On april 1, 2013, jiro nozomi created a new travel agency, adventure

On April 1, 2013, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.

April 1 Nozomi invested $47,000 cash and computer equipment worth $30,000 in the company.
2 The company rented furnished office space by paying $1,700 cash for the first month’s (April) rent.
3 The company purchased $1,600 of office supplies for cash.
10 The company paid $2,100 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.
14 The company paid $900 cash for two weeks’ salaries earned by employees.
24 The company collected $10,000 cash on commissions from airlines on tickets obtained for customers.
28 The company paid $900 cash for two weeks’ salaries earned by employees.
29 The company paid $300 cash for minor repairs to the company’s computer.
30 The company paid $1,350 cash for this month’s telephone bill.
30 Nozomi withdrew $1,600 cash from the company for personal use.

The company’s chart of accounts follows:

101 Cash 405 Commissions Earned
106 Accounts Receivable 612 Depreciation Expense—Computer Equip.
124 Office Supplies 622 Salaries Expense
128 Prepaid Insurance 637 Insurance Expense
167 Computer Equipment 640 Rent Expense
168 Accumulated Depreciation—Computer Equip. 650 Office Supplies Expense
209 Salaries Payable 684 Repairs Expense
301 J. Nozomi, Capital 688 Telephone Expense
302 J. Nozomi, Withdrawals 901 Income Summary

Use the following information:

a. Two-thirds (or $117) of one month’s insurance coverage has expired.
b. At the end of the month, $700 of office supplies are still available.
c. This month’s depreciation on the computer equipment is $300.
d. Employees earned $470 of unpaid and unrecorded salaries as of month-end.
e. The company earned $2,400 of commissions that are not yet billed at month-end.

6.

Required:
1.
The general ledger and all the necessary accounts are provided in Part 6.2. Post all journal entries, adjusting entries and closing entries to the general ledger given in Part 6.2

2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Part 6.2. The company records prepaid and unearned items in balance sheet accounts.

7.

3.
Using account balances from part 6.2, prepare an unadjusted trial balance as of April 30.

8.

4.
Journalize the adjusting entries for the month and then post to section 6.2. (Do not round intermediate calculations.)

9.

5.1
Prepare the income statement for the month of April 30, 2013.

5.2
Prepare the statement of owner’s equity for the month of April 30, 2013.

5.3
Prepare the balance sheet at April 30, 2013.

10.

6.1 Prepare journal entries to close the temporary accounts and then post to section 6.2.

6.2 Post the journal entries to the ledger.

Semester Papers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.