On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the companys first month.

Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozomi invested $44,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,700 cash for the first month's (April) rent. 3 The company purchased $1,100 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11 14 The company paid $1,500 cash for two weeks' salaries earned by employees. 24 The company collected $20,500 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,500 cash for two weeks' salaries earned by employees. 29 The company paid $450 cash for minor repairs to the company's computer. 30 The company paid $900 cash for this month's telephone bill. 30 The company paid $1,900 cash in dividends. The company's chart of accounts follows 405Commissions Earned 612 Depreciation Expense-Computer Equip 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earning:s 319 Dividends Req 4 Adj Entries Req 4 Adj Trial Bal Req 3 Req 5A Req 5B Req 5C Req 6AReq 6B GL Req 7 Req 1 and 2 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 30, 2017 Account Title Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation Computer equipment 209: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: Commissions earned 612: Depreciation expense-Computer equipment 622: Salaries expense 637. Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total Complete this question by entering your answers in the tabs below. Req 4 AdjReq 4 Adj Trial Bal Req 5A Req 7 Req 1 and 2 Req 3 Req 5B Req 5C Req 6A Req 6B GL Entries Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date View transaction list Journal entry worksheet 2 4 5 Two-thirds (or $133) of one month's insurance coverage has expired Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry Req 4 Adj Entries Req 4 Adj Trial Bal Req 6A Req 6B GL Req 1 and 2 Req 3 Req 5A Req 5B Req 5C Req 7 Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date View transaction list Import a new list Two-thirds (or $133) of one month's insurance coverage has expired. 1 At the end of the month, $400 of office supplies are still available 2 This month's depreciation on the computer equipment is $600 3 Credit Employees earned $500 of unpaid and unrecorded salaries as of month-end 4 The company earned $1,700 of commissions that are not yet billed at month-end. 5 Note journal entry has been entered Clear entry Record entry View general journal Req 4 Adj Entries Req 4 Adj Trial Bal Req 6A Req 6B G Req 1 and 2Req 3 Req 5B Req 5C Req 7 Req 5A Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. (Do not round intermediate calculations.) ADVENTURE TRAVEL Adjusted Trial Balance April 30, 2017 Account Title Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation Computer equipment 209: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: Commissions earned 612: Depreciation expense-Computer equipment 622: Salaries expense 637. insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total Req 4 Adj Trial Bal Req 3Req 4 Adj Req 5AReq 5 Req 5C Req 6A Req 6B GLReq 7 Req 1 and 2 Entries Prepare the income statement for the month of April 30, 2017 ADVENTURE TRAVE ncome Statement For Month Ended April 30, 2017 Revenues Expenses: Total expenses Req 4 Adj Trial Bal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3Re 4 Adj Req 4 Ad Req 5AReq 5BReq 5C Req 6A Req 6B GLReq 7 Trial Bal Prepare the statement of retained earnings for the month of April 30, 2017. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30, 2017 Retained earnings, April 1, 2017 0 14,217 14,217 $14,217 Retained earnings, April 30, 2017 Req 5A Complete this question by entering your answers in the tabs below. Req 4 Adj Req 4 Ad Req 5AReq 5BReq 5C Req 6A Req 6B GLReq 7 Req 1 and 2 Req 3 Prepare the balance sheet at April 30, 2017. ADVENTURE TRAVEL Balance Sheet April 30, 2017 0 0 Total assets Total equity Total liabilities and equity 0 Req 5B Req 6A Complete this question by entering your answers in the tabs below. Req 4 Adj Req 3Req 4 Adj Req 5AReq 5B Req 5C Req 6A Req 6B GLReq 7 Req 1 and 2 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the View transaction list Import a new list 1 Record the entry to close revenue account(s). 2 Record the entry to close expense account(s) 3 Record the entry to close income summary. 4 Record the entry to close the withdrawals account. Credit Note: Journal entry has been entered View general journal Record entry Clear entry Complete this question by entering your answers in the tabs below. Req 4 Adj Req 3Req 4 Adj Req 5AReq 5B Req 5C Req 6A Req 6B GLReq 7 Req 1 and 2 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the View transaction list Import a new list 1 Record the entry to close revenue account(s). 2 Record the entry to close expense account(s) 3 Record the entry to close income summary. 4 Record the entry to close the withdrawals account. Credit Note: Journal entry has been entered View general journal Record entry Clear entry Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial Bal Req 7 3 Req 1 and 2 Req Req 5A Req 5B Req 5C Req 6AReq 6B GL Post the journal entries to the ledger. If there is more than one transaction on a specific date, make sure to select the specific for that transaction in the date field General Ledger accounts Cash Accounts Receivable Debit Debit Date Credit Balance Date Credit Balance Office Supplies Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance Computer Equipment Accumulated Depreciation-Computer equipment Office Supplies Prepaid Insurance Debit Date Date Debit Credit Balance Credit Balance Computer Equipment Accumulated Depreciation-Computer equipment Credit Date Debit Credit Balance Date Debit Balance Salaries Payable Common Stock Date Debit Credit Balance Date Debit Credit Balance Retained Earnings Dividends Date Debit Credit Balance Date Debit Credit Balance Salaries Expense Insurance Expense Credit Balance Credit Date Debit Date Debit Balance Rent Expense Office Supplies Expense Credit Date Date Debit Credit Balance Debit Balance Repairs Expense Telephone Expense Credit Credit Date Debit Balance Date Debit Balance Income Summary Date Debit Credit Balance Req 6A Req 7 Salaries Expense Insurance Expense Credit Balance Credit Date Debit Date Debit Balance Rent Expense Office Supplies Expense Credit Date Date Debit Credit Balance Debit Balance Repairs Expense Telephone Expense Credit Credit Date Debit Balance Date Debit Balance Income Summary Date Debit Credit Balance Req 6A Req 7 Req 4 AdjReq 4 Adj Entries Trial Bal Req 5A Req 1 and 2 Req 3 Req 5B Req 5C Req 6A Req 6B GLReq 7 ADVENTURE TRAVEL Post-Closing Trial Balance April 30, 2017 Account Title Debit Credit Totals