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Problem 3-5A Applying the accounting cycle LO P1, P2, P3, P4, P5, P6, P7, P8 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 invested $35,000 cash and computer equipment worth $40,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,700 cash for the first month's (April) rent. 3. The company purchased $1,800 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,200 cash for two weeks' salaries earned by employees. 24 The company collected $17,000 cash for commissions earned. 28 The company paid $1,200 cash for two weeks' salaries earned by employees. 29 The company paid $550 canh for minor repairs to the company's computer. 30 The company paid $1,000 cash for this month's telephone bill. 30 The company paid $1,600 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 267 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividende 405 Commissions Earned 612 Depreciation Expense-Computer Iquip. 622 salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 608 Telephone Expense 901 Income Summary Use the following information a. Prepaid insurance of $133 has expired this month Use the following information: a. Prepaid insurance of $133 has expired this month. b. At the end of the month, $700 of office supplies are still available c. This month's depreciation on the computer equipment is $600, d. Employees earned $370 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,650 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. Complete this question by entering your answers in the tabs below. Rega Reg 1 and 2 Reg 4 Adj Req 4 Adj Entries Trial Bal Reg SA Reg 58 Req 5C Reg 6 Reg 6B GL Req? Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requitement 66. The company records prepaid and uneared items in balance sheet accounts. Reg 1 and 2 Reg 3 Reg 4 Ad) Entries Reg 4 Adj Trial Bai Reg SA Reg 58 Reg 5C Reg 6 Req 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 ist 5 Nozomi Invested $35,000 cash and computer equipment worth $40,000 in the company in exchange for common stock 10 Do in the 2. The company regted furnished office space by paying $2,700 cash for the first month's (April) rent. The company purchased $1,800 of office supplies for cash. Credit 4. The company paid $2,400 cash for the premium on a 12- month insurance policy. Coverage begins on April 11. $ The company paid $1,200 cash for two weeks' salaries earned by employees Note: journal entry has been entered Prepare journal entries to record the transactions for April and post then records prepaid and unearned items in balance sheet accounts. View transaction list X: - - T- earned by employees. 6 The company collected $17,000 cash for commissions earned. 7 The company paid $1,200 cash for two weeks' salaries earned by employees. 8 The company paid $550 cash for minor repairs to the company's computer. 9 The company paid $1,000 cash for this month's telephone bill. 10 The company paid $1,600 cash in dividends. Note : = journal entry has been entered Record entry Clear entry Vil