egencyAdveture Travel The olowing ronactions Probiem 3-6A ocamed during the ompu
ID: 2542004 • Letter: E
Question
egencyAdveture Travel The olowing ronactions Probiem 3-6A ocamed during the ompunyfi month Applying the aceountig Noomi invesd .and cnt eit woh 200000 is the company in es 2 The company fice space by pay ing S1,300 cash for the fis month's (Aperil ofoffce sapplies for cash 0 The company parchased St. 10 The company paid $2.400 cash for the premisam on a 12-month insarance poliy Coverage 14 The company paid 51.600corwoeks salaries carned by employees 24 The company collected 58,0aomissions from ainlines on begins on April tickets obtained for The con pany paid $1,000 c,sh for two weex:·salaries earned by ensployees. The company paid $350 cash #os minor repar, to the company, computer. 28 29 30 The company paid 5750 casb for this month's teleplhone 30 The company paid S1,500 cash in dividends The company's chart of accounts follows 0 Cash 106 Accounes Receivable 124 Office Supplies 128 Prepaid Insurance 167 Computer Equipment 612 Depreciasion Expenss Computer Equip 22 Salaries Expense 37 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary 209 Salanies Payable 307 Common Seock 318 Retained Earnings 319 Dividends Required 1. Use the balance column format to set up cach ledger account listed in its c 2. Prepare journa I entries to record the transactions for April and post them to the ledger accounts. T company records prepaid and unearned items in balance sheet accounts 3. Prepare an unadjusted trial balance as of April 30 4. Use the following information to journalize and post adjusting entries for the Check (3)Uras, trial balance totals, $58.000 month: c4a Dr. Insura a. Two-thirds (or $133) of one month's insurance coverage has expired. b. At the end of the month. S600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500. d. Employees carned S420 of unpaid and unrecorded salaries as of month-end. e. The company carned S1.750 of commissions that are not yet billed at month-end. Expense, $133 5) Nat incor $2.197:Total assets, S 5. Prepare the adjusted trial balance as of April 30. Prepare the income statement and the statement of retained earnings for the month of April and the balance sheet at April 30, 2015 6. Prepare journal entries to close the temporary accounts and post these entries to the ledger Prepare a post-closing trial balance. (7) P-C trial totals, $51,617Explanation / Answer
1. Cash
Accounts Receivable:
Office Supplies
Prepaid Insurance
Computer Equipment
Common Stock
2. In the books of Adventure Travel:
3. Adventure Travel
Unadjusted Trial Balance
April 30
4. Adjusting Entries:
Date Debit Credit Balance April 1 30,000 30,000 April 2 1,800 28,200 April 3 1,000 27,200 April 10 2,400 24,800 April 14 1,600 23,200 April 24 8,000 31,200 April 28 1,600 29,600 April 29 350 29,250 April 30 750 28,500 April 30 1,500 27,000Related Questions
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