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mework On April 1, Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. April 2 Nozomi invested $32,000 cash and computer equipment worth $30,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,400 cash For the first month's (April) rent. April 4 The company purchased $1,300 of office supplies for cash. April 10 The company paid $3,060 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $800 cash for two weeks salaries earned by employees. April 24 The company collected $11,000 cash for commissions revenue. April 28 The company paid $800 cash for two weeks' salaries earned by employees. April 29 The company paid $350 cash for minor repairs to computer equipment. April 30 The company paid $950 cash for this month's telephone bill April 30 The company paid $1,540 cash in dividends. The company's chart of accounts follows 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 403 Commissions Revenue 612 Depreciation Expense-Computer Equipment 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 658 office Supplies Expense 684 Repairs Expense 688 Telephone Expense Income Summary 901 319 Dividends Use the following information to prepare adjusting entries a. Prepaid insurance of $170 expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on computer equipment is $300 d. Employees earned $310 of unpaid and unrecorded salaries as of month-end e. The company earned $2,250 of commissions revenue that is not yet recorded at month-end Required: 1. & 2. Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 6B GL tab. The company records prepaid and unearned items in balance sheet accounts 3. Using account balances from Requirement 68 GL tab, prepare an unadjusted trial balance as of April 30 4. Journalize the adjusting entries for the month, and then post to the ledger on Requirement 68 GL tab, using April 30 Adjusted as the date. Se. Using adjusted account balances from Requirement 6B GL tab, prepare an adjusted trial balance as of April 30 5b. Prepare the income statement for the month of April 30 5c. Prepare the statement of retained earnings for the month of April 30 5d. Prepare the balance sheet at April 30 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 68 GL tab, using April 30 Close as the date. 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. ces Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Req SA Req 58 Req 5C Req 5D Req 6A Req 68 GL Reg 7 Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement 68 GL tab. The company records prepaid and unearned items in balance sheet accounts. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 Nozomi invested $32,000 cash and computer equipment worth $30,000 in the company in exchange for its common stock. Note: Enter detits before credits Date April 02 General Journal Debit Credit Record entry Clear entry View general journal Req3 References Complete this question by entering your answers in the tabs below. Req 1 and 21 Req 3 Req 4 Req 5A Req 58 Req 5C Req 50 Req 6A Req 6B GL Req 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 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 167: Computer equipment 188: Accumulated depreciation-Computer equipment 209: Salaries payable 307: Common stock 318: Retained earnings 319 Dividends 403: Commissions revenue 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688: Telephone expense Totals Debit Credit S 0 $ 0 > References Complete this question by entering your answers in the tabs below. Rec 1 and 2 Rec3 Req 4 Rec SA Req 58 Fung SC Reg 50 Req 64 Rec 68 CL PEG 7 Journalize the adjusting entries for the month, and then post to the ledger on Requirement 68 GL tao, using April 30 Adjusted as the date. (De not round intermediate calculations and round the final answers to nearest wheler View transaction list Journal entry worksheet 2 3 4 5 Prepaid insurance of $170 expired this month. Record the required adjusting entry. If any Note Transaction General Journal Dist Recond entry Clear entry View general jomal Rag SA > Sur answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req 5A Req 5B Req 5C Req 5D Req 6A Req 6B GL Req 7 Using adjusted account balances from Requirement 68 GL tab, prepare an adjusted trial balance as of April 30. 101: Cash ADVENTURE TRAVEL Adjusted Trial Balance April 30 Account Title 100: 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 403 Commissions revenue 612 Depreciation expense-Computer equipment 622 Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense 688 Telephone expense Totals Debit Credit 05 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 RSA Req 58 Req SC Req 50 Reg 6A Reg 6 GL Rea 7 Prepare the income statement for the month of April 30. ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues Expenses Total expere Hey SA HBC >> 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. Req 1 and 2 Req 3 Req 4 Req SA Req 58 Req SC Req 50 Req 6A Req 6B GL Req 7 Prepare the statement of retained earnings for the month of April 30. ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30 Retained earnings, April 1 $ 0 0 Retained eamings, April 30 $ ences Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req SA Req 5B Req 5C Req 5D Req 6A Req 68 GL Req 7 Prepare the balance sheet at April 30. Total assets Total equity Total liabilities and equity ADVENTURE TRAVEL Balance Sheet April 30 S $ Mc answers in the tabs below. Req 1 and 2 Req 3 Req 4 Req SA Req 58 Req 5C Req 5D Req 6A Req 68 GL Reg 2 Prepare journal entries to close the temporary accounts and then post to Requirement 68 GL tab. using April 30 Close as the date. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account(s). Note: Enter debts before credits Date April 30 General Journal Debit Credit Record entry Clear entry View general journal Prev Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Reg SA Req 58 Req 50 Req 50 Req 6A Req 68 GL Req 7 Post the journal entries to the ledget. (Select April 30 Adjusted as date for all adjusting entries, and April 30 Close as date for all closing entries.) General Ledger accounts Date 101: Cash Debit Credit Balance Date 105 Accounts Receivable Debit Credit Balance Date 124 Office Supplies Debit Credit Balance Date 120 Prepaid insurance Debit Credit Balance Date Slate Diate 167 Computer Epipment Debit Condit Balance 20 Salaries Payat 16 Accumulated Depreciation-Computer Equip Date Debit Credi Crvall Date 307 Cannon Stock Cletel Creat 218 Head Earnings Culull Crens Balance 215 Dividends Creat Betance Date Date Date Date Date Date Date 124: Office Supplies Debit Credit Balance Date 128: Prepaid Insurance Debit Credit Balance 167: Computer Equipment Debit Credit Balance 205: Salaries Payable Debit 163 Accumulated Depreciation-Computer Equipment Date Debit Credit Balance Credit Balance Date 307: Common Stock Debit Credit Balance Credit Balance Date 319 Dividends Debit Credit Balance 318: Retained Earnings Debit 403 Commissions Revenue Debit Credit Balance $12. Depreciation Expense-Computer Equipment Cate Debit Credit Balance 637: Insurance Expense Credit Balance Cate Debit Credit Balance 622 Salaries Expense Debit 640 Rand Expense Debit Credit Balance Clate 600: Office Supplies Expense Debit Credit Balance Date Date 403: Commissions Revenue Debit 612: Depreciation Expense-Computer Equipment Credit Balance Date 622 Salaries Expense Debit Debit Credit Balance Credit Balance Date 637: Insurance Expense Debit Credit Balance 640: Rent Expense 650 Office Supplies Expense Date Debit Credit Balance Date Debit Credit Balance Date Date 684: Repairs Expense Debit Credit Balance Date 688: Telephone Expense Debit Credit Balance 501 Income Summary Debit Credit Balance > d. Prepare the balance sheet at April 30. 6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6B GL tab, using April 30 Close as the da 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. Req 1 and 2 Req 3 Req 4 Req SA Req 58 Req 5C Req 5D Req 6A Req 68 GL Req 7 Prepare a post-closing trial balance. ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals $ 0 13

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