On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the companys first month.

April 2 Nozomi invested $41,000 cash and computer equipment worth $25,000 in the company in exchange for its common stock.

April 3 The company rented furnished office space by paying $1,600 cash for the first months (April) rent.

April 4 The company purchased $1,500 of office supplies for cash.

April 10 The company paid $1,980 cash for a 12-month insurance policy. Coverage begins on April 11.

April 14 The company paid $1,200 cash for two weeks' salaries earned by employees.

April 24 The company collected $13,500 cash for commissions revenue.

April 28 The company paid $1,200 cash for two weeks' salaries earned by employees.

April 29 The company paid $400 cash for minor repairs to computer equipment.

April 30 The company paid $1,400 cash for this month's telephone bill.

April 30 The company paid $1,560 cash in dividends.

Use the following information to prepare adjusting entries:

a) Prepaid insurance of $110 expired this month.

b) At the end of the month, $500 of office supplies are still available.

c) This months depreciation on computer equipment is $500.

d) Employees earned $320 of unpaid and unrecorded salaries as of month-end.

e) The company earned $1,800 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 6B GL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6B GL 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 6B GL tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Requirement 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 retained earnings 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 Requirement 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.

No	Date	General Journal	Debit	Credit
1	April 02
2	April 03
3	April 04
4	April 10
5	April 14
6	April 24
7	April 28
8	April 29
9	April 30
10	April 30

No	Transaction	General Journal	Debit	Credit
1	a.
2	b.
3	c.
4	d.
5	e.

No	Date	General Journal	Debit	Credit
1	April 30
2	April 30
3	April 30
4	April 30

ADVENTURE TRAVEL Income Statement For Month Ended April 30 \begin{tabular}{|l|r|r|} \hline Revenues: & & \\ \hline Commissions revenue & & $18,000 \\ \hline & & \\ \hline & & \\ \hline Expenses: & 2,720 & \\ \hline Salaries expense & 110 & \\ \hline Insurance expense & 1,600 & \\ \hline Rent expense & 1,500 & \\ \hline Office supplies expense & 1,400 & \\ \hline Telephone expense & 400 & \\ \hline Repairs expense & 500 & \\ \hline \begin{tabular}{c} Depreciation expense-Computer \\ \hline equipment \end{tabular} & & \\ \hline & & \\ \hline & & \\ \hline Total expenses & & $,230 \\ \hline Net income & 9,770 \\ \hline \end{tabular} ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 \begin{tabular}{l|r|} \hline Retained earnings, April 1 & $ \\ \hline Add: Net income & 1,560 \\ \hline & \\ \hline Less: Dividends & \\ \hline Retained earnings, April 30 & $1,560 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 684: Repairs Expense } \\ \hline Date & Debit & Credit & Balance \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 901: Income Summary } \\ \hline Date & Debit & Credit & Balance \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 688: Telephone Expense } \\ \hline Date & Debit & Credit & Balance \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} ADVENTURE TRAVEL Post-Closing Trial Balance April 30 \begin{tabular}{|l|l|l|} \hline Account Title & Debit & Credit \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Totals & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}