90.2K

Verified Solution

Link Copied!

Need help filling in blank. I do not own copyrights.

April I Nozoni invested $39,000 cash and computer equipment worth $20,000 in the company. 2. The company rented furnished office space by paying $2,200 cash for the first nonth's (April) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid $2,100 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 $10,500 cash for conmissions earned. 28 The company paid $1,200 cash for two weeks' salaries earned by employees. 29 The company paid $500 cash for minor repairs to the cospany's computer. 30 The company paid $1,200 cash for this month's tetephone bill. 30 Nozomi withdrew $2,400 cash trom the company for personal use. The company's chart of accounts follows: Use the following information: a. Prepaid insurance of $117 has expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $600. d. Employees earned $510 of unpald and unrecorded salaries as of month-end. e. The company earned $2,500 of commissions that are not yet billed at month-end. Required: 1.8 2. Prepore 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 odjusting entries for the month and prepare the adjusted trial balance. 5a. Prepore the income statement for the month of April 30. 5b. Prepare the statement of owner's equity for the month of April 30. Req 1 and 2 Req 4 Adj Entries

Answer & Explanation Solved by verified expert

See Answer