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 $31,000 cash and computer equipment worth $40,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,900 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 $2,520 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,000 cash for two weeks' salaries earned by employees. April 24 The company collected $14,000 cash for commissions revenue. April 28 The company paid $1,000 cash for two weeks' salaries earned by employees. April 29 The company paid $450 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 $1,570 cash in dividends. 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 307 Common Stock 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 901 Income Summary 318 Retained Earnings 319 Dividends Use the following information to prepare adjusting entries: a. Prepaid insurance of $140 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 $400. d. Employees earned $370 of unpaid and unrecorded salaries as of month-end, e. The company earned $1,850 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 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6B 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 6B 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 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 Reg 3 Reg SC Req6A Req 68 GL Req 7 Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 68 GL. tab. The company records prepaid and unearned items in balance sheet accounts. View transaction list 1 Req 4 Journal entry worksheet 2 N Req SA 3 4 5 6 Req 58 8 Req SD 9 Prev Nozomi invested $31,000 cash and computer equipment worth $40,000 in the 10 1 of 1 Next records prepaid and unearned items in balance sheet accounts. View transaction list Journal entry worksheet < 1 2 3 Note: Enter debits before credits. Date April 03 Record entry 4 5 6 7 The company rented furnished office space by paying $2,900 cash for the first month's (April) rent. General Journal 8 Clear entry 9 Debit 10 Credit View general Journal k ces Req 1 and 2 Req 3 View transaction list 1 Req 5D Req 6A Req 6B GL Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B G records prepaid and unearned items in balance sheet accounts. Journal entry worksheet Req 4 2 Date April 04 3 Note: Enter debits before credits. Record entry Req 5A 4 5 The company purchased $1,400 of office supplies for cash. General Journal Req 5B 6 Clear entry 7 Req 5C 8 Debit 9 10 Credit View general Journal ces Req 1 and 2 Req 5B Req 5C Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B GL records prepaid and unearned items in balance sheet accounts. View transaction list Req 3 < 1 Journal entry worksheet Req 4 2 Date April 10 3 Note: Enter debits before credits. Record entry Req 5A 4 5 General Journal 6 The company paid $2,520 cash for a 12-month insurance policy. Coverage begins on April 11. Clear entry 7 8 Debit 9 Prev Req SD 10 Credit 1 of 1 Req 6A View general Journal Next > Req 6B GL Req 1 and 2 View transaction list Req 3 < 1 Journal entry worksheet Req 4 Req 5C Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B GL records prepaid and unearned items in balance sheet accounts. Date April 14 2 Reserd onto 3 Note: Enter debits before credits. Req 5A 4 5 General Journal Req 5B 6 Clear entry The company paid $1,000 cash for two weeks' salaries earned by employees. 7 8 Req 5D 9 Debit 10 Req 6A Credit Req 6B GL View general Journal Req 1 and 2 Req 3 Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement records prepaid and unearned items in balance sheet accounts. View transaction list < Journal entry worksheet 1 2 Req 4 Date April 24 3 4 Note: Enter debits before credits. Record entry Req 5A 5 General Journal B The company collected $14,000 cash for commissions revenue. Clear entry Req 5B 7 Req 5C 8 Debit Prev 9 Req 5D 10 Credit 1 of 1 Req 6A View general Journal Req 6B Next Req 1 and 2 View transaction list Req 3 < 1 Journal entry worksheet Req 5D Req 6A Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6E records prepaid and unearned items in balance sheet accounts. Req 4 Date April 28 2 Record entry 3 Note: Enter debits before credits. Req 5A 4 5 General Journal Req 5B 6 Clear entry Req 5C 7 The company paid $1,000 cash for two weeks' salaries earned by employees. 8 9 Debit 10 Credit View general Journal www > Req 6B GL Next Req 1 and 2 Req 3 View transaction list < Journal entry worksheet 1 Req 4 Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement records prepaid and unearned items in balance sheet accounts. 2 Date April 29 Record entry 3 Note: Enter debits before credits. Req SA 4 5 General Journal Req 5B 6 The company paid $450 cash for minor repairs to computer equipment. Clear entry Req 5C 7 Debit 9 Drow Req 5D 10 Credit Req 6A 1 of View general Journal Req 6B Next Req 1 and 2 Req 3 Req 5D Req 6A Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B GL records prepaid and unearned items in balance sheet accounts. View transaction list < Journal entry worksheet 1 Req 4 2 Date April 30 Record entry 3 Note: Enter debits before credits. Req 5A The company paid $800 cash for this month's telephone bill. 4 5 6 7 Req 5B General Journal Clear entry Req 5C 8 Debit Prey 10 Credit View general Journal 1 of 1 > Next Req 68 GL es Req 1 and 2 Req 3 View transaction list 1 Journal entry worksheet Req 4 Date April 30 2 Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B C records prepaid and unearned items in balance sheet accounts. Record entry 3 Note: Enter debits before credits. Req 5A 4 The company paid $1,570 cash in dividends. 5 General Journal Req 5B Clear entry Req SC 6 7 8 Debit Prey Req 5D 9 10 Credit Req 6A 1 of 1 View general Journal Req 68 GL Next 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 307: Common stock 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 Reg 1 and 2 Debit Prev Credit Reg 4 > 1 of 1 Next Req 1 and 2 Req 3 View transaction list 1 Journal entry worksheet a. xxxxxx Transaction Req 4 2 Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, using date. (Do not round intermediate calculations and round the final answers to nearest whole number.) Record entry Note: Enter debits before credits. 