On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred...

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On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozani Invested $45,000 cash and computer equipnent worth $25,000 in the company. 2 The company rented furnished office space by paying $2,900 cash for the first month''s (April) rent. 3 The company purchased $1, t00 of office supplies for cash. 10 The company paid $2,200 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for two weeks' salaries earned by employees. 24 The company collected $12,000 cash for commissions earned. 28 The company paid $1,7ee cash for two weeks salarles earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 30 The company paid $850 cash for this month's telephone bill. 3e Nozoni withdreu $2,100 cash from the company for personal use. The company's chart of accounts follows: 405 Commissions Earned 1e1 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipnent 160 Accumulated Depreciation-Computer Equip. 209 Salarles Payable 301 3. Nozoni, Capital 302 3. Nozomi, Mithdrawals 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 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 $400. d. Employees earned $580 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,450 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 company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize 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 owner's equity for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. 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. Complete this question by entering your answers in the tabs below. Reg 4 Adj Entries Reg 4 Adj Trial Bal Reg 1 and 2 Reg 3 Reg SA Reg 58 Reg 5C Reg 6A Reg 68 GL Req On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Nozani Invested $45,000 cash and computer equipnent worth $25,000 in the company. 2 The company rented furnished office space by paying $2,900 cash for the first month''s (April) rent. 3 The company purchased $1, t00 of office supplies for cash. 10 The company paid $2,200 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for two weeks' salaries earned by employees. 24 The company collected $12,000 cash for commissions earned. 28 The company paid $1,7ee cash for two weeks salarles earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 30 The company paid $850 cash for this month's telephone bill. 3e Nozoni withdreu $2,100 cash from the company for personal use. The company's chart of accounts follows: 405 Commissions Earned 1e1 Cash 106 Accounts Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipnent 160 Accumulated Depreciation-Computer Equip. 209 Salarles Payable 301 3. Nozoni, Capital 302 3. Nozomi, Mithdrawals 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 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 $400. d. Employees earned $580 of unpaid and unrecorded salaries as of month-end. e. The company earned $2,450 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 company records prepaid and unearned items in balance sheet accounts. 3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30. 4. Journalize 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 owner's equity for the month of April 30. 5c. Prepare the balance sheet at April 30. 6a. 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. Complete this question by entering your answers in the tabs below. Reg 4 Adj Entries Reg 4 Adj Trial Bal Reg 1 and 2 Reg 3 Reg SA Reg 58 Reg 5C Reg 6A Reg 68 GL Req

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Answer Given below Part 1 2 Date General Journal Debit Credit Apr 1 Cash 45000 Computer equipme... View the full answer