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please help im stuck on these Check my work Problem 3-5A Applying the accounting cycle LO P1, P2, P3, P4, P5, Pb, PI, P8 On
please help im stuck on these
Check my work Problem 3-5A Applying the accounting cycle LO P1, P2, P3, P4, P5, Pb, PI, P8 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's 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 $1,900 cash for the first sonth's (April) rent. 3 The company purchased $1,200 of office supplies for cash. 10 The company paid $2,300 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 $17,500 cash for commissions earned. 28 The company paid $1,500 cash for two weeks salaries earned by employees. 29 The company paid $450 cash for minor repairs to the company's computer. 30 The company paid $1,550 cash for this month's telephone bill. 30 The company paid $2,000 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipnent 168 Accumulated Depreciation-Computer Equip. 209 Solaries Payable 307 Common 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 638 Telephone Expense 901 Incone Sunnary Use the following information: a. Prepaid insurance of $128 has expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500, d. Employees earned $490 of unpaid and unrecorded salarles as of month-end e. The company earned $2,050 of commissions that are not yet billed at month-end. 8 Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the lediger accounts in Requirement 6b. The company records prepaid and uneared items in balance sheet accounts 3. Using account balances from Requirements, prepare an unadjusted trial balance as of Apr 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 50. Prepare the statement of retained earnings for the month of April 30 5c. Prepare the balance sheet at April 30. 60. Prepare journal entries to close the temporary accounts and then post to Requirement 66 66. Post the journal entries to the ledger. z Prepare a post-closing trial balance. Dance Complete this question by entering your answers in the tabs below. Reg1 and 2 Reg Rey Reddy Entries Thalal Rega Reg 58 RSC Heg 6 Reo 68 GL Reg7 Prepare the income statement for the month of April 30 7 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Adj Entries RE Req 4 Adj Trial Bal Reg SA Req 5B Reg 5C Req 6A 8 points Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 eBook Revenues: Print Expenses: References + Total expenses 0 0 Step by Step Solution
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