Problem $3-5$A $($Algo$)$ Applying the accounting cycle LO P$1,$ P$3,$ P$4,$ P$5,$ P$6$

On April $1,$ Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month.

April $2$ Nozomi invested $$46,000$ cash and computer equipment worth $$20,000$ in the company in exchange for its common stock.

April The company rented furnished office space by paying $$2,100$ cash for the first month's $($April$)$ rent.

April $4$ The compaProblem $3-5$A $($Algo$)$ Applying the accounting cycle LO P$1,$ P$3,$ P$4,$ P$5,$ P$6$

On April $1,$ Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month.

April $2$ Nozomi invested $$46,000$ cash and computer equipment worth $$20,000$ in the company in exchange for its common stock.

April The company rented furnished office space by paying $$2,100$ cash for the first month's $($April$)$ rent.

April $4$ The company purchased $$2,000$ of office supplies for cash.

April $10$ The company paid $$2,700$ cash for a $12-$month insurance policy. Coverage begins on April $11.$

April $14$ The company paid $$1,100$ cash for two weeks' salaries earned by employees.

April $24$ The company collected $$13,000$ cash for commissions revenue.

April $28$ The company paid $$1,100$ cash for two weeks' salaries earned by employees.

April $29$ The company paid $$450$ cash for minor repairs to computer equipment.

April $30$ The company paid $$1,400$ cash for this month's telephone bill.

April $30$ The company paid $$1,500$ cash in dividends.

The company's chart of accounts follows:

$101$ 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

Use the following information to prepare adjusting entries:

a$.$ Prepaid insurance of $$150$ expired this month.

b$.$ At the end of the month, $$500$ of office supplies are still available.

c$.$ This month's depreciation on computer equipment is $$300.$

d$.$ Employees earned $$340$ of unpaid and unrecorded salaries as of month$-$end.

e$.$ The company earned $$2,350$ of commissions revenue that is not yet recorded at month$-$end.

Required:

& $2.$ Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement $6B$ GL tab. The

a$.$ Prepaid insurance of $$150$ expired this month.

b$.$ At the end of the month, $$500$ of office supplies are still available.

c$.$ This month's depreciation on computer equipment is $$300.$

d$.$ Employees earned $$340$ of unpaid and unrecorded salaries as of month$-$end.

e$.$ The company earned $$2,350$ of commissions revenue that is not yet recorded at month$-$end.

Requires:

& $2.$ Prepare journal entries to record the transactions for April and post them to ledger accounts in Requirement $6B$ GL tab. The company records prepaid and unearned items in balance sheet accounts.

Using account balances from Requirement $6$B GL tab, prepare an unadjusted trial balance as of April $30.$

Journalize the adjusting entries for the month, and then post to the ledger on Requirement $6$B GL tab, using April $30$ Adjusted as the date.

$5$a$.$ Using adjusted account balances from Requirement $6$B GL tab, prepare an adjusted trial balance as of April $30.$

$5$b$.$ Prepare the income statement for the month of April $30.$

$5$c$.$ Prepare the statement of retained earnings for the month of April $30.$

$5$ d$.$ Prepare the balance sheet at April $30.$

$6$a$.$ Prepare journal entries to close the temporary accounts and then post to Requirement $6B$ GL tab, using April $30$ Close as the date.

$6$ b$.$ 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.

Req $1$ and $2$

Req $3$

Req $4$

Req $5A$

Req $5$B

Req $5C$

Req $5$D

Req $6A$

Req $6$ B GL

Req $7$

Post the journal entries to the ledger.

Note: Select April $30$ Adjusted as date for all adjusting entries, and April $30$ Close as date for all closing entries.

$\backslash$table$[[$General Ledger accounts$],[101$: Cash,$106$: Accounts Receivable$],[$Date$,$Debit,Credit,Balance,Date,Debit,Credit,Balance$],[$April $2],[$e$|,,,,,,,]]$