On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apri1 2. Nozoni invested $30,000 eash and conputer equipnent worth $20,000 in the conpany in exchange for its eonahon stock. Apri1 3 the corpany rented furnished affice space by paying $1,300 cash for the firat nonth's (Mpri1) rent. Apri1 4 The eorpany purchased $1,000 of oftlee eupplien for cash. Apri1 10 The company paid $2,400 cash for a 12 -nonth insurance policy. Covorage begina on april 11 . Apri1 14 The company paid $1,600 cash for two veeka nalaries earned by enployees. April. 24 The cerpany collected $8,000 cash for comnisstons revenue. April.28. The corpany paid $1,600 cash for two weeks salaries earned by enployeea. Apri1. 29 The company paid $350 cash for minor repairs. to coaputer equipment. Mprt1 30 The company paid $750 eanh for this month's telephone bill. Apri 30 The company paid $1,500 eash in dividenda. The company's chart of accounts follows. Use the following information to prepare odjusting entries: a. Prepaid insurance of $133 explred this month. b. At the end of the month, $600 of office supplies are still avallable. c. This month's depreciation on computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The compary earned $1.750 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 6BGGL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requitement 68GL 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 68GL tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Requirement 6BGL tab, prepare an adjusted trial balance as of April 30 . 5b. Prepare the income statement for the month of April 30 . Sc. Prepare the statement of retained earnings for the month of April 30. 5d. Prepare the balance sheet at April 30 . 5a. Prepare journal entries to close the temporary accounts and then post to Requirement 68GL tab, using April 30 Close os the date. 5b. Post the journal entries to the ledger. 7. Preparea post-closing trial balance. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions for April and post them to ledger accounts in Req 68GL tab. The company records prepaid and unearned items in balance sheet accounts. Using account balances from Requirement 6B GL tab, prepare an unadiusted trial balance as of April 30. Journal entry worksheet 5 Record the required adjusting entry, if any. Prepaid insurance of $133 expired this month. Note: Enter debits before credits. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ ADVENTURE TRAVEL } \\ \hline \multicolumn{1}{|c|}{ Adjusted Trial Balance } \\ \hline \multicolumn{1}{|c|}{ Account Title } & April 30 & \\ \hline 101: Cash & & \\ \hline 106: Accounts recelvable & & \\ \hline 124; Office supplies & & \\ \hline 128: Prepaid insurance & & \\ \hline 167: Computer equipment & & \\ \hline 168: Accumulated depreciation-Computer equipment & & \\ \hline 209: Salaries payable & & \\ \hline 307: Common stock & & \\ \hline 318: Retained earnings & & \\ \hline 319: Dividends & & \\ \hline 403: Commissions revenue & & \\ \hline 612: Depreciation expense- Computer equipment & \\ \hline 622: Salaries expense & & \\ \hline 637: Insurance expense & & \\ \hline 640: Rent expense & & \\ \hline 650: Office supplies expense & & \\ \hline 684: Repairs expense & & \\ \hline 688: Telephone expense & & \\ \hline \multicolumn{1}{|c|}{ Totals } & \\ \hline \end{tabular} Prepare the income statement for the month of April 30. Prepare the statement of retained earnings for the month of April 30. Prepare the balance sheet at April 30. Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits. 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.) i7in and
