1. Prepare journal entries to record the transactions for April and post them to the ledger accounts (Assume that prepaid expenses are initially recorded in asset accounts and that commissions collected in advance of work are initially recorded as liabilities).
2. Using account balances from the above part, prepare an unadjusted trial balance as of April 30.
3. Journalize the adjusting entries for the month and prepare the adjusted trial balance.
4. Prepare the income statement for the month of April 30, 2015.
5. Prepare the statement of owner's equity for the month of April 30, 2015.
6. Prepare the balance sheet at April 30, 2015.
7. Prepare journal entries to close the temporary accounts.

April 1 Al-Waleed Invested $37,000 cash and computer equipment worth $30,000 in the company. 2 The company rented furnished office space by paying $2,900 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month Insurance policy. Coverage begins on April 11. 14 The company paid $1,300 cash for two weeks' salaries earned by employees. 24 The company collected $9,500 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,300 cash for two weeks' salaries earned by employees 29 The company pald $350 cash for minor repairs to the company's computer. 30 The company pald $850 cash for this month's telephone bill. 30 Al-Waleed withdrew $2,200 cash from the company for personal use. The company's chart of accounts follows: 101 Cash 106 Accounts Recelvable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 D. Al-Waleed, Capital 302 D. Al-Waleed, Withdrawals 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Use the following Information: a. Two-thirds (or $133) of one month's Insurance coverage has expired. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $410 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,050 of commissions that are not yet billed at month-end