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Use table 6.2 (first picture) to complete the balance sheet, trial balances, etc. Problem 36A Applying the accounting cycle LO P1, P2, P3, P4, P5

Use table 6.2 (first picture) to complete the balance sheet, trial balances, etc. image text in transcribed
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Problem 36A Applying the accounting cycle LO P1, P2, P3, P4, P5 IThe following information applies to the questions displayed below/ On April 1, 2015. Jiro Nozoml created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apr 1 Nozom Invested$23,000 cash and computer equipment worth $20,000 In the company exchange for common stock. 2 The company rented furnished office space by paying $1,500 cash for the first month's (Apr0 rent. 3 The company purchased $1.300 of office supples for cash. 10 company paid $2.200 cash for the premium on a 12-month insurance polcy Coverage begins on April 14 The company pald $800 cash for two weeks' salaries earned by employees. 24 The company collected $11.500 cash on commissions from arrlines on tckets obtained for customers. 28 The company paid $800 cash for two weeks salaries earned by employees. 29 The company paid $350 cash for mlnor repairs to the companys computer 30 The company pald $850 cash for this month's telephone bill 30 The company paid S1100 cash In dividends. The company's chart of accounts follows: 405 Commissions Earned 101 612 Depreclation Expense-Computer Equip. 106 Accounts Receivable 622 Salaries Expense 124 Office Supplies 637 nsurance Expense 128 Prepaid Insurance 640 Rent Expense 167 Computer Equlpment 168 Accumulated Depreclation-Computer Equlp. 650 Office Supplies Expense 684 Repairs Expense 209 Salanes Payable 688 Telephone Expense 307 Common Stock 901 Income Summary 318 Retained Earnings 319 Dividends Use the following information in Part 4 a. Two-thirds (or $122) of one month's Insurance coverage has expired. b. the of the month, $800 of office supplles are stll avellable. c. This month's depreciation on the computer equipment is $500, d. Employees earned $360 of unpaid and unrecorded salaries as of month-end. e. The company earned $2100 of commissions that are not yet blled at month-end

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