Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On Apri 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 $30,000 cash and computer equipment worth $20, 000 in the company in exchange for common 2 The company rented furniahed ottice space by paying $1,800 cash for the first month' (April) rent. 3 The company purchased $1,000 of office aupplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on Apr1l 11. 14 The company paid $1,600 cash for two weeks salaries earned by eployees 24 The company collected $8,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1, 600 cash for two weeka' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer 30 The company paid $750 cash for this month's telephone bi11 30 The company paid $1,500 cash in dividends. The company's chart of accounts follows: 101 h 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 209 Salaries Payable 307 Common Stock 318 Retained Earnings 405 Comm1asions Earned 612 Depreciation Expe 622 Salaries Ex ter Equip 640 650 office Supplies Expense Equip. 901 Income Summary points a. Two-thirds (or $133) of one month's insurance coverage has expired. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500 d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. 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 and post the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2017 5b. Prepare the statement of retained earnings for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance Req 4 Adj Req 4 Adj entries for the month, and then post to the ledger on Req 68 tab, using April te (Do not round in No Tra ral d. 1,750 ints Req 4 Adj Req 4 Ad Entries Trial Bal Req 1 and 2 Req 3 Req SA Req 58Req 5C Req 6A Req 6B GL Req 7 or 2017 Expenses 3.620 350 7.553 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial BalReq SA Req 1 and 2 Req 3 Req 58 Prepare the statement of retained earnings for the month of April 30, 2017. Statement of Retained Earnings For Month Ended April 30, 2017 earnings, April 1, 2017S 2.197 2.197 1.500 697 Add: Net income Dividends Retained earnings, April 30, 2017 Req 4 Adj Req 4 Adj Req 1 and 2 Req 3 Entries Trial Bal Req 5A Req 5B Req SCReq 6A Req 6B GL Req 7 the 50,697 and e Req 4 Adj Trial Bal Req 4 Adj Req 1 and 2 Req 3 date. Office supplies expense 2.197 Req 4 Adj Req 4 Adj Req 1 and 2 Req 3 for that transaction in the date field. redit 30,000 30,000 1.750 1,600 75028,500 April 30 Div Debit 400 Debit April 30 Adj. on Stock Debit Balar 50,000 50,000 19752,197 42,447 Apil 30 Adj. 420 420 April 1 April 30 Rev 0 April 30 Div Retained Earnings Credit Balan Date Credit April 1 Commissions Earned Depreciation Expe omputer Equipment Debit Credit Debit Credit Date April 24 April 30 Adj, C April 30 8 0008,000 17509,750 Api 30 Ad500 500 April 30 9,750 Close Salaries Expense Debit Date April 14 Apil 28 1,600 April 30 Ad420 Credit Credit | 1.600| April 30 Adj 1330 133 1,600 3.200 Api April 30 Close 133 3,620 April 30 3.620 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post Closing Trial Balance April 30, 2017 Account Title Debit Credit 27,000 Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation-Computer equip. Salaries payable Common Stock 600 O 2.267 2,267 20,000 500 420 50,697 S 51,617 51,617 Totals What am I missing?? It says I am missing something in my answer. Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On Apri 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 $30,000 cash and computer equipment worth $20, 000 in the company in exchange for common 2 The company rented furniahed ottice space by paying $1,800 cash for the first month' (April) rent. 3 The company purchased $1,000 of office aupplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on Apr1l 11. 14 The company paid $1,600 cash for two weeks salaries earned by eployees 24 The company collected $8,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1, 600 cash for two weeka' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer 30 The company paid $750 cash for this month's telephone bi11 30 The company paid $1,500 cash in dividends. The company's chart of accounts follows: 101 h 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 209 Salaries Payable 307 Common Stock 318 Retained Earnings 405 Comm1asions Earned 612 Depreciation Expe 622 Salaries Ex ter Equip 640 650 office Supplies Expense Equip. 901 Income Summary points a. Two-thirds (or $133) of one month's insurance coverage has expired. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500 d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 of commissions that are not yet billed at month-end. Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. 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 and post the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2017 5b. Prepare the statement of retained earnings for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b. 6b. Post the journal entries to the ledger. 7. Prepare a post-closing trial balance Req 4 Adj Req 4 Adj entries for the month, and then post to the ledger on Req 68 tab, using April te (Do not round in No Tra ral d. 1,750 ints Req 4 Adj Req 4 Ad Entries Trial Bal Req 1 and 2 Req 3 Req SA Req 58Req 5C Req 6A Req 6B GL Req 7 or 2017 Expenses 3.620 350 7.553 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial BalReq SA Req 1 and 2 Req 3 Req 58 Prepare the statement of retained earnings for the month of April 30, 2017. Statement of Retained Earnings For Month Ended April 30, 2017 earnings, April 1, 2017S 2.197 2.197 1.500 697 Add: Net income Dividends Retained earnings, April 30, 2017 Req 4 Adj Req 4 Adj Req 1 and 2 Req 3 Entries Trial Bal Req 5A Req 5B Req SCReq 6A Req 6B GL Req 7 the 50,697 and e Req 4 Adj Trial Bal Req 4 Adj Req 1 and 2 Req 3 date. Office supplies expense 2.197 Req 4 Adj Req 4 Adj Req 1 and 2 Req 3 for that transaction in the date field. redit 30,000 30,000 1.750 1,600 75028,500 April 30 Div Debit 400 Debit April 30 Adj. on Stock Debit Balar 50,000 50,000 19752,197 42,447 Apil 30 Adj. 420 420 April 1 April 30 Rev 0 April 30 Div Retained Earnings Credit Balan Date Credit April 1 Commissions Earned Depreciation Expe omputer Equipment Debit Credit Debit Credit Date April 24 April 30 Adj, C April 30 8 0008,000 17509,750 Api 30 Ad500 500 April 30 9,750 Close Salaries Expense Debit Date April 14 Apil 28 1,600 April 30 Ad420 Credit Credit | 1.600| April 30 Adj 1330 133 1,600 3.200 Api April 30 Close 133 3,620 April 30 3.620 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post Closing Trial Balance April 30, 2017 Account Title Debit Credit 27,000 Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation-Computer equip. Salaries payable Common Stock 600 O 2.267 2,267 20,000 500 420 50,697 S 51,617 51,617 Totals What am I missing?? It says I am missing something in my