Question

On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.
April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company.
2 The company rented furnished 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 two weeks' salaries earned by employees.
24 The company collected $8,000 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.
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 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 owner's equity 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.
30 Nozomi withdrew $1,500 cash from the company for personal use.

Answer 1

Answer:46795

Explanation: