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 $30,000 cash and computer equipment worth $20,000 in the company. 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,600 cash for two weeks' salaries earned by employees. 24 The company collected $8,000 cash for commissions earned. 28 The company paid $1,600 cash for two weeks salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 cash for this month's telephone bill. 30 Nozomi withdrew $1,500 cash from the company for personal use. The company's chart of accounts follows. 101 Cash 106 Accounts Receivable 124 Orlice Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation Computer Equip. 209 Salaries Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals 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: ok a. Prepaid insurance of $133 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 $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end, e. The company earned $1,750 of commissions that are not yet billed at month-end. aces 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, 5b. Prepare the statement of owner's equity for the month of April 30. Sc. 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. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 301:J. Nozomi, Capital 302: J. Nozomi, Withdrawals 405: Commissions eamed 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 ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title Debit Credit 5 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation--Computer equipment 209: Salaries payable 301: J. Nozomi, Capital 302: J. Nozomi, Withdrawals 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 ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses 0 $ 0 ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30 J. Nozomi, Capital, April 1 $ 0 0 J. Nozomi, Capital, April 30 $ 0 ADVENTURE TRAVEL Balance Sheet April 30 0 Total assets $ 0 Total liabilities and equity $0 Journal entry worksheet Record the entry to close revenue account(s). Note: Enter debits before credits. Debit Credit Date April 30 General Journal + Record the entry to close expense account(s). Note: Enter debits before credits General Journal Debit Credit Date April 30 1 2 3 4 > Record the entry to close income summary. Note: Enter debits before credits. Date General Journal Debit Credit April 30 Record the entry to close the withdrawals account. Note: Enter debits before credits. General Journal Date April 30 Debit Credit General Ledger accounts Cash Date Accounts Receivable Debit Credit Debit Credit Balance Date Balance inces Office Supplies Debit Credit Date Balanco Prepaid Insurance Debit Credit Date Balance Comita Computer Equipment Debit Credit Accumulated Depreciation--Computer equipment Debit Credit Balance Date Balance Date Salaries Payable Debit Credit J. Nozomi, Capital Debit Credit Dato Balance Date Balance J. Nozomi, Withdrawals Debit Credit Commissions earned Debit Credit Date Balance Date Balance Depreciation Expense-Computer Equipment Date Debit Credit Balance Salaries Expense Debit Credit Date Balance Insurance Expense Debit Credit Date Rent Expense Debit Credit Balance Date Balance Office Supplies Expense Debit Credit Date Balance Repairs Expense Debit Credit Dato Balance Telephone Expense Debit Credit Date Balance Income Summary Debit Credit Date Balance ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals 0 $ 0