On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. 1 Nozomi invested $47,000 cash and computer equipment worth $25,000 in the company. 2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent. 3 The company purchased $1,700 of office supplies for cash. 10 The company paid $2,700 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,500 cash for two weeks salaries earned by employees. 24 The company collected $11,500 cash for commissions earned. 28 The company paid $1,500 cash for two weeks' salaries earned by employees. 29 The company paid $480 cash for minor repairs to the company's computer. 30 The company paid $900 cash for this month's telephone bill. 30 Nozomi withdrew $1,see cash from the company for personal use. April The company's chart of accounts follows: 405 Commissions Earned 101 Cash 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 106 Accounts Receivable 124 office Supplies 128 Prepaid Insurance ces 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 . Nozomi, Capital 302 3. Nozomi, Withdravals 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 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 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 owner's equity 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. of April 30 look Print erences Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial Bal Req 6A Req 6 Req 5B Req 5A Req SC Req 3 Req 1 and 2 Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. ADVENTURE TRAVEL Book Adjusted Trial Balance April 30 Credit Account Title Debit Print 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168 Accumulated depreciation-Computer equipment 209 Salaries payable 301: J. Nozomi, Capital 302: J. Nozomi, Withdrawals 405 Commissions earned 612: Depreciation expense-Computer equipment 622 Salaries expense erences 637 Insurance expense 640 Rent expense 650 Office supplies expense 684 Repairs expense 688 Telephone expense Total S 0 Req 4 Adj Entries Req 5A Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial Ball Req 3 5A Req 5B Req 5C Req 1 and 2 Req 6A Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Expenses: ces Total expenses 0 0 Req 4 Adj Trial Bal Req 5B Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial Bal Req 1 and 2 Req 3 Req SA Req 5B Req 5C Req 6A Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets $ Total liabilities and equity 0 Req 5B Req 6A Complete this question by entering your answers in the tabs below. Req 4 Adj Trial Bal Req 4 Adj Entries Req Req 5C Re 6A Req 5B Req SA Req 3 Req 1 and 2 Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using A View transaction list Journal entry worksheet t 1 2 eces Record the entry to close revenue account(s). Note: Enter debits before credits. Date General Journal Debit Credit April 30 Record entry Clear entry View general journal Req 5C Req 6B GL>
