Please only Atempt Question 5B which is the Income Statement
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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 Apri1 2 hozoel invested $33,600 cash and conputer equipeent worth. 530,000 in the company in exchange for Its coemon stock. April 3 the company rented fumithed office space by paying 52,460 cash for the first month's (Agri1) rent. Agri1 4 the company purchased 51,9 of office supplies for cash. Apri1 to The company pald $2,700 cash for a 12 -eonth insurance poHcy. Coverage begins in April 11 . Apri1 14 the conpany poid $1, Te0 cash for tim weeks' salariles earned by enployees. Apri1 24 the conpany collected $14,000 cash for comalislons revenue. April 2. The comany paid 51,700 cash for two mekts' salaries earned by eoployees. Apri1 29 The coopany pald 5400 cash for minor repairs to conputer equipment. Ape 11 30 The compony poid 51,590 cash for this wonth's telephone bi11. April 30 the company po1d $1,560 cash in atvidends. The company's chart of accounts followi. Use the following information to prepare adjusting entries Q. Prepoid insurance of 5150 expired this month b. At the end of the month, $400 of office suppies are stid avaiuble c. This month's depreciation on computer equipment is 5600 d. Empioyees earmed 5360 of unpaid and untecorded sadaries ab of month-end e. The company eaened $1.600 of commissions revenue that is not yet recorded at month-ent Required: 1. 2 2. Pisoure oumat enties to record the tiansactions for. Aphl and post then to ledger account the date 5b. Pchpare :fe income starement ficr the month ot Apuil 30. c. This month's depreciation on computer equipment is $600. d. Employees earned $360 of unpaid and unrecorded salaries as of month-end. e. The company earned $1.600 of commissions revenue that is not yet recorded at monthend: Required: 1. \& 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 68GL tab. The company records prepaid and uneamed items in balance sheet accounts. 3. Using account balances from Requirement 6BGL tab, prepare an unadjusted trial balance as of April 30. 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6BGL tab, using April 30 . Adjusted as the date 5a. Using acjusted account balances from Requirement 6B6L tab. prepare an adjusted trial balance as of April 5b. Prepare the income statement for the month of April 30 5c. Prepare the statement of retained eatnings for the month of April 30 Sd. Prepare the balance sheet at April 30 . 60. Prepare journal entries to close the temporary accounts and then post to Requirement 6BL. tab. using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balarice. Complete this question by entering your answers in the tabs below. Prepare the income statiment for the month of April 30. 5c. Prepare the statement of retained eamings for the month of April 30 5d. Prepare the balance sheet at April 30 . 6o. Prepare journal entries to close the temporaty accounts and then post to Requirement 6B. GL tab, using April 30 Close as the date: 6b. Post the journal entries to the ledger. 7. Prepare a post-ciosing tral balance. Complete this question by entering your answers in the tabs below. Prepare the income statement for the month of April 30. On Apri 1, Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. Apri1 2 Wozoni invested 533,000 cash and computer equipent worth $39,009 in the company in exchange for its comson stock. April 3 The compony rented furnished office spoce by paying $2,460 cash for the first nonth's (April) rent. April 4 the company purchased $1,900 of office supplies for cash. April 10 The company pald $2,700 cash for a 12 -oonth insurance policy. Coverage begins an April 11. Apri1 14 the company paid $1,760 cash for two weeks" salaries earned by eaployees. April 24 the company collected $14,000 cash for comissions revenue. Apir1 28 The coopany paid $1, 200 cash for tio weeks" salarles earned by employees. Apri1 29 the compeny paid s4eo cash for minor repairs to conputer equipent. April 30 the company paid $1, seo cash for this month's telephone bill. April se the company paid 51,560 eash in dividends. The company's chart of accounts follows Use the following information to prepare adjusting entries a. Prepaid insurance of $150 expired this month. b. At the end of the month. $400 of ofice supplies are stili available. c. This month's depreciation on computer equipment is $600 d. Employees earned $360 of unpald and unrecorded salaries as of month-end e. The company earied $1600 of commissions revenue that is not yet recorded at month.end Required: 1. \& 2. Prepare joumalientries to resord the transactions for April and post them to lecgel accounts in Requirement 6BGL tab. The company cesoros prepoid ahd uneamed itents in bolance sheet accounts 3. Using account balances from Requifement 68GL tab , prepare an unedjusted trial balance as of April 30 4. Joumblize the adjusting entries for the month, and then post to the letget on Requiremem 68 Gliab, using Apoi 30 Acjuhted as the date 56. Using odjusted account balances trom Requirement 6BGL, tab. prepe an adjuhted triof bolance ag of April30 Required: 1. \& 2. Prepare journal entries to record the transactions for April and post them to ledger accourits in Requirement 6BGL tab. The company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6BGL tab, prepare an unadjusted trial balance as of April 30 . 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 6BGL tab, using Apria 30 Adjusted as the date. 5o. Using adjusted account balances from Requirement 68GL 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 retained earnings for the month of April 30 . 5d. Prepare the balance sheet at April 30 60. Prepare joumal entries to close the temporary accounts and then post to Requirement 6B GL. tab. using April 30 Close as the date. 6b. Post the joumal entries to the ledger 7. Prepare a post-closing thal balance Complete this question by entering your answers in the tabs below. Prepare the income-statement for the month of Aprili30. 5b. Prepare the income statement for the month of April 30 . 5c. Prepare the statement of retained earnings for the month of Aptil 30. 5d. Prepare the balance sheet at April 30 . 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6BGL tab, using April 30 Close as the date. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing triai balance. Complete this question by entering your answers in the tabs below. Prepare the income statement for the month of April 30
