On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 2 Nozomi invested $38,000 cash and computer equipment worth $35,000 in the company. April 3 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. April 4 The company purchased $1,000 of office supplies for cash. Apr 11 10 The company paid $2,500 cash for a 12-inonth insurance policy. Coverage begins on April 11. April 14 The company paid $1,100 cash for two weeks' salaries earned by employees. April 24 The company collected $9,500 cash for commissions revenue. April 28 The company paid $1,100 cash for two weeks salaries earned by employees April 29 The company paid $550 cash for minor repairs to computer equipment. April 30 The company paid $1,000 cash for this month's telephone bill. April 30 Noto withdrew $1,800 cash from the company for personal use. The company's chart of accounts follows: ces 101 Cash 40) Commissions Revenge 106 Accounts Receivable 612 Depreciation Expense-Computer Equipment 124 ottice Supplies 622 salaries Expense 126 Prepaid Insurance 637 Insurance Expense 167 Computer Iquipment 640 Nent Expense 168 Accumulated Depreciation Computer Equipment 650 Office Supplies Expense 209 Salaries Payable 684 Repairs Expense 301 J. Nonomi. Capital 688 Telephone Expense 302 J. Nozomi, withdrawals 901 Income Summary Use the following information to prepare adjusting entries: a. Prepaid insurance of $139 expired this month. b. At the end of the month, $600 of office supplies are still available c. This month's depreciation on computer equipment is $600. Use the following information to prepare adjusting entries: a. Prepaid insurance of $139 expired this month. b. At the end of the month $600 of office supplies are still available. c. This month's depreciation on computer equipment is $600. d. Employees earned $550 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,000 of commissions revenue that is not yet recorded at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Reg 6B GL tab. 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 then post to the ledger on Req 6B tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Reg 6B GL tab, prepare an adjusted trial balance as of April 30. 5b. Prepare the income statement for the month of April 30. 5c. Prepare the statement of owner's equity for the month of April 30. 5d. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Reg 68 GL tab, using April 30 Close as the date. 66. 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. Reg 1 and 2 Reg 3 Reg 4 Reg 5A Reg 58 Reg 5C Req 5D Reg 6A Reg 68 GL Reg 2 Prepare tournal entries to record the transactions for Anrit and not them to ledaer acounts in Red 68 GE tahThe comnany records Prey 1 of 2 Next >
