On April 1, Jiro Nozomi created a new travel agrncy, Adventure Travel. The followinf transaction occured during the company first month.

April 1 Nozomi invested $32,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,600 cash for the first month's (April) rent. The company purchased $1,600 of office supplies for cash 10 The company paid $2,200 cash for the presiun on a 12-month insurance policy. Coverage begins on April 11, 14 The company paid $1,300 cash for two weeks' salaries earned by employees. 24 The company collected $16,500 cash for comissions carned. 28 The company paid $1,300 cash for two weeks salaries earned by employees. 29 The company paid $450 cash for sine repairs to the company's computer. 30 The company paid $1,500 cash for this month's telephone bill. 30 The company pald $2,200 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 120 Prepaid Insurance 167 Computer Equipment 160 Accumulated Depreciation-Computer Equip 209 Salaries Payable 307 Contmon Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 608 Telephone Expense 1 Encone Sonary Use the following information o. Prepaid insurance of S122 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 $500. d. Employees earned $330 of unpaid and unrecorded salaries as of month-end e. The company earned $2.500 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 uneamed 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 50. 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 Prey 1 of 1 Next Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Ad) Entries Req 4 Adi Trial Bal Reg 5A Reg 58 Reg SC Req6A Reg 68 GL Reg 7 Journalize the adjusting entries for the month, and then post to the ledger on Req 68 tab, using April 30 Adj, as the date. (Do not round intermediate calculations and round the final answers to nearest whole number) No Transaction General Journal Debit 1 Credit 122 Prepaid insurance Insurance expense 122 2 b Office supplies expense Office supplies 900 >> 900 > 3 Depreciation expense--Computer equip 500 > 4 d Salades payable Salaries expense 330 330 5 2.500 > Accounts recevable Commissions earned 2.500 ( Req3 Req 4 Adj Trial Bal > Req 1 and 2 Reg 3 Req 4 Adj Entries Reg 4 Ad) Trial Bal Req SA Reg 5B Reg 5C Reg 6A Reg 6B GL Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. Debit Credit $ 3 35,250 2,500 1.000 2.078 35.000 $ 500 330 ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 101 Cash 106. Accounts receivable 124 Office supplies 128. Prepaid insurance 167 Computer equipment 168 Accumulated depreciation--Computer equipment 209 Salaries payable 307 Common stock 318 Retained earnings 319 Dividends 405 Commissions earned 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 67,000 2.200 19.000 500 2.930 122 2,600 600 450 000 1,500 86.730 S 86,830 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Adj Req 4 Adj Entries Trial Bal Req SA Reg 5B Reg 5C Req 6A Reg 6B GL Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Commissions earned $ 19,000 500 DI 2.930 122 Expenses Depreciation expense - Computer equip. Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense OOOOOOO 2.600 600 450 1,500 O Total expenses Net Income 8,702 10,298 $ Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Assets S Cash Accounts receivable Office supplies Prepaid insurance 35,350 1,000 2,078 2,500 Total assets $ 40,928 Liabilities Salaries payable > 35,000 (500) Equity Salaries payable Common stock Retained earnings Total equity Total liabilities and equity 330 67,000 8098 75.428 109.928 Prepare journal entries to close the temporary accounts and then post to Req 68 General Ledger, using April 30 Close as the date. No Date General Journal Debit Credit April 30 Commissions eamed Income summary 2 April 30 OOO Income summary Depreciation expense-Computer equip Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense 3 April 30 Income summary Retained earnings April 30 Retained earnings Dividends Reg 1 and 2 Reg 3 Req 4 Ad) Entries Reg 4 Ad) Trial Bal Reg SA Roq 5B Reg SC Reg 6A Reg 68 GL Reg 7 Post the journal entries to the ledger General Ledger accounts 101: Cash Debit Credit Balance 106. Accounts Receivable Debit Credit Balance Date Apol 30 Date April 1 April 2 April 3 Apell 10 April 14 April 24 Aprill 28 April 29 April 30 oo 124: Office Supplies Debit Credit Date 128. Prepaid Insurance Debit Credit Balance Balance April 10 April 30 8 Date April 10 April 30 167: Computer Equipment Debit Credit Date Balance 163. Acumulated Depreciation-Computer equipment Dato Debit Credit Balance Apr 30 April 1 Piev 1 1 11 209: Salaries Payable Debit Credit Date April 30 Balance 307: Common Stock Debit Credit Balance Date April 1 318: Retained Earnings Dobit Credit Balance 319: Dividends Debit Credit Balance Date April 30 April 30 Date April 30 April 30 405: Commissions Earned Debit Credit Balance Date April 24 April 30 April 30 612: Depreciation Expense--Computer Equipment Dato Debit Credit Balance April 30 April 30 622: Solarles Expense Debit Credit 637: Insurance Expense Debit Credit Balance Balance Date April 14 April 28 April 30 April 30 Dato Apud 30 April 30 OOOO 640: Rent Expense Debit Credit 650 Orice Supplies Expense Debit Credit Balance Balance Dato April 2 April 30 Date April 30 April 30 Proy 1 of 1 !!! Next 640: Rent Expense Debit Credit 650: Office Supplies Expense Debit Credit Balance Balance Date April 2 April 30 Dato April 30 April 30 684: Repairs Exponse Debit Credit 688: Telephone Expense Debit Credit Balance Balance > Date April 29 April 30 O Date April 30 April 30 3 901. Income Summary Debit Credit Balance Date April 30 April 30 April 30 April 30 Credit ADVENTURE TRAVEL Post Closing Irial Balance April 30 Account Title Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation --- Computer equip Salaries payable Common stock Retained earnings Debit 35,250 $ 2.500 1,000 2.078 35,000 500 330 67.000 8,098 OOO Totals 75,828 75,928 Req GB GL