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 $47,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,000 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $2,100 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 $14,500 cash for commissions earned. 28 The company paid $1,700 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the company's computer. 30 The company paid $1,200 cash for this month's telephone bill. 30 The company paid $2,100 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 1. Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 4 Depreciation Expense-Computer 012 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 $117 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 $600. d. Employees earned $450 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. 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 prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 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 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. No Date General Journal Credit 1 April 01 Cash Computer equipment Common stock Debit 47,000 30,000 77,000 2 April 02 2,000 Rent expense Cash 2,000 3 April 03 1,300 Office supplies Cash 1,300 April 10 2,100 Prepaid insurance Cash 2,100 5 April 14 1,700 Salaries expense Cash 1,700 April 24 14,500 Cash Commissions earned 14,500 7 April 28 1,700 Salaries expense Cash 1,700 8 April 29 500 Repairs expense Cash 500 April 30 1,200 Telephone expense Cash 200 10 April 30 Dividends 2,100 Cash 2,100 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 $47,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,000 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $2,100 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 $14,500 cash for commissions earned. 28 The company paid $1,700 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the company's computer. 30 The company paid $1,200 cash for this month's telephone bill. 30 The company paid $2,100 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 1. Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 4 Depreciation Expense-Computer 012 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 $117 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 $600. d. Employees earned $450 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. 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 prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of retained earnings for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 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 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. No Date General Journal Credit 1 April 01 Cash Computer equipment Common stock Debit 47,000 30,000 77,000 2 April 02 2,000 Rent expense Cash 2,000 3 April 03 1,300 Office supplies Cash 1,300 April 10 2,100 Prepaid insurance Cash 2,100 5 April 14 1,700 Salaries expense Cash 1,700 April 24 14,500 Cash Commissions earned 14,500 7 April 28 1,700 Salaries expense Cash 1,700 8 April 29 500 Repairs expense Cash 500 April 30 1,200 Telephone expense Cash 200 10 April 30 Dividends 2,100 Cash 2,100