multiple steps
On April 1, Paula Parker created a new travel agency. Parker Travel. The following transactions occurred during the company's first month. Apri1 2 Parker invested $41,000 cash and computer equipment worth $20,400 in the company. April 3 The company rented furnished office space by paying $2,500 cash for the first month's (Apri1) rent. April 4 The company purchased $1,400 of office supplies for cash. Apri1 10 The company paid $2,880 cash for a 12-nonth insurance policy. Coverage begins on April 11. Apri1 14 The conpany paid $1,960 cash for two weeks' salaries earned by eoployees. April 24 The compeny collected $22,000 cash for comissions revenue. April 28 The company paid $1,960 cash for tue weeks' salaries earned by enployees. April 29 The company paid $650 cash for minor repairs to computer equipment. April 30 The company paid $450 cash for this nonth's telephone bill. April 30 Parker withdrew $2,000 cash fros the coepany for personal use. Information for month-end adjustments follows: 0. Prepaid insurance of $160 expired this month. b. At the end of the month, $800 of office supplies are still avallable c. This month's depreciation on computer equipment is $340. d. Employees earned $784 of unpald and unrecorded salaries as of month-end. e. The company earned $1,780 of commissions revenue that is not yet recorded at month-end General Journal tab - Prepare journal entries for Parker Travel's first month of operations. Prepare any necessary adjusting and dosing entries for the current month. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-dosing balances. Irial Balance tab - You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab-Use the drop-downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Statement of Owner's Equity tab - The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properiy induded on the balance sheet. The unadjusted, adjusted or post-dosing balances will appear for each account, based on your selection. post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance
