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 $43,000 cash and computer equipment worth $30,000 in the company. April 3 The company rented furnished office space by paying $1,700 cash for the first month's (April) rent. April 4 The company purchased $1,300 of office supplies for cash. April 10 The company paid $2,200 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,400 cash for two weeks' salaries earned by employees. April 24 The company collected $11,500 cash for commissions revenue. April 28 The company paid $1,400 cash for two weeks' salaries earned by employees. April 29 The company paid $300 cash for minor repairs to computer equipment. April 30 The company paid $1,450 cash for this month's telephone bill. April 30 Nozomi withdrew $2,400 cash from the company for personal use. 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 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals Use the following information to prepare adjusting entries: a. Prepaid insurance of $122 expired this month. 403 Commissions Revenue Depreciation Expense-Computer Equipment Salaries Expense 612 622 637 640 Rent Expense Insurance Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary b. At the end of the month, $500 of office supplies are still available. c. This month's depreciation on computer equipment is $400. Use the following information to prepare adjusting entries: a. Prepaid insurance of $122 expired this month. b. At the end of the month, $500 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $320 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,950 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 Req 6B GL tab. 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 then post to the ledger on Req 68 tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 6B 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 owner's equity 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 Req 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 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 101: Cash ADVENTURE TRAVEL Unadjusted Trial Balance Account Title 106: Accounts receivable 124: Office supplies April 30 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 301: J. Nozomi, Capital 302: J. Nozomi, Withdrawals 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 Total Debit Credit $ 30,000 0 1,300 122 $ 31,422 $ 101: Cash ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 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 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 Total Debit Credit $ 0 $ 0 Revenues: ADVENTURE TRAVEL Income Statement For Month Ended April 30 Expenses: Total expenses < Req 5A 0 $ 0 Req 5C > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6- Prepare the statement of owner's equity for the month of April 30. ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30 J. Nozomi, Capital, April 1 EA $ 0 Add: Investments by owner Add: Net income Less: Withdrawals by owner J. Nozomi, Capital, April 30 0 $ 0 < Req 5B Req 5D > Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets Total liabilities and equity < Reg 5C $ EA 0 0 $ EA 0 Reg 6A Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Prepare journal entries to close the temporary accounts and then post to Req 6B GL tab, using April 30 Close as the date. No Date General Journal Debit < Req 5D Req 6B GL > Credit Post the journal entries to the ledger. Note: For April 30, choose the dropdown that most accurately describes the entry. General Ledger accounts 101: Cash Date Debit Credit Balance Date 124: Office Supplies Debit 106: Accounts Receivable Date Debit Credit Balance 128: Prepaid Insurance Credit Balance Date Debit Credit Balance Date Date Date 124: Office Supplies Debit 128: Prepaid Insurance Credit Balance Date Debit Credit Balance 167: Computer Equipment Debit Credit Balance Date 209: Salaries Payable Debit 168: Accumulated Depreciation-Computer equipment Debit Credit Balance 301: J. Nozomi, Capital Credit Balance Date Debit Credit Balance Date Date 209: Salaries Payable Debit Credit Balance Date 302: J. Nozomi, Withdrawals Debit Credit Balance Date 612: Depreciation Expense-Computer Equipment Date Debit Credit 301: J. Nozomi, Capital Debit Credit Balance 403: Commissions Revenue Debit Credit Balance 622: Salaries Expense Balance Date Debit Credit Balance Date Date Date 637: Insurance Expense Debit 640: Rent Expense Credit Balance Date Debit Credit Balance 650: Office Supplies Expense Debit Credit Balance Date 684: Repairs Expense Debit Credit Balance 688: Telephone Expense Debit 901: Income Summary Credit Balance Date Debit Credit Balance < Req 6A Req 7 > Sc So Sh Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Totals Account Title Debit Credit $ 0 $ 0 < Req 6B GL Req 7 >