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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 2 Nozoni invested $37, eee cash and computer equipnent worth $20, ee0 in the company. April 3 The company rented furnished office space by paying $2,000 cash for the first month's (Aprill) rent. April 4 The company purchased $1,700 of office supplies for cash. April 10 The company paid $2,800 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The conpany paid $1,800 cash for two weeks" salaries earned by enployees. April 24 The compony collected $8,500 cash for conmissions revenue. April 28 The conpany paid $1,100 cash for two weeks' salaries earned by employees. April 29 The company paid $300 cash for ninor repairs to conputer equipment. April 30 The conpany paid $1,250 cash for this eonth's telephone bill. April 30 Nozosi withdrew $1,900 cash fron the conpany for personal use. Required: 1. \& 2. Prepare journal entries to rocord the transactions for April and post them to ledger accounts in Req 68GL tab. The company records prepaid and uneamed 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 then post to the ledger on Req 68 tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 68GL tab, prepare an adjusted trial balance as of April 30 . 5b. Prepare the income statement for the 5c. Prepare the statement of owent for the month of April 30 . 5d. Prepare the balance street ofner's equity for the month of April 30 . 6a. Prepare joumal entres sheet at April 30. 6b. Post the journal entries to close the temporary accounts and then post to Req 68GL tab, using April 30 Close as the date. 7. Prepare a post-closing trial balance. Using account balances from Reouirement 6 h. nrenare an unadiuctad teial halnw - of April 30. Using adjusted account balances from Req 6B GL tab, prepare an adiusted trial balance as of April 30. Prepare the balance sheet at April 30 . Prepare journal entries to record the transactions for April and post them to ledger accounts in Req 68 GL tab. The compar records prepaid and unearned items in balance sheet accounts. Joumalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adjusted as the date. Note: Do not round intermediate calculations and round the final answers to nearest whole number. On April 1, Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. April 2 Nozomi invested $37,000 cash and computer equipment worth $20,000 in the company. April 3 The company rented furnished office space by paying $2,000 cash for the first month's (Aprit) rent. April 4 The company purchased $1,700 of office supplies for cash. April 10 The company paid $2,800 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,100 cash for two weeks' salaries earned by enployees. April 24 The company collected $8,500 cash for conmissions revenue. April 28 The company paid $1,100 cash for two veeks' salaries earned by employees. April 29 The company paid $300 cash for minor repairs to computer equipment. April 30 The company paid $1,250 cash for this month's telephone bill. April 30 Nozomi withdrew $1,900 cash from the company for personal use. Ine companys criart on accounts tonows: Use the following information to prepare adjusting entries: a. Prepaid insurance of $156 expired this month. b. At the end of the month, $400 of office supplies are still available. c. This month's depreciation on computer equipment is $400. d. Employees earned $410 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,100 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, prepare an unadjusted trial balance as of April 30 . 4. Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adjusted as the date. 5a. Using adjusted account balances from Req 6B GL 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 Req 6BGL tab, using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance. Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adjusted as the date. Note: Do not round intermediate calculations and round the final answers to nearest whole number. Using account bsflances from Requirement 6b, prepare an unadjusted trial balance as of April 30 . Isinn adiusted account balances from Req 6B GL tab, prepare an adjusted trial balance as of April 30 . Prepare the balance sheet at April 30 . Prepare journal entries to close the temporary accounts and then post to Req 6BGL tab, using April 30 Close as the date
