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Problem 3-5A Applying the accounting cycle LO P1, P2, P3, P4, P5, P6, P7, P8 On Apri 1. Jiro Nozomi created a new travel agency. Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozoml invested $38,000 cash and cooputer equipent worth $25,000 in the conpany in exchange for comon stock. 2 The coepany rented furnished office space by paying $2, 10e cash for the first month's (Apri1) rent. 3 The conpany purchased $1,400 of office supplies for cash. 10 The cospany pald $2,400 cash for the premiun on a 12-month insurance policy. Coverage begins on Apri1 11. 14 the company paid $960 cash for two weeks' solarles earned by eeployces. 24 The coupany collected $13, seo cash for comilssions earned. 24 the coepany paid 3900 cash for two weeks' salaries earned by erployees. 20 The company paid $400 cash for ninor repairs to the company's conputer. 30 the corpany pold sbeo cash for this month's telephone bli1.. 30. The company paid $1,800 cash in dividends. The company's chart of accounts follows Use the following information: 0. 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 $400. d. Employees eamed $420 of unpaid and unrecorded salaries as of month-end. e. The company eamed $2,300 of commissions that are not yet billed at month-end. 1. \& 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The Required: 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. Joumalize the adjusting entries for the month and prepare the adjusted trial balance 5o. Prepare the income statement for the month of April 30 5b. Prepare the statement of retained eamings for the month of April 30. 5 c. 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 joumal entries to the ledger 7. Prepare a post-closing trial balance. Prepare journat entries to record the transactions for April and post them to the ledger accounts in Requirernent 6b. The company records prepaid and unearned items in balance sheet accounts. Journal entry worksheet Nozomi invested \$38,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. Notei Enter debits before credits. Journal entry worksheet The company rented furnished office space by paying $2,100 cash for the first month's (April) rent. Note: Enter debits before credits. Journal entry worksheet The company purchased $1,400 of office supplies for cash. Note: Enter debits before credits. Journal entry worksheet The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. Note: Enter debits before credits. Journal entry worksheet

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