required 1-7

On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozomi invented $44.000 cash and computer equipment worth $25,000 in the company. 2 The company rented furnished office space by paying $2,700 cash for the first month's (April) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid $2,700 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for two weeks' salaries earned by employees. 24 The company collected $9,000 cash for comissions earned 28 The company paid $1,700 cash for two weeks' salaries earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 30 The company paid $1,450 cash for this month's telephone bill. 30 Nozomi withdrew $2,400 cash from the company for personal use. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Ottice Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salarios Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawals 405 Commissions Earned 612 Depreciation Expense-computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Orlice Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Use the following information: a. Prepaid insurance of $150 has expired this month. b. At the end of the month, $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $600. d. Employees earned $400 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,050 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 the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of owner's equity for the month of April 30. 5c. Prepare the balance sheet at April 30. 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. Reg 1 and 2 Reg 3 Req 4 Ad) Entries Req 4 Adj Trial Bal Reg 5A Reg 5B Reg SC Reg 6A Req 68 GL Reg 7 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title Dobit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid Insurance 167: Computer equipment 168: Accumulated depreciation-Computer equipment 209: Salaries payable 301: J. Nozomi, Capital 302: J. Nozomi, Withdrawals 405: Commissions earned 612: Depreciation expense -Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense GAR. Tolanhana Gynne Req 1 and 2 Reg 3 Req 4 Adj Req 4 Adj Entries Trial Bal Reg SA Req 5B Reg 5C Req 6A Req 6B GL Reg 2 Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date. Do intermediate calculations and round the final answers to nearest whole number.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Req 5B Reg 5C Req 6A Req 6B GL Req 7 Prepare the statement of owner's equity for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) V 07 09 2010 OC C5: 130679 ADVENTURE TRAVEL Statement of Owner's Equity For Month Ended April 30 J. Nozomi, Capital, April 1 $ 0 J. Nozomi, Capital, April 30 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Ad) Entries Req 4 Adj Trial Bal Reg 5A Reg 58 Req 5C Req 6A Req 6B GL Reg 7 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets Total liabilities and equity > Req 6A (Reg 5B Req 1 and 2 Req 4 Adj Entries Req3 Req 4 Adi Trial Bal Reg SA Reg SB Reg 5C Reg 6A Reg 7 Req 6B GL Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the date. View transaction list Journal entry worksheet J. Nozomi, Withdrawals Commissions earned Debit Credit Date Debit Credit Balance Date Balance Depreciation Expense-Computer Equipment Date Debit Credit Balance Salarios Expense Debit Credit Date Balance Insurance Expense Debit Credit Rent Expense Debit Credit Date Balance Date Balance Office Supplies Expense Debit Credit Repairs Expense Debit Credit Date Balance Date Balance Insurance Expense Debit Credit Rent Expense Debit Credit Dato Balance Date Balance Office Supplies Expense Debit Credit Repairs Expense Debit Credit Date Balance Date Balance Telephone Expense Debit Credit Income Summary Debit Credit Date Balance Date Balance B. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Ad) Entries Req 4 Ad) Trial Bal Reg SA Req 58 Req 5C Req 6A Req 6B GL Reg 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals Use the following information: a. Prepaid insurance of $150 has expired this month. b. At the end of the month. $800 of office supplies are still available. c. This month's depreciation on the computer equipment is $600. d. Employees earned $400 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,050 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 the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30. 5b. Prepare the statement of owner's equity for the month of April 30. 5c. Prepare the balance sheet at April 30. 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