3 Req SA 4 5 Prepaid insurance of $140 expired this month. Record the required adjusting entry, if any. Req 5B General Journal Req SC Clear entry Req SD Req 6A Debit Credit Req 6B View general Journal Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, usi date. (Do not round intermediate calculations and round the final answers to nearest whole number.) View transaction list Journal entry worksheet < 1 3 Note: Enter debits before credits. Transaction b. At the end of the month, $600 of office supplies are still available. Record the required adjusting entry, if any. Record entry 4 5 General Journal Clear entry Prev Debit Credit View general Journal 1 of 1 Next Req 1 and 2 Req 3 View transaction list < Journal entry worksheet Req 4 2 Transaction C. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, date. (Do not round intermediate calculations and round the final answers to nearest whole number.) Record entry 12 Note: Enter debits before credits. Req 5A 4 This month's depreciation on computer equipment is $400. Record the required adjusting entry, if any. Req 5B General Journal Req 5C Clear entry Req 5D Req 6A Debit Credit View general Journal R > Req 1 and 2 Req 3 View transaction list < Journal entry worksheet 1 Req 4 Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, using date. (Do not round Intermediate calculations and round the final answers to nearest whole number.) 2 Transaction. d. Record entry Req SA 32 Note: Enter debits before credits. 5 Req 5B Employees earned $370 of unpaid and unrecorded salaries as of month-end. Record the required adjusting entry, if any. Req SC General Journal Clear entry Req SD Debit Req 6A Req 68 C www Credit View general Journal klaut Req 1 and 2 View transaction list Req 3 < 1 Journal entry worksheet Req 4 Transaction e. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6B GL tab, u date. (Do not round intermediate calculations and round the final answers to nearest whole number.) 2 Record entry 3 Note: Enter debits before credits. Req SA 4 The company earned $1,850 of commissions revenue that is not yet recorded at month-end. Record the required adjusting entry, if any. Req SB General Journal Req SC Clear entry Req 5D Req 6A Debit Credit Rec View general Journal S Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance ADVENTURE TRAVEL Adjusted+ial Balance April 30 Account Title 209: Salaries payable 307: Common stock. 167: Computer equipment 168: Accumulated depreciation-Computer equipment 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 Reg 4 Debit Credit Reg 5B > pyy mmg you Req 1 and 2 Revenues: Expenses: Req 3 Total expenses Req 4 Prepare the income statement for the month of April 30. Req 5A Req 5B ADVENTURE TRAVEL Income Statement For Month Ended April 30 < Req 5A Req 5C Req 5D Req 5C > Req 6 . uit waiaiius alitei , 6a. Prepare journal entries to close the temporary accounts and then post to Require 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 Retained earnings, April 1 Req 5A ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 30 Prepare the statement of retained earnings for the month of April 30. Req 5B $ Req 5C < Req 5B Req 5D Req 5D > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Total assets Prepare the balance sheet at April 30. Req 4 Total equity Total liabilities and equity Req 5A ADVENTURE TRAVEL Balance Sheet April 30 < Req 5C Req 5B Req 5C Req 6A Req 5D + epare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, us View transaction list Journal entry worksheet < 1 2 Date April 30 3 Record the entry to close the revenue account(s). Note: Enter debits before credits. Record entry 4 General Journal Clear entry Prev Debit View general Journal 1 of 1 > Credit Next Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab View transaction list Journal entry worksheet < 1 2 Date April 30 3 Record the entry to close the expense account(s). Note: Enter debits before credits. Record entry 4 General Journal Clear entry Prev Debit View general Journal 1 of 1 Credit *** Next Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, usi View transaction list Journal entry worksheet 1 2 Record the entry to close the income summary. Note: Enter debits before credits. Date April 30 4 Record entry General Journal Clear entry < Req 5D Debit Credit View general Journal Req 6B GL > View transaction list Journal entry worksheet < 1 2 Record the entry to close the dividends account. Date April 30 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general Journal Post the journar enthes to the reager. (select Apr 30 Mujusted as ace for all aujusung entnes, and Apr 30 Close as date for all closing entr General Ledger accounts Date Date Date 101: Cash Debit Credit 124: Office Supplies Debit Credit 167: Computer Equipment Debit Credit Balance Balance Balance Date Date 14 106: Accounts Receivable Debit Credit 128: Prepaid Insurance Debit Debit Credit Balance 168: Accumulated Depreciation-Computer Equipment Date Credit Balance Balance Date Date Date Date 124: Office Supplies Debit Credit 167: Computer Equipment Debit Credit 209: Salaries Payable. Debit Credit 318: Retained Earnings Debit Credit Balance Balance Balance Balance Prev 1 of 1 Date Date 126: Prepaid Insurance Debit Date 168: Accumulated Depreciation-Computer Equipment Date Debit Next Credit 307: Common Stock Debit 319: Dividends Debit Credit Credit Balance Credit Balance Balance Balance Chapter 3 (Accounting Cycle) i Date Date: Date Date 403: Commissions Revenue Debit Credit 622: Salaries Expense Debit Credit 640: Rent Expense Debit Credit 684: Repairs Expense Debit Credit Balance Balance Balance Balance Prev Saved 612: Depreciation Expense-Computer Equipment Date Date Date Date 1 of 1, Debit Credit 637: Insurance Expense Debit Next Credit 650: Office Supplies Expense Debit Credit 688: Telephone Expense Debit Credit Balance Balance Balance Balance Date Date Date 640: Rent Expense Debit Credit 684: Repairs Expense Debit Credit 901: Income Summary Debit Credit Balance Balance Balance < Req 6A Dato Date 650: Office Supplies Expense Debit Credit 688: Telephone Expense Debit Credit Req 7 > Balance Balance Prepare a post-closing trial balance. Totals ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit < Req 6B GL Credit Req 7