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 $40,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,600 cash for the first month's (April) rent. 3. The company purchased $1,400 of office supplies for cash. 10 The company paid $2,300 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for two weeks' salaries earned by employees. 24 The company collected $13,000 cash for commissions earned. 28 The company paid $1,700 cash for two weeks' salaries earned by employees. 29 The company paid $300 cash for minor repairs to the company's computer. 30 The company paid $1,100 cash for this month's telephone bill. 30 The company paid $2,000 cash in dividends. es 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 Equip. 209_Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 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: a. Prepaid insurance of $128 has expired this month. b. At the end of the month, $700 of office supplies are still available. c. This month's depreciation on the computer equipment is $400. d. Employees earned $570 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,450 of commissions that are not yet billed at month-end. 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 depreciationComputer equipment 209: Salaries payable 307: Common stock 318: Retained earings 319: Dividends 405: Commissions eamed 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense Using adjusted account balances from Requirement 6b, 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 stock 318: Retained earnings 319: Dividends 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 $ $ Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Reg 5A Reg 5B Req 50 Req 6A Req 6B GL Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses 0 $ Req 1 and 2 Reg 3 Reg 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 0 0 Retained earnings, April 30 $ 0 riepare une valant SEL OL MPI JU. ADVENTURE TRAVEL Balance Sheet April 30 k nces 0 Total assets $ 0 Total equity Total liabilities and equity 0 $ 0 eq 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 50 Reg 6A Req 6B GL Req 7 Post the journal entries to the ledger. General Ledger accounts 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance 124: Office Supplies Debit Credit Date 128. Prepaid Insurance Debit Credit Balance Date Balance 167: Computer Equipment 168: Accumulated Depreciation--Computer equipment Debit Credit Balance Date Debit Credit Balance Date 209: Salaries Payable Debit Credit 307: Common Stock Date Balance Date Debit Credit Balance 318: Retained Earnings Debit Credit Date Balance 319: Dividends Debit Credit Date Balance 405: Commissions Earned Date Debit Credit Balance 612: Depreciation Expense-Computer Equipment Date Debit Credit Balance 622: Salaries Expense Debit Credit 637: Insurance Expense Debit Credit Date Balance Date Balance 640: Rent Expense Debit Credit Date 650: Office Supplies Expense Debit Credit Balance Date Balance 684: Repairs Expense Debit Credit Date 688: Telephone Expense Debit Credit Balance Date Balance 901: Income Summary Debit Credit Date Balance Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals $ eq 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 50 Reg 6A Req 6B GL Req 7 Post the journal entries to the ledger. General Ledger accounts 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance 124: Office Supplies Debit Credit Date 128. Prepaid Insurance Debit Credit Balance Date Balance 167: Computer Equipment 168: Accumulated Depreciation--Computer equipment Debit Credit Balance Date Debit Credit Balance Date 209: Salaries Payable Debit Credit 307: Common Stock Date Balance Date Debit Credit Balance 318: Retained Earnings Debit Credit Date Balance 319: Dividends Debit Credit Date Balance 405: Commissions Earned Date Debit Credit Balance 612: Depreciation Expense-Computer Equipment Date Debit Credit Balance 622: Salaries Expense Debit Credit 637: Insurance Expense Debit Credit Date Balance Date Balance 640: Rent Expense Debit Credit Date 650: Office Supplies Expense Debit Credit Balance Date Balance 684: Repairs Expense Debit Credit Date 688: Telephone Expense Debit Credit Balance Date Balance 901: Income Summary Debit Credit Date Balance Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals $