General Ledger Assignment #2( Saved 1 On April 1, Anita Strods created a...

90.2K

Verified Solution

Question

Accounting

General Ledger Assignment #2(
Saved
1
On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions occurred during the company's first month.
April 2 Strods invested $46,000 cash and computer equipment worth $23,400 in the company,
April 3 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent.
April 4 The company purchased $2,400 of office supplies for cash.
April 10 The company paid $2,520 cash for a 12-month insurance policy. Coverage begins on April 11.
April 14 The company paid $1,820 cash for two weeks' salaries earned by employees.
April 24 The company collected $16,000 cash for commissions revenue.
April 28 The company paid $1,820 cash for two weeks' salaries earned by employees.
April 29 The company paid $500 cash for minor repairs to computer equipment.
April 30 Strods
Information for month-end adjustments follows:
a. Prepaid insurance of $140 expired this month.
b. At the end of the month, $1,050 of office supplies are still available.
c. This month's depreciation on computer equipment is $390.
d. Employees earned $728 of unpaid and unrecorded salaries as of month-end.
e. The company earned $1,830 of commissions revenue that is not yet recorded at month-end.
Begin by selecting "Post-closing" from the drop-down below. Then, for each account, use the drop-down to indicate whether the account is included on the post-closing trial balance. Based on your decisions, the post-closing trial balance will be created. Compare your results with the Trial Balance tab.
Post-closi :
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students