On April 1, 2018, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the companys first month. April 1 Nozomi invested $39,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,600 cash for the first month' s (April) rent. 3 The company purchased $1,200 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 $1,400 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 $1,400 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 $1,250 cash for this month's telephone bill. 30 The company paid $2,400 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 DepreciationComputer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation ExpenseComputer Equip. 622 Salaries Expense 637 Insurance Expense

640 Rent Expense 650 Office Supplies Expense 684 Expense Repairs 688 Telephone Expense 901 Income Summary Use the following information: a. Two-thirds (or $167) of one months insurance coverage has expired. b. At the end of the month, $400 of office supplies are still available. c. This months depreciation on the computer equipment is $500. d. Employees earned $310 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,650 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.

Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req7 Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The records prepaid and unearned items in balance sheet accounts. View transaction list View journal entry worksheet No Date General Journal Credit 1 April 01 Cash Debit 39,000 30,000 Computer equipment Common stock 69,000 2 April 02 Rent expense 2,600 Cash 2,600 3 April 03 1,200 Office supplies Cash 1,200 4 April 10 3,000 Prepaid insurance Cash 3,000 5 April 14 1,400 Salaries expense Cash 1,400 6 April 24 Cash 12,000 Commissions earned 12,000 April 28 1,400 Salaries expense Cash 1,400 8 April 29 450 Repairs expense Cash 450 9 April 30 1,250 Telephone expense Cash 1,250 10 April 30 Dividends 2,400 Cash 2,400 Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C RE Using account balances from Requirement 6b, prepare an unadjusted trial balance as of Apr ADVENTURE TRAVEL Unadjusted Trial Balance April 30, 2018 Account Title Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciationComputer 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 $ 0 $ 0 Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Reg 6 Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of Ap intermediate calculations.) Debit Credit ADVENTURE TRAVEL Adjusted Trial Balance April 30, 2018 Account Title 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciationComputer equipment 209: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: Commissions earned 612: Depreciation expenseComputer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total $ $ 0 $ 0 Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Prepare the income statement for the month of April 30, 2018. ADVENTURE TRAVEL Income Statement For Month Ended April 30, 2018 Revenues: Expenses: Total expenses 0 $ 0 Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 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 S 0 0 Retained earnings, April 30, 2018 $ 0 Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Red Prepare the balance sheet at April 30, 2018. ADVENTURE TRAVEL Balance Sheet April 30, 2018 0 Total assets $ 0 0 Total equity Total liabilities and equity $ 0 Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Reg 6 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, usi View transaction list View journal entry worksheet No Date General Journal Debit 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 Req 7 Post the journal entries to the ledger. General Ledger accounts Cash Accounts Receivable Debit Credit Date Debit Credit Balance Date Balance Office Supplies Debit Credit Prepaid Insurance Debit Credit Date Balance Date Balance Computer Equipment Debit Credit Accumulated Depreciation-Computer equipm Debit Credit Balance Date Balance Date Salaries Payable Debit Credit Common Stock Debit Credit Date Balance Date Balance Retained Earnings Debit Credit Dividends Debit Credit Date Balance Date Balance Commissions earned Debit Credit Depreciation Expense-Computer Equipment Date Debit Credit Balance Date Balance Salaries Expense Debit Credit Insurance Expense Debit Credit Date Balance Date Balance Rent Expense Debit Credit Office Supplies Expense Debit Credit Date Balance Date Balance Repairs Expense Debit Credit Telephone Expense Debit Credit Date Balance Date Balance Income Summary Debit Credit Date Balance Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Red Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30, 2018 Account Title Debit Credit Totals $ 0 $ 0