On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozomi invested $45,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,500 cash for the first month's (April) rent. The company purchased $1,700 of office supplies for cash. 10 The company paid $2,600 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for r two weeks' salaries earned by employees. 24 The company collected $13,000 cash for commissions earned. 28 The company paid $1,700 cash for two weeks salaries earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 36 The company paid $1,350 cash for this month's telephone bill. 38 The company paid $2,100 cash in dividends. The company's chart of accounts follows: 101 Cash 186 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. Prepaid insurance of $144 has expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $400. d. Employees earned $380 of unpaid and unrecorded salaries as of month-end. e. The company eamed $1,800 of commissions that are not yet billed at month-end. 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. 5b. Prepare the statement of retained earnings for the month of April 30 5c. Prepare the balance sheet at April 30. 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. Check my work Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 58 Req 5C Req GA Req 68 GL Req 7 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. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 9 10 > Nozomi invested $45,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. Note: Enter debits before credits. 4 Red 1 and 2 Req3 Entries Reg 4 A Trial Bal Reg SA Reg 50 RSC RGA RG Beg7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 301 Account Tille 101: Cash 100 Acounts receivable 124 Office supples 128 Prepaid insurance 167 Computer equipment 16 Accumulated depreciation-Computer equipment 209 Salaries payable 307 Common stock 318 Retained earnings 319 Dividends 406 Commissions eamed 012 Depreciation expense-Computer equipment 622 Salaries expense 637 Insurance expense 640: Rent expense 650 Office supplies expense 604 Repairs expense 688 Telephone expense Total Debit Cred $ *** Check my work Res 1 and 2 Reg 3 Reg Adj Req 4 Ad Endes Trial a Reg SA Req 58 Reg SC Reg A Reg Joumalize the adjusting entries for the month, and then post to the ledger on Req 6 tab, using April 30 Adj. as the date. (Do not round intermediate calculations and round the final answers to nearest whole number) Journal entry worksheet < Prepaid insurance of $144 has expired this month. Transaction General Journal Deb Credit Record entry Clear entry View general journal Help Save & Exil Submit Check my work Reg 1 and 2 Reg 3 Reg 4 Adj leo Ad Entries Tal Reg SA Req 58 Reg SC Req RGBGL Re7 Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title Debit Credit 101 Cash 106 Accounts receivable 124 Office supplies 128 Prepaid insurance i 167: Computer equipment 168 Accumulated depreciation-Computer equipment 200 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 668 Telephone expense Total $ SA > Res 1 and 2 Re3 Req 4 Adj Entries Reg 4 Ad Trial Bal REGISA 56 Reg SC Req6 Reg 68 GL Reg Prepare the income statement for the month of April 30, ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Expenses Total expenses A Trial Bal Submit Check my work Book 01 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. Print 0 Req 1 and 2 Req 3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A ReqTSB Req 5C Req 6A Req 68 GL Req 7 Ferences Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ 0 o Retained earnings, April 30 $ 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 58 Reg SC Req 6A Req 68 GL Req 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets $ 0 Prev 1 of 1 Next Book Pri Reg 1 and 2 Reg 3 Req SA Req 58 Req 5C Req 6A Req 68 GL Req 7 Entries Trial Bal Prepare journal entries to close the temporary accounts and then post to Req 68 General Ledger, using April 30 Close as the date. View transaction list Journal entry worksheet < 2 4 D rences 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 100 Me 1 General Ledger accounts Date 18 Cash Debit Credit Balance Date Data 124 Office Suppl Debit Dete 106: Accounts Receivable Deb Credit Balance Credit Balance Date 128 Prepaid Insurance Debit Credi Balance 167 Computer Equipment Deb Credit Balance Date Debi 188: Accumulated Depreciation-Computer equipment Credit Balance Check my work Check my work 1 Date Dub Credit Balance Date Debit Credit Balance Date Clate Date 318 Retained Eamings Debit 313: Dividends Credit Balance Date Debit Credt Balance 405 Commissions Earned Debit 612 Depreciation Expense-Computer Equipment Credit Balance Date 22: Salaries Expense Det Debit Credit Balance 637 Insurance Expense Credit Balance Cate Debit Cred Balance aunting Cycle Project 1 D Date Gate Date 040 Rent Expense Debit Saved Credit Balance Date 44 Repairs Expense Deb 650: Office Supplies Expense Debil Credit Balance 688 Telephone Expense Credit Balance Date Deb Credit Balance 901. Income Summary De Cred Balance 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 GL Req 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 301 Totals Account Title Debit Credit $ $ 0