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 $50,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,800 cash for the first month's (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,400 cash for 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 $22,000 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 paid $350 cash for minor repairs to the company's computer. 30 The company paid $950 cash for this month's telephone bill. 30 The company paid $2,100 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 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, $500 of office supplies are still available C. This month's depreciation on the computer equipment is $400. d. Employees earned $410 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,200 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 60. 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. es Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Reg 3 Req 4 Adj Trial Bal Reg 1 and 2 Req 5A Req 5B Req 50 Req 6A Req 7 Req 6B GL 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. View transaction list Journal entry worksheet 3 4 5 6 10 7 8 9 Nozomi invested $50,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. Note: Enter debits before credits. Date General Journal Debit Credit April 01 Record entry Clear entry View general journal Rog and Req3 > References Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Adj Entries Req 4 Adj Trial Bal Reg 7 Req SA Req 5B Reg 5C Req 6A Req 6B GL 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. View transaction list Journal entry worksheet The company rented furnished office space by paying $2,800 cash for the first month's (April) rent. Note: Enter debits before credits. General Journal Debit Credit Date April 02 Record entry Clear entry View general Journal Req3 > References Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Adi Entries Req 4 Adj Trial Bal Req SA Req 5B Req 5C Reg 6A Req 6B GL Req 7 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. View transaction list Journal entry worksheet The company purchased $1,000 of office supplies for cash, Note: Enter debits before credits General Journal Date April 03 Debit Credit Record entry Clear entry View general journal Req3 > References Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Adi Entries Req 4 Adj Trial Bal Req 5A Req 5B Req 5C Req 6A Req 6B GL Req 7 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. View transaction list Journal entry worksheet The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Note: Enter debits before credits Date General Journal Debit Credit April 10 Record entry Clear entry View general Journal Req3 > References Complete this question by entering your answers in the tabs below. Req 6B GL Req 7 Req 6A Req 5C Req 5B Req 5A Req 4 Adj Trial Bal Req 4 Adj Entries Req 1 and 2 Req3 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. View transaction list Journal entry worksheet > 4 5 6 7 10 8 9 rences Complete this question by entering your answers in the tabs below. Req 4 Adi Entries Reg 4 Adj Trial Bal Req 5A Reg 5C Req 1 and 2 Reg 6A Reg 5B Req3 Req 6B GL Req 7 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. View transaction list Journal entry worksheet The company collected $22,000 cash on commissions from airlines on tickets obtained for customers. Note: Enter debits before credits. Date General Journal Debit Credit April 24 Record entry Clear entry View general journal llen land? Req 3 > nces Complete this question by entering your answers in the tabs below. Req 7 Req 6B GL Req 6A Req 1 and 2 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5C Req3 Req 5A Req 5B 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. View transaction list Journal entry worksheet The company paid $1,300 cash for two weeks' salaries earned by employees. Note: Enter debits before credits. General Journal Debit Credit Date April 28 Record entry Clear entry View general journal Req3 > 25 Complete this question by entering your answers in the tabs below. Req 6A Reg 5C Reg 6B GL Req 7 Req 5B Req 4 Adj Trial Bal Req 4 Adj Entries Req 5A Reg 3 Req 1 and 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. View transaction list Journal entry worksheet The company paid $350 cash for minor repairs to the company's computer. Note: Enter debits before credits General Journal Debit Credit Date April 29 Record entry Clear entry View general joumal Req3 > nces Complete this question by entering your answers in the tabs below. Reg 7 Req 6B GL Req 6A Req 5C Req 4 Adj Trial Bal Req 5B Req 4 Adj Entries Reg SA Reg 3 Reg 1 and 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. View transaction list Journal entry worksheet 2 Complete this question by entering your answers in the tabs below. Req 7 Req 6A Req 6B GL Reg 5C Req 5A Reg 5B Reg 4 Adi Trial Bal Req 4 Adj Entries Req 1 and 2 Req3 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. View transaction list Journal entry worksheet 6 7. 8 9 10 5