On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company first month 1 Nozomi invested $36,000 cash and computer equipment worth $20, e00 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,900 cash for the first month's (April) rent. 3 The company purchased $1,100 of office supplies for cash. 10 The company paid $3,000 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $80e0 cash for two weeks salaries earned by employees. April 24 The company collected $17,00e cash on commissions from airlines on tickets obtained for custono 28 The company paid $88e cash for two weeks salaries earned by employees. 29 The company paid $300 cash for minor repairs to the company's computer. 30 The company paid $1,20e cash for this month's telephone bill. 30 paid $2,000 cash in dividends. com The company's chart of accounts follows: 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 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 Earnings 319 Dividends 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Prey Next 1 of 1 319 Dividends Use the following information: a. Two-thirds (or $167) of one month's insurance coverage has expired. b.At the end of the month, $400 of office supplies are still available. c. This month's depreciation on the computer equipment is $400 d. Employees earned $570 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,250 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and 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 and post the adjusting entries for the month and prepare the adjusted trial balance 50. Prepare the income statement for the month of April 30, 2017. 5b. Prepare the statement of retained earnings for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 60. 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. Next 1 of Prey Journal entry worksheet 5 6 8 10 2 3 4 7 1 Nozomi invested $36,000 cash,and computer equipment worth $20,000 in the company in exchange for common stock. Note: Enter debits before credits. Credit Debit General Journal Date April 01 View general journal Clear entry Record entry Saved n Journal entry worksheet 9 10 6 4 5 3
