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please help On Aprill 1. Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apri1 2
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On Aprill 1. Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apri1 2 Nozomi invested $33,000 eash and computer equiprent worth $35,000 in the company. Apri1. 3 The eonpany rented furniahed office apace by paying $2,700 eash for the first moath's (April) rent. Apri1 4 The conpany purehased $1,500 of office eupplies for cash. April 10 The coepany paid \$2,300 eash for a 12 -month insurance policy. Coverage begina on April 21 . Apri1 14 the company paid $900 cash for two veeks " alaries earned by eaployeen. Apri1 24 The coapany collected $10,000 canh for cotalinsions revenue + April 28 The eonpany paid $900 cash for two veeka" salaries earned by esployeen. Aptil 29 The conpany paid \$300 cash for minor repaira to cotplater equipment. Apki1 30 The company paid $1,150 cath for this month' t telephone bill. April 30 Hozom1 Mithdres \$2,000 eash from the company for personal use. The company's chart of accounts follows: Use the following information to prepare adjusting entries: a. Prepaid insurance of $128 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 $600. d. Employees earned $370 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 of commissions revenue that is not yet recorded at month-end. Required: 1. \& 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Req 6BGL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepore an unadjusted trial bolance as of April 30 . 4. Journalize the adjusting entries for the month, and then post to the ledger on Req 68 tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 6BGL tab, prepare an adjusted trial balance as of April 30 . 5b. Prepare the income statement for the month of April 30 . 5c. Prepare the statement of owner's equity for the month of April 30 . 5d. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Reg 68GL tab, using April 30Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-ciosing trial balence. Using adjusted account balances from Req 6BGL tab, prepare an adjusted trial balance as of Apr Prepare the income statement for the month of April 30 Step by Step Solution
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