On April 1, Debbie Hall created a new travel agency, Hall Travel. The following transactions occurred...

  

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On April 1, Debbie Hall created a new travel agency, Hall Travel. The following transactions occurred during the company's first month. April 2 Hall invested $44,000 cash, and computer equipment worth $15,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,400 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 $1,800 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,548 cash for two weeks' salaries earned by employees. April 24 The company April 28 The company collected $20,000 cash for commissions revenue. paid $1,540 cash for two weeks' salaries earned by employees. April 29 The company paid $650 cash for minor repairs to computer equipment. April 30 The company paid $750 cash for this month's telephone bill. April 30 The company paid $1,700 cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $100 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 $250. d. Employees earned $616 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,790 of commissions revenue that is not yet recorded at month end. Requirement General Journal General Ledger Answer is not complete. Trial Balance Income Statement St of Retained Balance Sheet Post Closing Earnings Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Current assets: Cash Accounts receivable Office supplies Prepaid insurance Total current assets Plant assets: Current liabilities: Salaries payable Total liabilities Equity HALL TRAVEL Balance Sheet April 30 ASSETS LIABILITIES AND EQUITY 51,220 1,790 900 1,700 0 616 0 $ 55,610 $ < Prev 616 1 of 1 . On April 1, Debbie Hall created a new travel agency, Hall Travel. The following transactions occurred during the company's first month. April 2 Hall invested $44,000 cash, and computer equipment worth $15,000 in the company in exchange for its common stock. April 3 The company rented furnished office space by paying $2,400 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 $1,800 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,548 cash for two weeks' salaries earned by employees. April 24 The company April 28 The company collected $20,000 cash for commissions revenue. paid $1,540 cash for two weeks' salaries earned by employees. April 29 The company paid $650 cash for minor repairs to computer equipment. April 30 The company paid $750 cash for this month's telephone bill. April 30 The company paid $1,700 cash in dividends. Information for month-end adjustments follows: a. Prepaid insurance of $100 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 $250. d. Employees earned $616 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,790 of commissions revenue that is not yet recorded at month end. Requirement General Journal General Ledger Answer is not complete. Trial Balance Income Statement St of Retained Balance Sheet Post Closing Earnings Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Current assets: Cash Accounts receivable Office supplies Prepaid insurance Total current assets Plant assets: Current liabilities: Salaries payable Total liabilities Equity HALL TRAVEL Balance Sheet April 30 ASSETS LIABILITIES AND EQUITY 51,220 1,790 900 1,700 0 616 0 $ 55,610 $ < Prev 616 1 of 1 .

Answer rating: 100% (QA)

Cash Accounts Receivable Office Supplies Prepaid Insurance Comput... View the full answer