Required:1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. Thecompany 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 30.5b. Prepare the statement of retained earnings 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.Req 1 and 2 Req 3Req 4 AdjEntriesReq 4 AdjTrial BalReq 5AReq 5BReq 5CReq 6AReq 6B GL Req 7Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The companyrecords prepaid and unearned items in balance sheet accounts. On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's firstmonth.April 1 Nozomi invested $34,000 cash and computer equipment worth $30,000 in the company in exchange for common stock.April 2 The company rented furnished office space by paying $2,300 cash for the first month's (April) rent.April 3 The company purchased $1,300 of office supplies for cash.April 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.April 14 The company paid $1,800 cash for two weeks' salaries earned by employees.April 24 The company collected $17,500 cash for commissions revenue.April 28 The company paid $1,800 cash for two weeks' salaries earned by employees.April 29 The company paid $500 cash for minor repairs to the company's computer.April 30 The company paid $1,300 cash for this month's telephone bill.April 30 The company paid $1,700 cash in dividends.The company's chart of accounts follows:101 Cash106 Accounts Receivable124 Office Supplies128 Prepaid Insurance167 Computer Equipment168 Accumulated Depreciation-Computer Equipment209 Salaries Payable307Common Stock318 Retained Earnings319 DividendsUse the following information:405Commissions Revenue612 Depreciation Expense-Computer EquipmentSalaries Expense622637Insurance Expense640650Rent ExpenseOffice Supplies Expense684 Repairs Expense688Telephone Expense901Income Summarya. Prepaid insurance of $133 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 $2,000 of commissions that are not yet billed at month-end.

Hi student Since there are multiple subparts asked, we will answer only first three subparts.…

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. d trial bala

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. d trial bala

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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