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 $49,000 cash and computer equipment worth $35,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,000 cash for the first month's (April) rent. April 4 The company purchased $1,200 of office supplies for cash. April 10 The company paid $1,980 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,700 cash for two weeks' salaries earned by employees. April 24 The company collected $10,500 cash for commissions revenue. April 28 The company paid $1,700 cash for two weeks' salaries earned by employees. April 29 The company paid $500 cash for minor repairs to computer equipment. April 30 The company paid $1,100 cash for this month's telephone bill. April 30 The company paid $1,510 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 Equipment 209 Salaries Payable. 307 Common Stock 318 Retained Earnings 319 Dividends. Use the following information to prepare adjusting entries: 403 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense 637 Insurance Expense. 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense. 901 Income Summary 16/ Computer Equipment 168 Accumulated Depreciation-Computer Equipment 209 Salaries Payable. 307 Common Stock 318 Retained Earnings 319 Dividends Use the following information to prepare adjusting entries: a. Prepaid insurance of $110 expired this month. 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense. 901 Income Summary b. At the end of the month, $400 of office supplies are still available. c. This month's depreciation on computer equipment is $300. d. Employees earned $360 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,300 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 Requirement 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6B GL tab, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Requirement 68 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 retained earnings 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 Requirement 6B GL tab, using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Journal entry worksheet 2 3 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date April 30 General Journal Debit Credit Record entry Clear entry View general journal Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, using Apri View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the expense account(s). Note: Enter debits before credits. Date April 30 General Journal Debit Credit Office supplies Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, using Ap View transaction list Journal entry worksheet 1 2 3 Record the entry to close the income summary. Note: Enter debits before credits. Date April 30 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close the dividends account. Note: Enter debits before credits. Date April 30 General Journal Debit Credit Record entry Clear entry View general journal Date April 30 Adjusted Date April 30 Close April 30 Close Date April 241 April 30 Adjusted 209: Salaries Payable Debit Credit Balance Date 360 360 April 2 April 30 318: Retained Earnings Debit Credit Balance 4,230 4,230 1,510 2,720 403: Commissions Revenue Debit 307: Common Stock Debit Credit 84,000 Balance 84,000 319: Dividends Date Debit Credit Balance 612: Depreciation Expense-Computer Equipment Credit 10,500 2,300 Balance Date 10,500 April 30 Adjusted 12,800 April 30 Close 00 Debit 300 Credit 300 Balance 300 0 April 3 Date April 30 Close 640: Rent Expense Debit 2,000 Date April 29 April 30 Close April 30 Date Credit Balance Date 2,000 April 30 2,000 0 April 30 Close 684: Repairs Expense Debit 500 Credit Balance Date 500 April 30 500 0 April 30 Close 901: Income Summary Debit April 30 Adjusted 8,570 April 30 Close 4,230 Credit Balance 12,800 12,800 4,230 0 650: Office Supplies Expense Debit Credit Balance 800 80 688: Telephone Expense Debit 1,100 800 Credit Balance 1,10 1,100