Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 sed $1,500 of office supplies for cash 10 The company paid $2,100 cash for the premium on a 12-month insurance policy. Coverage begins on April 11 24 The company collected $22,500 cash on commissions from airlines on tickets obtained for customers 28 The 29 The 30 The company paid $1,400 cash for this month's telephone bill paid $500 cash for minor repairs to the company's computer 106 168 Accumulated Deprecia b. At the end of the month, $500 of office supplies are still available Use the following information: a. Two-thirds (or $117) 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 $600. d. Employees earned $470 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,400 of commissions that are not yet billed at month-end Required: & 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. ces 2030 Complete this question by entering your answers in the tabs below Req 1 and 2 Reg 3 Req 4 Adj Req 4 Adj Trial Bal Req SAReq 58 Req 5CReq 6A Req 68 GL Req7 Entries for April and post them to the ledger accounts in Requirement 6b. The Prepare journal entries to ournal entry worksheet 8 Reg 1 and 2 Req 3 Reao 4 Ad Reg 4 Ad Entries Trial Bal Req SA Req 5B Req SC 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 items in bal ance sheet accounts. View transaction list Journal entry worksheet 6 9 Nozomi invested $30,000 cash and computer equipment worth $30,000 in the company in exchange for common stock. Debit April 01 Clear entry View general journal compahy reebrds bRepaid snd unearned ltems Ih balance sheet accounts. View transaction list Journal entry worksheet 3 4 5678910 The company rented furnished office space by paying $2,900 cash for the first month's (April) rent. Note: Enter debits before credits. Date General Journal Debit Credit April 02 Record entry Clear entry View general journal Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requir company records prepaid and unearned Items in balance sheet accounts. View transaction list Journal entry worksheet 2 4567 89 10 The company purchased $1,500 of office supplies for cash. Note: Enter debits before credits. General Journal Debit April 03 Clear entry View general journal Record entry pare journal entries to record the transactions for April and post them to the ledger accounts in Requi company records prepaid and unearned Items In balance sheet accounts 30 View transaction list Journal entry worksheet 3 5 The company paid $2,100 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Date Credit April 10 Clear entry View transaction list Journal entry worksheet 10 The company paid $1,200 cash for two weeks salaries earned by employees. Date Credit April 14 Clear entry 8 of 8 . ll 8 0f 8 Req 1 and 2 Req3 Re4 Adj Req 4 Ad Trial BalRe S Req s8 Req 5C Prepare the balance sheet at April 30, 2017 Balance Sheet 2017 es Total assets Total equity Journal entry worksheet Record the entry to close revenue account(s) Note: Enter debits before credits. April 30 Record entry Clear entry KReg 5C View transaction list Journal entry worksheet 3 4 es Record the entry to close expense account(s). Debit Credit April 30 View general journal Record entry Clear entry Prev 8018. Next View transaction list Journal entry worksheet 2 ferences Record the entry to close income summary Date April 30 View general j Clear entry Req 88 GL>
