On April 1, 2015, Jiro Nozomi created a new travel agency, Adventure Travel. The fo e following transactions PROBLEM SET A foccurred during the company's first month. April Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company Problem 4-TA 2 The company rented fumished office space by paying $1,800 cash for the first month's (April) rent. Applying the accounting cycle 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage 1 2 P2 P3 begins on April 11. 14 The company paid $1,600 cash for two weeks' salaries earned by employees. M 24 The company collected $8,000 cash on commissions from airlines on tickets obtained for 28 The company paid $1,600 cash for two weeks' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash from the company for personal use. Page 1 of 2 The company's chart of accounts follows: customers. 201 Cash 2106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip 209 Salaries Payable 22301 J.Nozomi, Capital 3302 . Nonomi, Withdrawal 405 Commissions Earned 612 Depreciation Expense-Computer Equip 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Spense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Required 1. Use the balance column format to set up each lodger account listed in its chart of accounts, 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items in balance sheet accounts. 3. Prepare an unadjusted trial balance as of April 30. Check Uraditi 4. Use the following information to journalize and post adjusting entries for the month: balance tota's, 555,000 a. Two-thirds (or $133) of one month's insurance coverage has expired. 140 De Insurance b. At the end of the month, $600 of office supplies are still available. Expense 5133 C. This month's depreciation on the computer equipment is $500. d. Employees earned 5420 of unpaid and unrecorded salaries as of month-end. Net income e. The company camed $1,750 of commissions that are not yet billed at month-end. $2.197. J. Nom Capital S. Prepare the adjusted trial balance us of April 30. Prepare the income statement and the statement of 1/30/20151, 550,097 Tots owner's equity for the month of April and the balance sheet at April 30, 2015. assets. $51.117 6. Prepare journal entries to close the temporary accounts and post these entries to the ledger. (7) AC trial balance 7. Prepare a post-closing trial balance totals $S1.517 The following unadjusted trial balance is for Ace Construction Co, as of the end of its 2015 fiscal year. Problem 4-ZA The June 30, 2014, credit balance of the owner's capital account was $53,660, and the owner invested Preparing a work sheet $35,000 cash in the company during the 2015 fiscal year. adjusting and closing entries, and financial 3 P1 P2 O On April 1, 2015, Jiro Nozomi created a new travel agency, Adventure Travel. The fo e following transactions PROBLEM SET A foccurred during the company's first month. April Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company Problem 4-TA 2 The company rented fumished office space by paying $1,800 cash for the first month's (April) rent. Applying the accounting cycle 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage 1 2 P2 P3 begins on April 11. 14 The company paid $1,600 cash for two weeks' salaries earned by employees. M 24 The company collected $8,000 cash on commissions from airlines on tickets obtained for 28 The company paid $1,600 cash for two weeks' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash from the company for personal use. Page 1 of 2 The company's chart of accounts follows: customers. 201 Cash 2106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip 209 Salaries Payable 22301 J.Nozomi, Capital 3302 . Nonomi, Withdrawal 405 Commissions Earned 612 Depreciation Expense-Computer Equip 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Spense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Required 1. Use the balance column format to set up each lodger account listed in its chart of accounts, 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items in balance sheet accounts. 3. Prepare an unadjusted trial balance as of April 30. Check Uraditi 4. Use the following information to journalize and post adjusting entries for the month: balance tota's, 555,000 a. Two-thirds (or $133) of one month's insurance coverage has expired. 140 De Insurance b. At the end of the month, $600 of office supplies are still available. Expense 5133 C. This month's depreciation on the computer equipment is $500. d. Employees earned 5420 of unpaid and unrecorded salaries as of month-end. Net income e. The company camed $1,750 of commissions that are not yet billed at month-end. $2.197. J. Nom Capital S. Prepare the adjusted trial balance us of April 30. Prepare the income statement and the statement of 1/30/20151, 550,097 Tots owner's equity for the month of April and the balance sheet at April 30, 2015. assets. $51.117 6. Prepare journal entries to close the temporary accounts and post these entries to the ledger. (7) AC trial balance 7. Prepare a post-closing trial balance totals $S1.517 The following unadjusted trial balance is for Ace Construction Co, as of the end of its 2015 fiscal year. Problem 4-ZA The June 30, 2014, credit balance of the owner's capital account was $53,660, and the owner invested Preparing a work sheet $35,000 cash in the company during the 2015 fiscal year. adjusting and closing entries, and financial 3 P1 P2 O