this is all one problem so please answer all parts
1&2:
3:
4:
5a:
5b:
5c:
6a:
6b:
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 Nozond invested $36,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,1ee cash for the first month's (April) rent. 3 The company purchased $1,680 of office supplies for cash. 10 The company paid $2,500 cash for the 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 $14, bee cash for commissions earned. 28 The company paid $1,300 cash for two weeks salaries earned by employees. 29 The company paid $458 cash for minor repairs to the company's computer. 30 The company paid $1,800 cash for this month's telephone bill. 30 The company paid $2,300 cash in dividends. The company's chart of accounts follows: 101 Cash 186 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 162 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Comissions 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. Prepaid insurance of $139 has expired this month. b. At the end of the month. $400 of office supplies are still available. c. This month's depreciation on the computer equipment is $400. d. Employees earned $340 of unpaid and unrecorded salaries as of month-end, e. The company earned $2,150 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 retained earnings 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. Req 1 and 2 Reg 3 Req 4 Ad) Entries Req 4 Adj Trial Bal Reg SA Reg 5B Reg 5C Req 6A Reg 6B GL Reg 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 Nozomi invested $36,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. Debit Credit Note: Enter debits before credits. Date General Journal April 01 Cash Computer equipment Common stock 36,000 25.000 61,000 Record entry Clear entry View general Journal 164 HY Entries Trial Bal "n 14 4 Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. Credit Debit 37,450 $ 1,600 2,500 25,000 ADVENTURE TRAVEL Unadjusted Trial 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: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: Commissions earned 612 Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Total $ 61,000 2,300 14,000 2,100 450 1,000 72,400 $ $ 75,000 Entries Trial Bal Journalize the adjusting entries for the month, and then post to the ledger on Req 68 tab, using April 30 Adj, as the date. (Do not round intermediate calculations and round the final answers to nearest whole number.) View transaction list Journal entry worksheet Prepaid insurance of $139 has expired this month. Note: Enter debits before credits Transaction General Journal Credit Debit 139 Insurance expense Prepaid insurance 139 Record entry Clear entry View general journal Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30. Credit Debit 37,450 2,150 400 2,361 25,000 $ 400 ADVENTURE TRAVEL Adjusted Trial 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: Salaries payable 307: Common stock 318: Retained earnings 319: Dividends 405: Commissions earned 612: Depreciation expense--Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684 Repairs expense 688: Telephone expense Total 340 61,000 2,300 69,661 $ 61,740 Complete this question by entering your answers in the tabs below. Req 58 Reg 5C Reg 6A Req 6B GL Reg 7 Req 1 and 2 Reg 3 Req 4 Adj Req 4 Ad) Reg SA Trial Bal Entries Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Commissions earned Expenses 0 Total expenses $ 0 Ren Adrian Ball Ro5 Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Adj Req 4 Ad) Entries Trial Bal Reg SA Req 5B Req 50 Reg 6 Reg 7 Req 68 GL Prepare the statement of retained earnings for the month of April 30. (Amounts to be deducted should be entered with a minus sign.) ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 S 0 0 Retained earnings, April 30 $ 0 Reg 1 and 2 Req 4 Adj Entries Reg 3 Reg 4 Adj Trial Bal Reg 5B Reg 5A Reg 5C Reg 7 Reg 6A Req 6B GL Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 0 $ 0 Total assets 0 Total equity Total liabilities and equity $ 0 BER DAA 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 3 Record the entry to close the revenue account(s). Note: Enter debits before credits. Credit Date General Journal Commissions eamed Debit 16,150 April 30 16,150 Income summary Record entry Clear entry View general journal 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 1 2 3 4 > Record the entry to close the expense account(). Debit Credit Note: Enter debits before credits. Date General Journal April 30 Income summary Depreciation expense-Computer equip Salaries expense Insurance expense Rent expense Office supplies expense Repairs expense Telephone expense Aliwal CA 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 2 3 4 Record the entry to close the income summary. Note: Enter debits before credits. Date General Journal Debit Credit April 30 Record entry Clear entry View general journal Ben SC Ren GB.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 Record the entry to close the dividends account Note: Enter debits before credits General Journal Debit Credit Date April 30 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Adi Reg 4 Adj Entries Trial Bal Req 5A Req 5B Req 50 Req 6A Req 6B GL Req 7 Debit Credit Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Cash Accounts receivable Office supplies Prepaid insurance Computer equipment PAccumulated depreciation - Computer equip Salaries payable Common stock Retained earnings 0 $ Totals
