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Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel.
Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $35,000 cash and computer equipment worth $40,000 in the company in exchange for common stock 2 The company rented furnished office space by paying $2,100 cash for the first month's (April) rent. 3 The company purchased $1,300 of office supplies for cash. 10 The company paid $3,000 cash for the premium on a 12-month insurance policy. Coverage begins on April 11 14 The company paid $1,000 cash for two weeks' salaries earned by employees. 24 The company collected $23,000 cash on commissions from airlines on tickets obtained for customers 28 The company paid $1,000 cash for two weeks' salaries earned by employees. 29 The company paid $450 cash for minor repairs to the company's computer. 30 The company paid $850 cash for this month's telephone bill. 30 The company paid $2,500 cash in dividends The company's chart of accounts follows
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