Week 5-Chapters 1, 2, & 4 Saved 1 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company" first month. 1 Nozomi invested 049,000 cash and computer equipment worth $30,000 in the company 2 The company rented furnished office apace by paying $2,800 cash for the first month'a (April) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid 02,900 cash for the premium on a 12-month ineurance poliey. Coverage begins on April 11. 14 The company paid 61,200 cash for two weeks' salaries earned by employees. 24 The company collected $23,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1,200 eash for two weeks salarien earned by employeen 29 The company paid $400 cash for minor repairs to the company's computer. April 70 points eBook Print 30 The company paid s850 cash for this month'a telephone bill. 30 Nozomi withdrew $1, so0 canh from the company for personal ue. ferences The company's chart of accounts follows: 405 Commas3ions Earned 101 Cash 106 Accounts Receivable 612 Depreciation Expenae-Computer Equip. 622 Salarien Expense 637 Inaurance Expense 640 Rent Expense 650 office Supplies Expense 604 Repairs Expense 680 Telephone Expense 901 Income Summary 124 orrice Supplien 128 Prepaid Insurance 167 Computer Equipment 160 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 J. Nozomi, Capital 302 J. Nozoms, Withdrawala Use the following information: a. Two-thirds (or $161) of one month's insurance coverage has expired. 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 $350 of unpaid and unrecorded salaries as e. The company earned $2,350 of commissions that are not yet billed at month-end. month-end Danulreds Week 5-Chapters 1, 2, & 4 Srved 1 101 Cash 405 Commiasions Earned 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salariea Payable 301 J. Nozomi, Capital 302 J. Nozomi, Withdrawala 612 Depreeiation Expense-Computer Equip. 622 Salarien Expense 637 Inaurance Expense 640 Rent Expense 650 Office Supplies Expenne 684 Repair Expense 688 Telephone Expense 901 Income Summary 70 points eBook Print Use the following information: References a. Two-thirds (or $161) of one month's insurance coverage has expired 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 $350 of unpaid and unrecorded salaries as of month-end e. The company earned $2,350 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. 5. Prepare the income statement for the month of April 30, 2017 5b. Prepare the statement of owner's equity for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 60. 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