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 $30,000 cash and computer equipment worth $20,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. April 4 The company purchased $1,000 of office supplies for cash. April 10 The company paid $2,400 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,600 cash for two weeks' salaries earned by employees. April 24 The company collected $8,000 cash for commissions revenue. April 28 The company paid $1,600 cash for two weeks' salaries earned by employees. April 29 The company paid $350 cash for minor repairs to computer equipment. April 30 The company paid $750 cash for this month's telephone bill. April 30 The company paid $1,500 cash in dividends. The company's chart of accounts follows. 101 Cash 403 106 Accounts Receivable 612 124 Office Supplies 622 Salaries Expense 128 Prepaid Insurance 637 Commissions Revenue Depreciation Expense-Computer Equipment Insurance Expense 167 Computer Equipment 640 Rent Expense 168 Accumulated Depreciation-Computer Equipment 650 Office Supplies Expense 209 Salaries Payable 684 Repairs Expense 307 Common Stock 688 Telephone Expense 318 Retained Earnings 901 Income Summary 319 Dividends Use the following information to prepare adjusting entries: a. Prepaid insurance of $133 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 $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 of commissions revenue that is not yet recorded at month-end. Post the journal entries to the ledger. (Select April 30 Adjusted as date for all adjusting entries, and April 30 Close as date for all closing entries.) General Ledger accounts 101: Cash 106: Accounts receivable Date Debit Credit Balance Date Debit Credit Balance April 2 30,000 30,000 April 30 Adjusted 1,750 1,750 April 3 1,800 28,200 April 4 1,000 27,200 April 10 2,400 24,800 April 14 1,600 23,200 April 24 8,000 31,200 April 28 1,600 29,600 April 29 350 29,250 April 30 750 28,500 April 30 Adjusted 1,500 27,000 April 4 Date April 30 Adjusted Date Anril 2 124: Office supplies Debit 1,000 Credit Balance Date 1,000 April 10 400 600 April 30 Adjusted 167: Computer equipment Debit 20.000 128: Prepaid insurance Debit 2,400 Credit Balance 133 2,400 2,267 168: Accumulated depreciation-Computer equipment Credit Balance Date 20.000 April 30 Adiusted Debit Credit 500 Balance 500 Date April 4 April 30 Adjusted Date April 2 April 30 Date Date April 30 Adjusted 124: Office supplies Debit 1,000 Credit Balance Date 1,000 April 10 400 600 April 30 Adjusted 167: Computer equipment Debit 20,000 128: Prepaid insurance Debit 2,400 Credit Balance 2,400 133 2,267 168: Accumulated depreciation-Computer equipment Credit Balance Date 20,000 April 30 Adjusted 209: Salaries payable Debit Debit Credit 500 Balance 500 Credit Balance Date 307: Common stock Debit Credit 420 420 April 2 50,000 Balance 50,000 318: Retained earnings Debit 319: Dividends Credit Balance Date Debit Credit Balance April 30 1,500 1,500 April 30 Close 1,500 0 403: Commissions revenue 612: Depreciation expense-Computer equipment Date Debit Credit Balance April 24 8,000 8,000 Date April 30 April 30 1,750 9,750 April 30 Close April 30 Close 9,750 0 Debit 500 Credit 500 Balance 500 0 622: Salaries expense 637: Insurance expense Date Debit Credit Balance Date Debit Credit Balance April 14 1,600 1,600 April 30 133 April 28 1,600 3,200 April 30 Close 133 133 0 April 30 420 3,620 April 30 Close 3,620 0 640: Rent expense Date Debit Credit Balance Date April 3 1,800 1,800 April 30 Adjusted 1,800 0 April 30 April 30 Close Date April 29 AL 684: Repairs expense Debit 350 Credit En Balance 350 n April 30 Date 650: Office supplies expense Debit Credit Balance 400 400 400 0 688: Telephone expense Debit 750 Credit 757 Balance 750 n April 14 1,600 1,600 April 30 133 133 April 28 1,600 3,200 April 30 Close 133 0 April 30 420 3,620 April 30 Close 3,620 0 April 3 Date April 30 Adjusted Date April 29 April 30 Close Date 640: Rent expense Debit 1,800 Credit Balance Date 1,800 April 30 1,800 0 April 30 Close 684: Repairs expense Debit 350 Credit Balance Date 350 April 30 350 0 April 30 Close 901: Income summary Debit Credit Balance 650: Office supplies expense Debit Credit Balance 400 400 400 0 688: Telephone expense Debit 750 Credit Balance 750 750 0 Answer is not complete. 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 a post-closing trial balance. Cash Accounts receivable Office supplies Prepaid insurance Computer equipment ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Accumulated depreciation-Computer equipment Salaries payable Commissions revenue Totals < Req 6B GL Debit Credit $ 27,000 1,750 600 2,267 20,000 500 420 50,697 $ 51,617 $ 51,617 Req 7 Answer is not complete. 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 close the temporary accounts and then post to Requirement 6B GL tab, using April 30 Close as the date. No 1 Date April 30 Commissions revenue Income summary General Journal 2 April 30 Income summary Depreciation expense-Computer equipment 3 April 30 Salaries expense Insurance expense Rent expense Office supplies expense Income summary Dividends 4 April 30 Income summary Retained earnings BASED DAMER CL >> Debit 9,750 7,553 1,500 697 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 Accounts receivable Office supplies $ 27,000 1,750 600 Prepaid insurance 2,267 Computer equipment $ 20,000 Accumulated depreciation-Computer equipment 500 19,500 Total assets $ 51,117 Liabilities Salaries payable $ 420 Equity Commissions revenue $ 50,697 x Total equity Total liabilities and equity 50,697 $ 51,117 < Req 5C Req 6A > Using adjusted account balances from Requirement 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 Debit Credit 1,750 400 133 500 420 307: Common stock 318: Retained earnings 319: Dividends 403: Commissions revenue 1,750 612: Depreciation expense-Computer equipment 500 622: Salaries expense 420 637: Insurance expense 133 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Totals 400 3,203 $ 3,203