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On Apel 1. Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's test month 20 pos Ski April 1 con invested 547.000 cash and computer equipment worth $35.00 in the company in change for con stock 2 The company rented furnished office space by paying $3,200 con for the first herit) ret. The company purchased $1,700 of office supplies for cash 10 The company paid $2,200 cash for the prentun on a 1. conth trance policy. Cover begins on erit 11. W layers the company collected $10,000 for commission revenu 28 The company paid $1,200 cash for the week salaries earned by employees 23 The company paid $450 cash for sine repairs to the company's computer. 30 the company paid 51,550 cash for this month's telephone bili 30 The company paid $2,200 cash in dividends. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 126 Prepaid Tosurance 167 Computer Equipment lated Depreciation Computer tout 200 salaries Payable 307 Como Stock 115 Hetined tarning 31 Dividends 405 Consions en 413 Depreciatia Expense-computer Equip 122 Salaries te 37 Intercerpent 4 Rest Expense sa office tupelis post 1 st pente 186 Telephone Expen 501 Toome tury Use the following information a. Prepaid insurance of $122 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 $500 d. Employees earned $320 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,700 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 Apnie 30 4. Joumalize the adjusting entries for the month and prepare the adjusted trial balance. 50. 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. 6o. 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. Journal entry worksheet Nozomi invested $47,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Date April 01 Record entry Clear entry View general journal Journal entry worksheet The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. 0 Note: Enter debits before credits. Date General Journal Debit Credit April 02 Record entry Clear entry View general journal Journal entry worksheet The company purchased $1,700 of office supplies for cash. Note: Enter debits before credits. General Journal Debit Credit Date April 03 Record entry Clear entry View general journal Journal entry worksheet The company paid $1,350 cash for this month's telephone bill. Note: Enter debits before credits. Date General Journal Debit Credit April 30 View general journal Record entry Clear entry The company paid $2,200 cash in dividends. Note: Enter debits before credits. General Journal Debit Credit Date April 30 View general journal Record entry Clear entry Debit Credit ADVENTURE TRAVEL Unadjusted Trial Balance April 30 Account Title 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 319: Dividends 405. Commissions revenue 612: Depreciation expense-Computer equipment 622: Salaries expense 637: Insurance expense 640: Rent expense 650: Office supplies expense 684: Repairs expense Debit Credit April 30 Account Title 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 319: Dividends 405: 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 Total Journal entry worksheet Employees earned $320 of unpaid and unrecorded salaries as of month-end. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal Journal entry worksheet April 30 Account Title Debit Credit 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 319: Dividends 405: 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 Total Spaie MIMILI SLALEITICEIU9IVIILIT IMPU ADVENTURE TRAVEL Income Statement For Month Ended April 30 Revenues oped Expenses Print Total expenses Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Req 4 Adj Entries Req 4 Adj Trial Bal Req 5A Reg 5B Reg 5C Red 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 Retained earnings, April 30 Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets Total equity Total liabilities and equity Prepare the balance sheet at April 30. ADVENTURE TRAVEL Balance Sheet April 30 Total assets Total equity Total liabilities and equity Journal entry worksheet Record the entry to close the income summary. Note: Enter debits before credits. General Journal Debit Credit Date April 30 Record entry Clear entry View general journal Journal entry worksheet 124: Office Supplies Debit Credit Date 128: Prepaid Insurance Debit Credit Balance Date Balance 167: Computer Equipment Debit Credit 168: Accumulated Depreciation-Computer Equip Debit Credit Balance Date Balance Date 209: Salaries Payable Debit Credit 307: Common Stock Debit Credit Date Balance Balance Date 318: Retained Earnings Debit Credit Date Balance 319: Dividends Debit Credit Date Balance 405: Commissions Revenue Debit Credit Date 612: Depreciation Expense-Computer Equip Date Debit Credit Balance Balance 622: Salaries Expense Debit Credit 637: Insurance Expense Debit Credit Date Balance Date Balance 640: Rent Expense Debit Credit Date Balance 650: Office Supplies Expense Debit Credit Date Balance 684: Repairs Expense Debit Credit 688: Telephone Expense Debit Credit Date Balance Date Balance 901: Income Summary Debit Credit Balance Date Prepare a post-closing trial balance, ADVENTURE TRAVEL Post-Closing Trial Balance April 30 Account Title Debit Credit Totals

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