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is this better? Problem 3-5A (Algo) Applying the accounting cycle LO P1, P3, P4, P5, P6 On April 1, Jiro Nozomi created a new travel

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Problem 3-5A (Algo) Applying the accounting cycle LO P1, P3, P4, P5, P6 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 2 Notoni invested $40,000 cash and computer equipment worth $35,000 in the company in exchange for its common stock April 3 The company rented furnished office space by paying $2,500 cash for the first month's (April) rent. April 4 The company purchased $1,300 of office supplies for cash. April 10 The company paid $2,580 cash for a 12 month Insurance policy. Coverage begins on April 11. April 14 The company paid $800 cash for two weeks salaries earned by employees. April 24 The company collected $13,000 cash for commissions revenue April 28 The company paid $800 cash for two weeks' salaries earned by employees April 29 The company paid $300 cash for minor repairs to computer quiprent, April 30 The company paid $1,400 Cash for this month's telephone bill. April The company paid $1,550 cash in dividends. The company's chart of accounts follows: 101 Cash 40 Cossions Revenu 106 Accounts receivable 612 Depreciation Expense.Conte Equipment 124 ore supplies 622 salaries pense 120 Prepaid Insurance 637 serance Ense 167 Computer Equipment Net Expense 100 Accumulated Depreciation Computer Equipment 650 Office Supplies Expense 201 Salaries Payable 634 Repal Expense 37 Co Stack Telephone ne 01 Netained tanning Income Summary 319 Donds Use the following information to prepare adjusting entries o Prepaid inurance of $160 expired this month b. At the end of the month, 5700 of office supplies are still available c. This month's depreciation on computer equipment is 5500 d. Employees earried $410 of unpaid and unrecorded salanes as of montrend .. The company earned $1,650 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 El GL tab The company records prepaid and unearned items in balance sheet accounts 3. Us account balances from Requirement OB GL 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 68 GL tab, using Apr 30 Adjusted as the date 56. Using adjusted account balances from Requirement 68 GL tab prepare an adjusted mat balance as of April 30 5b. Prepare the income statement for the month of April 30. d. Employees earned 5410 of unpaid and unrecorded salaries as of month-end, e. The company earned $1,650 of commissions revenue that is not yet recorded at month-end Required: 1.& 2. Prepare joumal entries to record the transactions for April and post them to ledger accounts in Requirement 68 GL tab The company records prepaid and unearned items in balance sheet accounts 3. Using account balances from Requirement 68 GL 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 30 Adjusted as the date 5o. Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of April 30 5b. Prepare the income statement for the month of April 30, Sc. 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 6B GL tab, using April 30 Close as the date 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 Req3 Reg 4 ReG SA Reg 55 Rec 5C Red 50 Reg 6 Reg 68 GE Reg 7 Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of April 30 Debit Credit ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 101. Cash 106 Accounts receivable 124 Office supplies 126 Prepaidance 167 Computer 16. Numated depreciation Computer open 209 tistes para BoT Cock 31 Rutinari Req 1 and 2 Req3 Req 4 Req 5A Reg 5B Req 50 Req 5D Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted ti ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title Debit Credit 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 403 Commissions revenue 612 Depreciation expense_Computer equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 684 Repairs expense 688 Telephone expense Totals 0 Problem 3-5A (Algo) Applying the accounting cycle LO P1, P3, P4, P5, P6 On April tiro Nozomi created a new travel agency, Adventure Travel The following transactions occurred during the company's first month April 2 Motom invested $,000 cash and computer equipment worth $35,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,500 cash for the first month's (April) rent. April 4 The company purchased $1,300 of office supplies for cash. April 10 The company paid $2,080 cash for a 12-month insurance policy. Coverage begins on April 11. Apell 14 The company paid 5000 cash for two weeks' salaries earned by employees Aprill 24 The company collected $13,000 cash for commissions revenue April 28 The company paid 5300 cash for two weeks' salaries earned by employees. April 29 The company paid $300 cash for minor repairs to computer equipment April 30 The company paid $2,400 cash for this month's telephone bill. April 10 The company paid $1,530 cash in dividends The company's chart of accounts follows 101 Cash 40 Consions Revenue 105 Accounts Receivable 612 Depreciation Expense-Computer Equipment 124 Office Supplies 623 Salaries Expense 126 Prepaid Insurance 637 Insurance Expense 162 Computer Equipment 640 Rent Esponse 168 Accumulated Depreciation Computer Equipment 650 Office Supplies te 209 Salaries Payable 664 Repairs Expense 302 Common Stock 688 Telephone Expense 311 Retained tarnings 901 Income Sundary 319 Dividends Use the following information to prepare adjusting entries a. Prepaid insurance of $160 expired this month b. At the end of the month, 5700 of office supplies are still available c. This month's depreciation on computer equipment is $500. d. Employees earned $410 of unpaid and unrecorded salaries as of month-end e. The company earned $1650 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 uneamed items in balance sheet accounts. 3. Using account balances from Requirement 6B GL 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 30 Adjusted as the date 5o. Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of April 30 5b. Prepare the income statement for the month of April 30

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