Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help filling in the blank. I do not own copy rights. 33 Nozom 1 watharew $2,403 cash from the company for personat use. The

need help filling in the blank.
I do not own copy rights.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
33 Nozom 1 watharew $2,403 cash from the company for personat use. The company's chart of accounts follows. Use the following information: 7. Prepald ineurance of $117 hise expired this month. b. At the end of the month, $600 of office supplles are still avaliable. c. This month's depreciation on the computer equipment is $600. d. Employees eamed $510 of unpald and unrecorded salaries as of month-end. e. The company carned $2,500 of commisstons that are not yet billed at month-end Required: 1. \& 2. Preparejournal entries to record the transactions for Apritand 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. Propare the stotement of owner's equity for the month of April 30. Sc. 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. Complete this question by entering your answers in the tabs below. Post the journal entries to the ledger: 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 $39,000 cash and computer equipment worth $20,000 in the company. 2 The company rented furnished office space by paying $2,200 cash for the 1 irst month's (ApriU) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid $2,100 cash for the premiun on a 12 -month insurance policy. Coverage begins on April 11 . 14 The company paid $1,200 cash for two weeks' sataries earned by employees. 24 The company collected $10,500 cash for consissions earned. 28 The company paid $1,200 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the conpany's computer. 30 The company paid $1,200 cash for this month's telephone bill. 30 Nozoni withdrew $2,400 cash from the conpany for personal use. The company's chart of accounts follows: Use the following information: a. Prepaid insurance of $117 has expired this month. b. At the end of the month, $600 of office supplies are still avallable. c. This month's depreciation on the computer equipment is $600. d. Employees earned $510 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,500 of commissions that are not yet billed at month-end. Required: 1.82. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Murder Audit

Authors: Michelle Cornish

1st Edition

1775083624, 978-1775083627

More Books

Students also viewed these Accounting questions