nozomi invested $32,000 cash and computer equipment worth $25,000 in the company in exchange for common stock.

2The company rented furnished office space by paying $2,700 cash for the first month's (April) rent.

3The company purchased $1,500 of office supplies for cash.

10The company paid $2,300 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.

14The company paid $1,400 cash for two weeks' salaries earned by employees.

24The company collected $21,000 cash on commissions from airlines on tickets obtained for customers.

28The company paid $1,400 cash for two weeks' salaries earned by employees.

29The company paid $450 cash for minor repairs to the company's computer.

30The company paid $1,250 cash for this month's telephone bill.

30The company paid $1,700 cash in dividends.

The company's chart of accounts follows:

101 Cash

405 Commissions Earned

106 Accounts Receivable

612 Depreciation ExpenseComputer Equip.

124 Office Supplies

622 Salaries Expense

128 Prepaid Insurance

637 Insurance Expense

167 Computer Equipment

640 Rent Expense

168 Accumulated DepreciationComputer Equip.

650 Office Supplies Expense

209 Salaries Payable

684 Repairs Expense

307 Common Stock

688 Telephone Expense

318 Retained Earnings

901 Income Summary

319 Dividends

Consider the following information:

1. Two-thirds (or $128)of one month's insurance coverage has expired.
2. At the end of the month, $500 of office supplies are still available.
3. This month's depreciation on the computer equipment is $500.
4. Employees earned $320 of unpaid and unrecorded salaries as of month-end.
5. The company earned $2,200 of commissions that are not yet billed at month-end.

Also:

1.& 2.Assist with 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, assist with creating an unadjusted trial balance as of April 30.

4.Show how to journal to post the adjusting entries for the month . Assist with creating the adjusted trial balance.

5a.Show how to prepare the income statement for the month of April 30, 2017.

5b.Show how to prepare the statement of retained earnings for the month of April 30, 2017.

5c.Show how to prepare the balance sheet at April 30, 2017.

6a.Show how to prepare journal entries to close the temporary accounts and then post to Requirement 6b.

6b.Show how to post the journal entries to the ledger.

7. Show how to create a post-closing trial balance.