On April 1,2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $39,ee0 cash and computer equipment worth 25,ee0 in the company. 2 The company rented furnished office space by paying $1,8ee cash for the first month's (April) rent. 3 The company purchased $1,1e0 of office supplies for cash. 10 The company paid $2,3e0 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 $20,500 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,580 cash for two weeks salaries earned by employees. 29 The company paid $5e0 cash for minor repairs to the company's computer. 30 The company paid $1,ese cash for this month's telephone bill. 3e Nozomi withdrew $2,500 cash from the company for personal use. The company's chart of accounts follows 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepald Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 01 3. Nozomi, Capital 382 3. Nozomi, withdravals 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 981 Incone Sumnary Use the following information a. Two-thirds (or $128) of one month's insurance coverage has expired b. At the end of the month, $400 of office supplies are still available c. This month's depreciation on the computer equipment is $400 d. Employees earned $520 of unpaid and unrecorded salaries as of month-end e. The company earned $1,550 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 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 prepare the adjusted trial balance 5a. Prepare the income statement for the month of April 30, 2017 5b. Prepare the statement of owner's equity for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 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. Account Title Debit Credit 47.250 101: 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 637: Insurance expense 640: Rent expense 650 Office supplies expense 684: Repairs expense 688 Telephone expense 1.100 ints 25,000 eBook Ask Print References 64,000 2,500 20,500 3,000 1.800 500 1,050 Total 84,500 $ 84,500 with a minus sign.) ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30, 2017 J. Nozomi, Capital, April 1, 2017 Add: Net income Add: Owner investments Less: Withdrawals J.Nozomi, Capital, April 30, 2017 Prepare the balance sheet at April 30, 2017. ADVENTURE TRAVEL Balance Sheet April 30, 2017 Assets Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation-Computer equip Total assets $47.250 1,550 400 2,172 25,000 (400) 24,600 $ 75,972 Liabilities Salaries payable 520 Equity J. Nozomi, Capital 520 Total liabilities and equity Post the journal entries to the ledger. If there is more than one transaction on a specific date, make sure to select the specific (abbreviate transaction in the date field. General Ledger accounts cash Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance Apri 1 April 2 April 3 Apni 10 Apni 14 Aprii 24 Apri 28 Aprl 29 Office Supplies Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance Apni 3 April 30 April 10 April 30 Computer Equipment Accumulated Depreciation-Computer equipment Date Debit Credit Balance Date Debit Credit Balance April 1 April 30 Salaries Payable Debit J. Nozomi, Capital Date Credit Balance Date Debit Credit Balance April 30 April 1 April 1 J. Nozomi, Withdrawals Commissions earned Date Debit Credit Balance Date Debit Credit Balance April 30 Apnii 24 April 30 April 30 Depreciation Expense-Computer Equipment Salaries Expense Date Debit Credit Balance Date Debit Credit Balance April 30 April 30 Apri 14 Apni 28 Insurance Expense Rent Expense Debit Date Debit Credit Balance Date Credit Balance pnii 30 pril 30 April 1 April 30 office Supplies Expense Repairs Expense Date Debit Credit Balance Date Debit Credit Balance April 29 April 30 April 30 April 30 Telephone Expense Income Summary Debit Date Debit Credit Balance Date Credit Balance Telephone Expense Income Summary Date Debit Credit Balance Date Debit Credit Balance ori 30 April 30 April 30 April 30 April 30 oni 30 ADVENTURE TRAVEL Post-Closing Trial Balance April 30, 2017 Account Title Debit Credit Totals 0