Question: GL0305 (Algo) - Based on Problem 3-5A LO P1, P3, P4, P5, P6 On April 1, Melanie Duerr created a new travel agency, Duerr Travel.



GL0305 (Algo) - Based on Problem 3-5A LO P1, P3, P4, P5, P6 On April 1, Melanie Duerr created a new travel agency, Duerr Travel. The following transactions occurred during the company's first month. Apri1 2 Duerr invested $43,000 cash and computer equiposent worth $21,600 in the company in exchange for its comunon stock. Apri1 3 The company rented furniahed office space by paying $1,900 cash for the first month's (April) rent. Apri1 4. The company purchased $1,800 of office supplies for cash. Apri1 10 The cospany paid $3,600 cash for a 12-month insurance policy. Coverage begins on April 11. Apri1 14 The company paid $1,400 cash for two weeks' salaries earned by erployees. Aprit 24 The company collected $26,000 cash for comaissions revenue. April 28 The company paid $1,400 eash for two weeks' salaries earned by employees. April 29 The company paid $500 cash for minor repairs to computer equipnent. April 30 The company paid $550 eash for this month's telephone bill. Apri1 30 the company paid $2,200 cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $200 expired this month. b. At the end of the month, $900 of office supplies are still available. c. This month's depreciation on computer equipment is $360. d. Employees earned $560 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,800 of commissions revenue that is not yet recorded at month-end. Unadjusted Adjusted Post-closing St of Retained Earnings Post Closing
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