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 $36,000 cash and computer equipment worth $35,000 in the company. April 3 The company rented furnished office space by paying $2,800 cash for the first month's (April) rent. April 4 The company purchased $1,300 of office supplies for cash. April 10 The company paid $2,200 cash for a 12-month 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 $12,000 cash for commissions revenue. April 28 The company paid $1,100 cash for two weeks' salaries earned by employees. April 29 The company paid $400 cash for minor repairs to computer equipment. April 30 The company paid $1,350 cash for this month's telephone bill. April 30 Nozomi withdrew $1,900 cash from the company for personal use. 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 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals Use the following information to prepare adjusting entries: a. Prepaid insurance of $122 expired this month. 403 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 901 Telephone Expense Income Summary b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $340 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,550 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 Req 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. 168 Accumulated Depreciation-Computer Equipment 209 Salaries Payable 301 J. Nozomi, Capital 382 J. Nozomi, Withdrawals Use the following information to prepare adjusting entries: a. Prepaid insurance of $122 expired this month. 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $340 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,550 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 Req 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 68 tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 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 Req 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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare journal entries to record the transactions for April and post them to ledger accounts in Req 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. Req 1 and 2 Req 3 Req 4 Req 5A Req 58 Req SC Req 5D Req 6A Req 6B GL Req 7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title 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 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 Total Req 1 and 2 Debit Credit $ 36,000 $ 36,000 $ Req 4 > Req 1 and 2 Req 3 Req 4 Req 5 Req 5B Req 5C Req 5D Req 6A Req 6B GL Using adjusted account balances from Req 6B GL tab, prepare an adjusted trial balance as of April 30. ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 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 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 Total Debit Credit 700 700 $ 0 < Req 4 Req 58 > Etivity- A/Cycle Review Saved rtion ane hai tame tet tatha - 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. Req 1 and 2 Req 3 Req 4 Req SA Req 5B Req SC Req 5D Req 6A Req 6B GL Req 7 Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses 0 $ Help 5a. Using adjusted account balances from Req 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 Req 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. Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Req 4 Req SA Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare the statement of owner's equity for the month of April 30. ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30 J. Nozomi, Capital, April 1 $ J. Nozomi, Capital, April 30 0 $ 0 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Assets Cash Office supplies Prepaid insurance Accounts receivable Computer equipment Accumulated depreciation Computer equipment Total assets + 0 $ Liabilities Salaries payable Equity Total liabilities and equity $ 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. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Post the journal entries to the ledger. Note: For April 30, choose the dropdown that most accurately describes the entry. General Ledger accounts 101: Cash Date Debit Credit Balance Date 106: Accounts Receivable Debit Credit Balance April 2 April 24 36,000 12,000 36,000 48,000 Date 124: Office Supplies Debit 128: Prepaid Insurance Credit Balance Date Debit Credit Balance