Problem 3-6A Applying the accounting cycle LO P1, P2, P3, P4, P5 On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. Apri1 1 Nozont invested 930, 000 cash and computer equipsent worth $20,000 in the company in exchange tor comon stock. 2 The company rented furniahed office space by paying $1,800 cash for the first month's (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2, 400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. 14 The company paid $1,600 cash for tro weeks' salaries earned by employees 24 The company collected se,000 cash on commissions from airlines on tickets obtained for customers. 28 The company paid $1, 600 cash for two weeks' salaries earned by employees. 29 The company paid $350 cash for minor repairs to the company's computer. 30 The company paid $750 cash for this month's telephone bill. 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 Aceumulaced Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 310 Retained Earninga 319 DIvidend 405 Commissions Earned 612 Depreciation Expense-Computer Equip 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 orrice Suppiies Expense 684 Repaizs Expense 608 Telephone Expense 901 Income 3ummary points a. Two-thirds (or $133) of one month's insurance coverage has expired b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees earned $420 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,750 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. The 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 and post the adjusting entries for the month and prepare the adjusted trial balance. 5a. Prepare the income statement for the month of April 30, 2017 5b. Prepare the statement of retained earnings for the month of April 30, 2017 5c. Prepare the balance sheet at April 30, 2017 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. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts. No General Journal redit April 01 Cash 30,000 20,000 points Computer equipment Common Stock 0,000 April 02 Rent expense 1,800 Cash 1,800 Api 03Office supplies 1,000 Cash 1,000 April 10 Prepaid insurance 2.400 Cash 2,400 Api 14 Salaries expense 1,600 Cash 600 8.0000 Apil 24 Cash Commissions earned ,000 April 28 Salaries expense 1,600 Cash 1,6000 April 29 Repairs expense 50 Cash 50 Aperil 30 Telephone expense 7500 Cash 750 10 April 30 DiMidends 1,500 Cash 1,500 Answer is not complete. Complete this question by entering your answers in the tabs below Req 1 and 2 Req 4 Adj Req 3 Entries Trial Bal Req 5A Req 5B Req SC Req 6A Req 6B GL Req 7 from Requirement 6b, prepare an unadjusted trial balance as of April 30. Unadjusted Trial Balance April 30, 2017 Account Title Debit 101: Cash 106: Accounts receivable 124: Office supplies 128 Prepaid insurance 16T: Computer equipment 168: Accumulated depreciation Computer equipment 209: Salaries payable 307 Common Stock 318: Retained earnings 319: Dividends 405: Commissions eamed 612: Depreciation expense Computer equipment 622 Salaries expense 37: Insurance expense 640 Rent expense 650: Office supplies expense 684: Repairs expense 688 Telephone expense 7,000 1,0000 2.400 20,000 c 0,000 1,500 8,000 3.200 1800 350 Total 58,000 |$ 58,000 | Answer is not complete. Complete this question by entering your answers in the tabs below Req 4 Adj Entries Req 4 Adj Trial Bal Req 1 and 2 Req 3 Req SAReq SB Req SC Req 6A Req 6B GL Req 7 Journalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date. (Do not round intermediate calculations and round the final answer to nearest whole number.) No Transaction General Journal Debit Credit a. Insurance expense Prepaid insurance 133 b. Office supplies expense 400 Office supplies C. Depreciation expense-Computer equip 500 Accumulated depreciation Computer equip 500 d. Salaries expense 420 Salaries payable 420 Accounts receivable 1,750 Commissions earned 1,750 points & Answer is not complete. Complete this question by entering your answers in the tabs below. Req 4 Adj Entries Req 4 Adj Trial BalReq SA Req 1 and 2 Req 3 Req 5C Req 6A Req 6B GL Req 7 Req 5B Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30 ADVENTURE TRAVEL Adjusted Trial Balance April 30, 2017 Debit 101: Cash 106: Accounts recevable 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 405: Commissions earned 612: Depreciation expense-Computer equipment 622 Salaries expense 637: Insurance expense 640 Rent expense 650 Office supplies expense 684: Repairs expense 688. Telephone expense 7,000 2,400 20,000 0,000 1,500 8,000 1800 350 750 58,000 Total 58,000 Answer is not complete. Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3Req 4 Ad Req 4 Adj Entries irial ba Reg SA Req SBReq SCReq GA Rea 6B GL Req 7 Prepare the balance sheet at April 30, 2017. ADVENTURE TRAVEL Balance Sheet April 30, 2017 Assets Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation-Computer equip. Total assets S 27,000 1,750 600 2.267 20,000 0019,500 51,117 Liabilities Salaries payable Equity Common Stock 50,697 Total equity Total liabilities and equity 50,697 S 51,117 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 3 Red 4 Ad Req 4 Ad Prepare the statement of retained earnings for the month of Apri 30, 2017. Req 5C Req 6A Req Entries Trial BalReq SA Req 5B ADVENTURE TRAVEL Statement of Retained Earnings For Month Ended April 30, 2017 Retained earnings, April 1, 2017 Add: Net income 2.197 2,197 1,500 697 Less: Dividends Retained earnings, April 30, 2017 Answer is not complete. Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3Req 4 Adj Req 4 Adj Entries Trial Bal Prepare journal entries to close the temporary accounts and then post to Req 6B General Ledger, using April 30 Close as the date. No Date April 30 Debit Credit Commissions eamed 9,750 Income summary 9,750 April 30 Income summary 7.553 5000 Depreciation expens Salaries expense Insurance expense Rent expense Office supplies expense Telephone expense Repairs expense equip. 3,620 1,800 400 350 0 750 2,197 April 30 Income summary Retained Earnings .197 4 April 30 Cash 1.5000 Dividends ,500 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3Req 4 Adj Req 4 Adj Entries Trial Bal Req SA Req 5B Req 5C Req 6A Req 6B GL Req 7 Post the journal entries to the ledger. If there is more than one transaction on a specific date, make sure to select the specific (abbr choice for that transaction in the date field. General Ledger accounts Cash Accounts Receivable Debit Date Apnl 1 30,000 April 2 April 3 April 10 April 14 Apil 248,000 April 28 April 29 April 30 Tel. April 30 Div Credit Date redit 30,000 1,80028.200 1,00027.200 240024,800 1.600 23.200 31,200 1,60029,600 350 29.250 75028,500 1,50027000 April 30 Adj. 1,750 Office Supplies Debit Prepaid Insurance Debit Date Apil 3 1,000 April 30 Adj Credit Date CreditBalance 1,000 April 102.4000 2,400 400 600 Agni 30 Ad 2.4000 Computer Equipment Debit Accumulated Depreciation-Computer equipment Date Credit Balance Date Debit Credit April 1 20,0000 20,000 April 30 Ady 500 500 Credit Balance Credit Date April1 April 30 Rev April 30 Div 9,750 Date Debit April 30 Adj 420 420 A 0,00050,000 52,197 42,447 Retained Earnings Dividends Date Credit Balance Date Debit Credit Balance April 1 Commissions Earned Depreciation Expense-Computer Equipment Date Debit Debit Date April 24 April 30 Adj April 30 Credit Balance Credit Balance 8,0008,000 150 9,750Close | April 30 Adj April 30 500 500 500 Close e9,750 Salaries Expense Debit Insurance Expense Debit Credit Balance Date April 14 1,600 April 28 1,600 April 30 Adj 420 Date Credit Balance 1,600 3,200 3,620 April 30 Adj 133 133 Apri 30 Close 133 April 30 3,620 000-250 Rent Expense Office Supplies Expense Balance Debit April 21,800 April 30 Close Apni 30 Adj 400 April 30 Close 1,800 400 1,800 400 Repairs Expense Debit Telephone Expense Debit Date Credit Balance Credit Balan April 29 April 30 Close 350 Apil 30 750 350 750 350 April 30 Close 750 Income Summary Debit April 30 Rev 3 April 30 7,553 April 30 2.197 Credit Balance 9750 9,750 2,197 Close Prepare a post-closing trial balance. ADVENTURE TRAVEL Post Closing Trial Balance April 30, 2017 Account Title Debit Credit Cash Accounts receivable Office supplies Prepaid insurance Computer equipment Accumulated depreciation- Computer equip. Salaries payable Common Stock 27,000 1.750 600 2.267 20.000 500 420 50,697 6 Totals |$ 51,617 |S 51,617 What am I missing?? It says I am missing something in my