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please help On April 1, Edward Lee created a new travel agency, Lee Travel. The following transactions occurred during the company's first month. Apri1 2
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On April 1, Edward Lee created a new travel agency, Lee Travel. The following transactions occurred during the company's first month. Apri1 2 Lee invested $32,000 canh and eomputer equipment worth $7,800 in the company. April 3 The company rented furnished office space by paying $2,000 canh for the first month's (April) rent. April 4 The company purchased $1,400 of office supplien for cash. April 10 The corpany paid $1,300 cash for a 12-inonth insurance policy. Coverage begins on April 11 . Apri1 14 The company paid $1,540 cash for two weeks salaries earned by enployees. Apri1. 24 The company collected $12,000 cash for conminsions revense. Apri1 28 The conpany paid $1,540 cash for two weeks Balaries earned by employees. April 29 The company paid $650 cash for minor repairs to computer equipment. Apri1 30 The company paid $450cash for this nonth's telephone bill. April 30 tee withdrew $1,700 canh from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $100 expired this month. b. At the end of the month. $700 of office supplies are still available. c. This month's depreciation on computer equipment is $130. d. Employees earned $616 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,770 of commissions revenue that is not yet recorded at month-end. Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. You may view either the unadjusted, adjusted, or post-closing trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs. Post-closing The unadjusted or adjusted balances will appear for each account, based on your will only display ending capital.) Post-closing Step by Step Solution
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