Look Print erences Mc On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. April 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. April 3 The company purchased $1,000 of office supplies for cash. April 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,600 cash for two weeks' salaries earned by employees. April 24 The company collected $8,000 cash for commissions revenue. April 28 The company paid $1,600 cash for two weeks' salaries earned by employees. April 29 The company paid $350 cash for minor repairs to the company's computer. April 30 The company paid $750 cash for this month's telephone bill. April 30 The company paid $1,500 cash in dividends. 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 Equipment 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends Use the following information: a. Prepaid insurance of $133 has expired this month. 405 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 901 Income Summary b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 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. 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. 6a. 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. repare a practicing trial wardice. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. Note: Enter debits before credits. Date April 01 General Journal Debit Credit Record entry Clear entry View general journal Reg 1 and 2 Req 3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 101: Cash 106: Accounts receivable 124: Office supplies ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable. 307: Common stock 318: Retained earnings 319: Dividends 405: 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 Total Debit Credit < Req 1 and 2 Req 4 Adj Entries > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 4 Adj Req 3 Req 4 Adj Entries Trial Bal Req 5A Req 58 Req SC Req 6A Req 6B GL Req 7 Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date. Note: Do not round intermediate calculations and round the final answers to nearest whole number. View transaction list Journal entry worksheet < 1 2 3 4 5 5. Prepaid insurance of $133 has expired this month. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Clear entry Record entry View general journal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. 101: Cash ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 106: Accounts receivable 124: Office supplies ces 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: 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 Total Debit Credit es Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req SA Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare the statement of retained earnings for the month of April 30. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ 0 Retained earnings, April 30 K ences Complete this question by entering your answers in the tabs below. Req 1 and 21 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Total assets Total equity Total liabilities and equity Balance Sheet April 30 ces Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 4 Adj Req 3 Entries Req 4 Adj Trial Bal Req SA Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the date. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date April 30 General Journal Debit Credit Record entry Clear entry View general journal Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req SA Req 5B Req 5C Req 6A Req 6B GL Req 7 Post the journal entries to the ledger. General Ledger accounts 101: Cash Date Debit Credit Balance Date 106: Accounts Receivable Debit Credit Balance Date 124: Office Supplies Debit Credit Balance Date 128: Prepaid Insurance Debit Credit Balance Date 167: Computer Equipment Debit Credit Balance Date 168: Accumulated Depreciation-Computer Equip. Debit Credit Balance Date Date Date Date Date 209: Salaries Payable Debit Credit Balance Date 307: Common Stock Debit Credit Balance Credit Balance Date 319: Dividends Debit Credit Balance 318: Retained Earnings Debit 405: Commissions Revenue Debit Credit Balance Date 612: Depreciation Expense-Computer Equip. Debit. Credit Balance Credit Balance Date: 637: Insurance Expense Debit Credit Balance 622: Salaries Expense Debit 640: Rent Expense Debit 650: Office Supplies Expense Credit Balance Date Debit Credit Balance Assignment i Date Debit Credit Balance Date Debit Credit Balance Date Date. Date 640: Rent Expense Debit Credit Balance Date 650: Office Supplies Expense Debit Credit Balance Credit Balance Date 688: Telephone Expense Debit Credit Balance 684: Repairs Expense Debit 901: Income Summary Debit Credit Balance Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Ball Req 5A Req SB Req 5C Req 6A Req 6B GL Req 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title ces Totals Debit Credit