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On Apel Jo Nozomi created a new travel agency, Adventure Travel The following transactions occurred during the company's first month April 2 Nozol invented $4.0
On Apel Jo Nozomi created a new travel agency, Adventure Travel The following transactions occurred during the company's first month April 2 Nozol invented $4.0 cash and computer cent worth $35.000 in the company April the company rente furnished office space by paying $1,9 cash for the first mont's (April) rent. April * The company purchased 31. of office supplies for cash. Apr 10 The company paid $2.0 cash for a 1-month insurance policy. Coverage begins on April 11. Apell ta the company al 31.109 cash for two weeks salaries earned ty ceployees, April 4 The company collected 9, cash for ons revenue. April. The company id $1,100 cash for two weeks salaries earned by employees. April the company paid $500 cash for winor repairs to computer equipment. April the company paid $1,150 cash for this enth's telephone bill. April Norwit New 2,20 cail from the company for personal use. The company's chart of accounts follows. 101 Cash 10) Cissions Revenue 10 Accounts Receivable 612 Depreciation Expense-Computer Equipment 14 ottice Supplies 623 Salaries Expense 133 Prepaid Insurance 63) Insurance Expense 167 Computer Equiset Rent pense 168 Accumulated Depreciation computer Equipment 650 Office Supplies Expense 205 Salaries Payable 684 Repairs Expense 101) Nezal, Capital 653 Telephone Expense 303). Natonl, Nithdrawals 901 Income Summary Use the following information to prepare adjusting entries a Prepaid insurance of $161 expired this month b. At the end of the month $600 of office supplies are still available c. This month's depreciation on computer equipment is $400. d. Employees earned $550 of unpaid and unrecorded salaties as of month-end e. The company earned $2.050 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 Reg 68 GL. tab. The company records prepaid and unearned items in balance sheet accounts 3. Using account balances from Requirement 65, prepare an unadjusted trial balance as of April 30 4. Joumalize the adjusting entries for the month, and then post to the lediger on Reg 68 tab, using April 30 Adjusted as the date 5a. Using adjusted account balances from Reg 6B GL tab, prepare an adjusted trial balance as of April 30, 5b. Prepare the income statement for the month of April 30 5c. Prepare the statement of owner's equity for the month of April 30 5d. Prepare the balance sheet at April 30 60. Prepare journal entries to close the temporary accounts and then post to Reg 6B GL tab, using April 30 Close as the date
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