Calibri 10 | A ' ' 101 III Custom BIU a-A- Wrap Text Merge Center - - % Clipboard Font Alignment Number 58 x 12000 Part XOOX C D E F H Accounting Cyde JM Travel and Tours is a travel agency that offers international and local travel services. The company is owned and operated by Justine Mendoza. The closing balances at the end of March 2020 and the chart of accounts are shown below $ 16,400 8,800 6,000 31,200 IM Travel and Tours Balance Sheet As at March 31, 2020 Assets Liabilities 1 Current Assets Current Liabilities 2. Cash $ 12.450 Accounts Payable 3 Accounts Receivable 6,420 Unearned Revenue - Prepaid Insurance Bank loan-current portion due 5 Totals Current Assets $ 18,870 Total Current Liabilities 6 Property, Plant & Equipment 7 Equipment 5 61,000 Bank Loan. Non-current portion 8 Accumulated Depreciation 17.2001 Total Liabilities 9 Total Property, Plant & Equipment 53,300 Owner's Equity 0 Mendoza Capital 31 Total Assets $ 72,170 Total Liabilities & Owners 22 3 Account Description Account Account Description 25 ASSETS REVENUE 26 Cash 101 Travel Service Revenue Case Study Journal Ledger Worksheet Adjustments 24,000 55,200 16.970 72,170 Account 400 Statements Closing Entries H Type here to search B: 13 X 12000 B D F G For the month of April 2020, IM Travel and Tours had the following transactions Apr 1 Prepaid $7,200 for insurance for one year Apr 1 Received $12,000 from Bank Loan to be repaid in 6 months plus accrued interest at 5% Apr 5 Paid $2,100 cash for April's rent Apr 6 Provided $15,000 of travel services for clients on account Apr 7 Incurred $9,200 in travel expenses to be paid next month Apr 11 Purchased equipment with $8,800 cash Apr 15 Paid $8,200 cash to reduce the balance of accounts payable 5 Apr 16 Justine invested 59.000 cash and equipment valued at $2,200 into the business 56 Apr 18 Received $3,210 from customers as payments on account for traveller services provided last month 57 Apr 20 Received a telephone bill for $1,710 which was paid same day 68 Apr 23 Paid $3,200 cash for employee's salaries 69 70 Pot 25 Received $15,000 cash in advance from clients who will receive travel services next month 71 Apr 26 Paid the monthly payment of the bank loan 5500 plus interest of $75. 72 Apr 22 Provided travel Services for clients for $30,000 cash 73 74 Ape 28 Paid $3,000 advertising expense for the promotion of the travel and tours in the month of April 75 Ar 29 The owner withdrew $2,500 cash for personal use 76 77 Since the loan is to be repaid in less than one year, use the Bank Loan Current Portion for the credit entry ** Use the Bank Loan Non-Current Portion for the credit entry since the same amount is still due over the next 12 78 months therefore anant of current portion has not changed Case Study Surnal Ledger Worlohet Adjustments Statements Cloung Entre Poito AB Type here to search DELL F2 F3 F4 04 FS F6 F7 FB FIO 2 $ % & #m 2 4 5 6 7 8 W R T Calibri 10 | A ' ' 101 III Custom BIU a-A- Wrap Text Merge Center - - % Clipboard Font Alignment Number 58 x 12000 Part XOOX C D E F H Accounting Cyde JM Travel and Tours is a travel agency that offers international and local travel services. The company is owned and operated by Justine Mendoza. The closing balances at the end of March 2020 and the chart of accounts are shown below $ 16,400 8,800 6,000 31,200 IM Travel and Tours Balance Sheet As at March 31, 2020 Assets Liabilities 1 Current Assets Current Liabilities 2. Cash $ 12.450 Accounts Payable 3 Accounts Receivable 6,420 Unearned Revenue - Prepaid Insurance Bank loan-current portion due 5 Totals Current Assets $ 18,870 Total Current Liabilities 6 Property, Plant & Equipment 7 Equipment 5 61,000 Bank Loan. Non-current portion 8 Accumulated Depreciation 17.2001 Total Liabilities 9 Total Property, Plant & Equipment 53,300 Owner's Equity 0 Mendoza Capital 31 Total Assets $ 72,170 Total Liabilities & Owners 22 3 Account Description Account Account Description 25 ASSETS REVENUE 26 Cash 101 Travel Service Revenue Case Study Journal Ledger Worksheet Adjustments 24,000 55,200 16.970 72,170 Account 400 Statements Closing Entries H Type here to search B: 13 X 12000 B D F G For the month of April 2020, IM Travel and Tours had the following transactions Apr 1 Prepaid $7,200 for insurance for one year Apr 1 Received $12,000 from Bank Loan to be repaid in 6 months plus accrued interest at 5% Apr 5 Paid $2,100 cash for April's rent Apr 6 Provided $15,000 of travel services for clients on account Apr 7 Incurred $9,200 in travel expenses to be paid next month Apr 11 Purchased equipment with $8,800 cash Apr 15 Paid $8,200 cash to reduce the balance of accounts payable 5 Apr 16 Justine invested 59.000 cash and equipment valued at $2,200 into the business 56 Apr 18 Received $3,210 from customers as payments on account for traveller services provided last month 57 Apr 20 Received a telephone bill for $1,710 which was paid same day 68 Apr 23 Paid $3,200 cash for employee's salaries 69 70 Pot 25 Received $15,000 cash in advance from clients who will receive travel services next month 71 Apr 26 Paid the monthly payment of the bank loan 5500 plus interest of $75. 72 Apr 22 Provided travel Services for clients for $30,000 cash 73 74 Ape 28 Paid $3,000 advertising expense for the promotion of the travel and tours in the month of April 75 Ar 29 The owner withdrew $2,500 cash for personal use 76 77 Since the loan is to be repaid in less than one year, use the Bank Loan Current Portion for the credit entry ** Use the Bank Loan Non-Current Portion for the credit entry since the same amount is still due over the next 12 78 months therefore anant of current portion has not changed Case Study Surnal Ledger Worlohet Adjustments Statements Cloung Entre Poito AB Type here to search DELL F2 F3 F4 04 FS F6 F7 FB FIO 2 $ % & #m 2 4 5 6 7 8 W R T