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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 $49,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. April 2 The company rented furnished office space by paying $2,300 cash for the first month's (April) rent. April 3 The company purchased $1,600 of office supplies for cash. April 10 The company paid $2,500 cash for the premium on a 12 -month insurance policy. Coverage begins on April 11. April 14 The company paid $1,000 cash for two weeks' salaries earned by employees. April 24 The company collected $17,500 cash for commissions revenue. April 28 The company paid $1,000 cash for two weeks' salaries earned by enployees. April 29 The company paid $350 cash for minor repairs to the company's computer. April 30 The company paid $1,000 cash for this month's telephone bill. April 30. The company paid $2,200 cash in dividends. Use the following information: a. Prepaid insurance of $139 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 $300. d. Employees earned $340 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,200 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 . 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. Adjusted Trial Balance April 30 \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline 101: Cash & & \\ \hline 106: Accounts receivable & & \\ \hline 124: Office supplies & & \\ \hline 128: Prepaid insurance & & \\ \hline 167: Computer equipment & & \\ \hline 168: Accumulated depreciation-Computer equipment & & \\ \hline 209: Salaries payable & & \\ \hline 307: Common stock & & \\ \hline 318: Retained earnings & & \\ \hline 319: Dividends & & \\ \hline 405: Commissions revenue & & \\ \hline 612: Depreciation expense-Computer equipment & & \\ \hline 622: Salaries expense & & \\ \hline 637: Insurance expense & & \\ \hline 640: Rent expense & & \\ \hline 650: Office supplies expense & & \\ \hline 684: Repairs expense & & \\ \hline 688: Telephone expense & & \\ \hline Total & & \\ \hline \end{tabular} ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues: Expenses: Total expenses ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 ADVENTURE TRAVEL Balance Sheet April 30 Total assets $ 0 0 \begin{tabular}{|l|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total equity & & \\ \hline Total liabilities and equity & & $ \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline No & Date & General Journal & Debit & Credit \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Post the journal entries to the ledger. ADVENTURE TRAVEL Post-Closing Trial Balance April 30
