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Need Balance sheet On April 1, Rick Mitchell created a new travel agency, Mitchell Travel. The following transactions occurred during the company's f month. April
Need Balance sheet
On April 1, Rick Mitchell created a new travel agency, Mitchell Travel. The following transactions occurred during the company's f month. April 2 Mitchell invested $38,000 cash and computer equipment worth $18,600 in the company. April 3 The company rented furnished office space by paying $2,200 cash for the first month's (Aprit) rent. April 4 The company purchased $2,200 of office supplies for cash. April 10 The company paid $1,800 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,540 cash for two weeks' salaries earned by employees. April 24 The company collected $16,000 cash for commissions revenue. April 28 The company paid $1,540 cash for two weeks' salaries earned by employees. April 29 The company paid \$65e cash for ninor repairs to computer equipment. April 30 The company paid $650 cash for this month's telephone bill. April 30 Mitchell withdrew $1,700 cash from the company for personai use. Information for month-end adjustments follows: a. Prepaid insurance of $100 expired this month. b. At the end of the month, $650 of office supplies are still available. c. This month's depreciation on computer equipment is $310. d. Employees earned $616 of unpaid and unrecorded salaries as of month.end. e. The company earned $1,850 of commissions revenue that is not yet recorded at month-end. Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection Step by Step Solution
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