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 $47, 000 cash and computer equipment worth $25, 000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2, 500 cash for the first month's (April) rent. April 4 The company purchased $1, 400 of office supplies for cash . April 10 The company paid $2, 700 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1, 300 cash for two weeks' salaries earned by employees. April 24 The company collected $11, 500 cash for commissions revenue . April 28 The company paid $1, 300 cash for two weeks' salaries earned by employees. April 29 The company paid $250 cash for minor repairs to computer equipment. April 30 The company paid $800 cash for this month's telephone bill. April 30 The company paid $1, 600 cash in dividends. The company's chart of accounts follows: 101 Cash 403 Commissions Revenue 106 Accounts Receivable 612 Depreciation Expense- Computer Equipment 124 Office Supplies 622 Salaries Expense 128 Prepaid Insurance 637 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 $150 expired this month. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on computer equipment is $500.d. Employees earned $550 of unpaid and unrecorded salaries as of month end. e. The company earned $2,000 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 GB GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 68 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 68 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 BB 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 Nozorni invested $47,000 cash and computer equipment worth 525.000 in the company in exchange for its common stock. Note: Erter debits before credits. View transaction list Journal entry worksheet 4. 1 2 3 4 5 s T a 9 1o ) The company rented furnished ofce space by paying $2,500 cash for the rst month's {April} rent. Note: Enter debits before credits. Clear entry View general journal 106: Accounts receivable 12-4: Ofce supplies 123: Prepaid insurance 15?: Computer equipment 153: Accumulated depreciationComputer equipment 209: Salaries payabie 30?: Common stock 3-13: Retained earnings 319: Dividends : Commissions revenue : Depreciation expenseComputer equipment : Salaries expense 63?: Insurance expense 641]: Rent expense 651]: Ofce supplies expense : Repairs expense 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 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. (Do not round intermediate calculations and round the final answers to nearest whole number.) View transaction list Journal entry worksheet 1 2 3 5 Prepaid insurance of $150 expired this month. Record the required adjusting entry, if any. Note: Enter debits before credits. Transaction General Journal Credit Record entry Clear entry View general journalReq 1 and 2 Req 3 Req 4 Req 5A Req 58 Req 5C Req 50 Req 6A Req 6B GL Req 7 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 Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 307: Common stoc 318: Retained earnings 319: Dividends 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 Totals Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Reg 5A Req 58 Rea 5C Req 50 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 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Req 5A Req 5B Req 50 Req 5D Req 6A Req 6B GL Req7 Prepare the statement of retained earnings for the month of April 30. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ Retained earnings, April 30 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Req 5A Req 5B Req 5C Req 50 Req 6A Req 6B GL Req 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total asset Total equity Total liabilities and equity Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Req 5A Req 5B Req 5C Reg 5D Req 6A Req 6B GL Reg 7 Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, using April 30 Close as the date. View transaction list al entry worksheet 1 2 3 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date General Journal Debit Credit April 30 Record entry Clear entry View general journal 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. (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 124: Office Supplies 128: Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance 167: Computer Equipment 168: Accumulated Depreciation-Computer Equipment Date Debit Credit Balance Date Debit Credit BalanceComplete 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 50 Req 6A Req 6B GL Req 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals