Problem 4-1A (Algo) Applying the accounting cycle LO P2 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 2 Noron invested 635,000 cash and computer equipment worth $25,000 in the company April > The company rented furnished office space by paying $1,700 cash for the first month's (April) rent. April 4 The company purchased $1.400 of office supplies for cash April 10 The company paid $2,700 cash for a 12-month insurance policy. Coverage begins on Apr 11. April 14 The company paid $1,500 cash for two weeks! salaries earned by employees April 24 The company collected $11,000 cash for comisione revenue April 28 The company paid $1,500 cash for two weeks' salaries earned by employees April 29 The company paid $450 cash for minor repair to computer equipment. April 30 The company paid $750 cash for this month's telephone 311. April 30 Nozomi withdrew 01.700 cash from the company for personal use. The company's chart of accounts follows: 101 Cash 403 Comissions Neves 106 Accounts Receivable 612 Depreciation perse-Computer Equipment 124 Office Supplies 622 salaries pense 128 Prepaid Insurance 637 Insurance Expense 167 Computer Iquipment 640 Rent Expense 168 Accumulated Depreciation Computer tuipment 650 Office Supplies Expense 209 Salaries Payable 684 Repairs Expense 301 J. Noroni, Capital 688 Telephone Tepesse 302 3. Nozomi, withdrawals 301 Income Sumaty Use the following information to prepare adjusting entries: a. Prepaid insurance of $150 expired this month b. At the end of the month, $600 of office supplies are still available c. This month's depreciation on computer equipment is $400. d. Employees earned $430 of unpaid and unrecorded salaries as of month-end, e. The company earned $1.900 of commissions revenue that is not yet recorded at month-end. TEN TY Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. Credit Debe 32.900 1,400 3.000 ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title 101: Cash 108: Accounts receivable 124: Otice supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation Computer equipment 209. Salarios payable 301: Nozomi, Capital 302: J. Nozomi, Withdrawals 403: Commissions revenue 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 654: Ropains pense 888: Telephone expense Total 0 $ 37 300$ Reg4 Record the required adjusting entry, if any. This month's depreciation on computer equipment is $400. N Enter debits before credits Debit General Journal Transaction Credit Record entry Clear entry View general journal Req3 ReqSA) He SA Med HOG MO SU MOGLA MO Joumalize the adjusting entries for the month, and then post to the ledger on Rea 68 tab, using April 30 Ad)as the date (Do not und intermediate calculations and round the final answers to nearest whole number Viewraction Journal entry worksheet 2 3 5 > Record the required adjusting entry, fany Employees earned 5430 of unpaid and unrecorded salaries as of month-end. Nate de ore credits Transaction General Journal Credit d. Record entry Clear entry View general Journal Journalize the adjusting entries for the month, and then post to the ledger on Req6B tab, using April 30 Adj. as the date. (Do not round Intermediate calculations and round the final answers to nearest whole number.) View transaction Journal entry worksheet 3 4 > Record the required adjusting entry, any. The company earned $1,900 of commissions revenue that is not yet recorded at month-end. Not Enter debits before credits Debi Credit Transaction General Journal View general Journal Record entry Clear entry ( Req3 Req5A) Reg 3 Rog4 Red 50 Rea SC Reg SA Req 50 Ree Rec SA Red 1 and 2 Reg 65 GL Using adjusted account balances from Reg 68 GL tab, prepare an adjusted trial balance as of April 30. Debit Credit ADVENTURE TRAVEL Adjusted That Balance April 30 Account Title 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 168: Accumulated depreciation Computer equipment 209: Salares payable 301:J. Noromi, Capital 302: Nozomi, Withdrawals 403: Commissions revenue 612 Depreciation expense Computer equipment 622: Salarios expense 6:37 Insurance expense 640: Rent expense 650: Office supplies expense 684 Repairs expense 588: Telephone expense Total 0 $ 0 $ Rila 50 Red 50 TG SA Resc Red 60 GL Reg 3 Reg4 Reg 7 RAGA Reg and 2 Prepare the income statement for the month of April 30 ADVENTURE TRAVEL Income Statement For Month Ended April 30 Hevenues Expenses 0 Total expenses $ 0 6. Post the journal entries to the ledger 7. Prepare a post-closing trial balance Complete this question by entering your answers in the tabs below. Req 5D Reg 6A Reg 68 GL Req 7 Reg 1 and 2 Req3 Req4 Reg 5 Reg 58 Reg 5C Prepare the statement of owner's equity for the month of April 30. ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30 J. Nozom, Capital. April 1 $ 0 $ J. Nozomi, Capital, April 30 7. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Reg SA Reg 58 Reg SC fou 50 Heg 6 Re 60 GL Heg? Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 0 0 Total assets Total abilities and equity Prov 6 of 7 18! Next > Reg 1 and 2 Rega Reg Reg SA Reg 50 Reg SC Reg 50 Reg 6 Reg 68 GL Reg 2 Prepare journal entries to close the temporary accounts and then post to Reg 66 GL tab, using April 30 Close as the date View transactions Journal entry worksheet 1 2 3 4 Record the entry to close revenue account(s). Note: Enter debit before credits Date General Journal Debit Credit April 30 Record entry Clear entry View general Journal Hod 55 kes Reg 5D Req6A Reg 68 GL Reg7 Prepare journal entries to close the temporary accounts and then post to Red 68 GL tab, using April 30 Close as the date. View transactions Journal entry worksheet Roland 2 Rega Reg 4 He SA Reg 55 Reqs Reg SD Reg 6 Reo 68 GL Reg 7 Prepare journal entries to close the temporary accounts and then post to Red 68 GL tab, using April 30 Close as the date. View transaction list Journal entry worksheet Record the entry to close income summary Net Enter debit before credits General Journal Debit Crudit Date April 30 Record entry Clear entry View general Journal Reg 1 and 2 Reg 3 Reg 4 RO SA Reg 58 Reg SC Reg SD Req Req 66 GL Reg 7 Prepare journal entries to close the temporary accounts and then post to Reg 68 GL tab, using April 30 Close as the date. View transaction list Journal entry worksheet 1 2 3 Record the entry to close the withdrawals account Note: En debits before credits General Journal Debit Credit Date April 30 Record entry Clear entry View general Journal eeur 101 C Dahill 106 Accounts Receivable Dabit Crean Credit Dato Balante 124: Om Supplies Debit Credit 126: Prepaid insurance Debih Credit Balance Date Date Balance 167: Computer Equipment Debit Credit 168: Accumulated Depreciation Computer equipment Credit Balance Date Debler Balance Date 301: J. Nozomi, Capital Debit Credit Balance 200: Salaries Payable Debat Credit Balance Date Data 20: Starts Payable Dett Credit 3011 Nom Capital Debit Credit Balance Da Da Date 302: Notom Withdwwal Det Credit 403: Commissions levenue Debat Credit Balance Data Date Balance 012 Depreciation Expense Computer Equipment Date Debit Credit Balance 622 Serie Expense Debit Credit Date 640: Rent Expense Debit Credit Balance Date 637: Insurance Expense Debat Credit Balance Date pen DHE 650: Om Supplies Expen Dab Credit 666 Repair Expanse De Credit Balance Date 901: Income Summary Debit Credit 688: Telephone Expense Debit Credit Balance Date Balance Date Reg7 >