On April 1, 2018, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $47,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. 3 The company purchased $1,600 of office supplies for cash. 10 The company paid $2,200 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $900 cash for two weeks' salaries earned by employees. 24 The company collected $12,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $900 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 $950 cash for this month's telephone bill. 30 The company paid $2,300 cash in dividends. The company's chart of accounts follows: 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 405 Commissions 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 Use the following information: a. Two-thirds (or $122) of one month's Insurance coverage has expired. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $570 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,450 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. Prev 1 of 1 Next ces Use the following information: a. Two-thirds (or $122) of one month's insurance coverage has expired. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $570 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,450 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 the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2018. 5b. Prepare the statement of retained earnings for the month of April 30, 2018. 5c. Prepare the balance sheet at April 30, 2018. 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. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req SA Req 3 Req 5C Req 6A Req 6B GL Req 7 Prepare the statement of retained earnings for the month of April 30, 2018. ADVENTURE TRAVEL Statement of Retained Earnings Req 1 and 2 eq 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req SC Req 6A Req 6E Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 30, 2018 Account Title Debit Credit 101: Cash ces 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 Prov 1 of 1 Complete is questi vy enemy your at Laus veIUW. Req 1 and 2 Req 3 Entries Req 4 Adj Req 4 Adj Trial Bal Req 5A Req 58 Req 5C Req 6A Req 6B GL Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. (Do not ro Intermediate calculations.) 101: Cash ces ADVENTURE TRAVEL Adjusted Trial Balance April 30, 2018 Account Title. 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 Debit Credit Complete uns quesuvi by entering your BS III IC LOUS UCIUW. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Prepare the income statement for the month of April 30, 2018. ADVENTURE TRAVEL Income Statement For Month Ended April 30, 2018 ok Revenues: nces Expenses: Total expenses 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, 2018. 5b. Prepare the statement of retained earnings for the month of April 30, 2018. 5c. Prepare the balance sheet at April 30, 2018. 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. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B Prepare the statement of retained earnings for the month of April 30, 2018. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30, 2018 Retained earnings, April 1, 2018 $ Retained earnings, April 30, 2018 < Req 5A Req 5C > es Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A R Prepare the balance sheet at April 30, 2018. ADVENTURE TRAVEL Balance Sheet April 30, 2018 Total assets Total equity Total liabilities and equity < Roq 5B Req 6A > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 68 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using Apr View transaction list 1 Record the entry to close the revenue account(s). 2 Record the entry to close the expense account(s). i 3 Record the entry to close the income summary. 4 Record the entry to close the withdrawals account. Note: journal entry has been entered Credit Post the journal entries to the ledger. General Ledger accounts Cash Date: Debit Credit Balance Accounts Receivable Date Debit Credit Balance Date Office Supplies Debit Credit Balance Date Prepaid Insurance Debit Credit Balance Computer Equipment Date Debit Credit Balance Date: Debit Accumulated Depreciation-Computer equipment Balance Credit Salaries Payable Date: Debit Common Stock Credit Balance Datel Debit Credit Balance Retained Earnings Dividends Date Debit Credit Balance. Date Debit Credit Balance Commissions earned Date Debit Credit Balance Date Depreciation Expense-Computer Equipment Debit Credit Balance Salaries Expense Insurance Expense Date Debit Credit Balance Date Debit Credit Balance Prev 1 of 1 Next Rent Expense Date Debit Credit Balance Date Office Supplies Expense Debit Credit Balance Repairs Expense Telephone Expense Date Debit Credit Balance Date Debit Credit Balance Income Summary Date Debit Credit Balance < Req 6A Req 7 > + bok ences Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req SC Req 6A Req 6B Prepare a post-closing trial balance. Totals ADVENTURE TRAVEL Post-Closing Trial Balance April 30, 2018 Account Title Debit Credit < Req 6B GL Req 7 >