Question

On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $49,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $2,700 cash for the first month's (April) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid $2,300 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 $17,500 cash for commissions earned. 28 The company paid $1,600 cash for two weeks' salaries earned by employees. 29 The company paid $450 cash for minor repairs to the company's computer. 30 The company paid $1,350 cash for this month's telephone bill. 30 The company paid $2,300 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 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 Salaries Expense 637 Insurance Expense 640 Rent Expense 650 Office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary
Please help me with questions 3 and 4!

Answer 1

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Nozomi	Answer -1 Journal Entries
Date	Account	Debit	Credit
April 1st	Cash	49,000.00
	Computer Equipment	35,000.00
	J. Nozomi, Capital		84,000.00
	(being share capital raised by providing cash and Equipment)
April 2nd	Rent Expense	2,700.00
	Cash		2,700.00
	(being rent paid for the month)
April 3rd	Office Supplies	1,400.00
	Cash		1,400.00
	(being office supplies purchased)
April 10th	Prepaid Insurance	2,300.00
	Cash		2,300.00
	(being insurance expense paid for the year)
April 14th	Salaries Expense	1,600.00
	Cash		1,600.00
	(being salaries paid for two weeks.)
April 24th	Cash	17,500.00
	Commission Earned		17,500.00
	(being commission income earned)
April 28th	Salaries Expense	1,600.00
	Cash		1,600.00
	(being salaries paid for two weeks.)
April 29th	Repairs Expense	450.00
	Cash		450.00
	(being repairs paid in cash.)
April 30th	Telephone Expense	1,350.00
	Cash		1,350.00
	(being Telephone Bill paid in cash.)
April 30th	Dividends	2,300.00
	Cash		2,300.00
	(being cash withdrawn for personal use.)
	Answer 3- Unadjusted Trial Balance	Debit	Credit
	Cash	52,800.00
	Accounts Receivable	-
	Office Supplies	1,400.00
	Prepaid Insurance	2,300.00
	Computer Equipment	35,000.00
	Accumulated Depreciation—Computer Equip.		-
	Salaries Payable		-
	J. Nozomi, Capital		84,000.00
	Dividends	2,300.00
	Commission Earned		17,500.00
	Depreciation Expense—Computer Equip.	-
	Salaries Expense	3,200.00
	Insurance Expense	-
	Rent Expense	2,700.00
	Office Supplies Expense	-
	Repairs Expense	450.00
	Telephone Expense	1,350.00
	Total	101,500.00	101,500.00

Answer 2 and 6 b- Ledger Cash Credit Debit 49,000.00 Date April 1st April 2nd April 3rd April 10th April 14th April 24th April 28th April 29th April 30th April 30th Account 1. Nozomi, Capital Rent Expense Office Supplies Prepaid Insurance Salaries Expense Commission Earned Salaries Expense Repairs Expense Telephone Expense Dividends 2,700.00 1,400.00 2,300.00 1,600.00 Balance 49,000.00 46,300.00 44,900.00 42,600.00 41,000.00 58,500.00 56,900.00 56,450.00 55,100.00 52,800.00 17,500.00 1,600.00 450.00 1,350.00 2,300.00 Date April 30th Account Commissions Earned Accounts Receivable Debit Credit 1,600.00 Balance 1,600.00 Office Supplies Credit Date April 3rd April 30th Account Cash Office Supplies Expense Debit 1,400.00 Balance 1,400.00 800.00 600.00 Prepaid Insurance Credit Date April 10th April 30th Account Cash Insurance Expense Debit 2,300.00 Balance 2,300.00 2,172.00 128.00

E F G H Computer Equipment Debit 35,000.00 Credit Date April 1st Account J. Nozomi, Capital Balance 35,000.00 Date April 30th Accumulated Depreciation-Computer Equip. Account Debit Credit Depreciation Expense-Computer Equip. 600.00 Balance 600.00 Salaries Payable Debit Date April 30th Account Salaries Expense Credit 500.00 Balance 500.00 J. Nozomi, Capital Debit Date April 1st April 1st April 30th April 30th Account Cash Computer Equipment Income Summary Dividends Credit Balance 49,000.00 49,000.00 35,000.00 84,000.00 9,572.00 93,572.00 91,272.00 2,300.00 Dividends Date Credit Account Cash Debit 2,300.00 Balance 2,300.00 April 30th Salaries Expense Date Credit April 14th April 28th April 30th Account Cash Cash Salaries Payable Debit 1,600.00 1,600.00 500.00 Balance 1,600.00 3,200.00 3,700.00

Insurance Expense Credit Date April 30th Account Prepaid Insurance Debit 128.00 Balance 128.00 Rent Expense Credit Date April 2nd Account Cash Debit 2,700.00 Balance 2,700.00 Credit Office Supplies Expense Debit 600.00 Date April 30th Balance Account Office Supplies 600.00 Repairs Expense Credit Date April 29th Account Cash Debit 450.00 Balance 450.00 Telephone Expense Credit Date April 30th Account Cash Debit 1,350.00 Balance 1,350.00 Commission Earned Date Debit April 24th April 30th Account Cash Accounts Receivable Credit 17,500.00 1,600.00 Balance 17,500.00 19,100.00 Date April 30th Depreciation Expense-Computer Equip. Account Debit Accumulated Depreciation-Computer Equip. 600.00 Credit Balance 600.00

Credit Debit Credit 19,100.00 Debit 52,800.00 1,600.00 800.00 2,172.00 35,000.00 Answer 4- Adjusted Trial Balance Cash Accounts Receivable Office Supplies Prepaid Insurance Computer Equipment Accumulated Depreciation-Computer Equip. Salaries Payable J. Nozomi, Capital Dividends Commission Earned Depreciation Expense-Computer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense Total Date April 30th April 30th April 30th April 30th April 30th April 30th April 30th April 30th Income Summary Account Commission Earned Depreciation Expense-Computer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense 600.00 500.00 84,000.00 Balance 19,100.00 18,500.00 14,800.00 14,672.00 11,972.00 11,372.00 10,922.00 9,572.00 600.00 3,700.00 128.00 2,700.00 600.00 450.00 1,350.00 2,300.00 19,100.00 600.00 3,700.00 128.00 2,700.00 600.00 450.00 1,350.00 104,200.00 104,200.00

Amount Answer 5 b-Statement of Owner's capital J. Nozomi, Capital Add: Net Income Less: Dividends J. Nozomi, Capital April 30, 2017 84,000.00 9,572.00 2,300.00 91,272.00 19,100.00 Answer 5 a- Income Statement Particulars Revenues Commission Earned Expenses Depreciation Expense-Computer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense Total Expenses Net Income 600.00 3,700.00 128.00 2,700.00 600.00 450.00 1,350.00 9,528.00 9,572.00 Answer 5 c-Balance Sheet Cash Accounts Receivable Office Supplies Prepaid Insurance Computer Equipment Accumulated Depreciation-Computer Equip. Total Assets Liabilities Salaries Payable Total Liabilities Amount 52,800.00 1,600.00 800.00 2,172.00 35,000.00 (600.00) 91,772.00 500.00 500.00 J. Nozomi, Capital Total Equity Total Liabilities & Equity 91,272.00 91,272.00 91,772.00

Credit Answer 6 a- Closing Entries Date Account April 30th Commission Earned Income Summary Debit 19,100.00 19,100.00 9,528.00 April 30th Income Summary Depreciation Expense-Computer Equip. Salaries Expense Insurance Expense Rent Expense Office Supplies Expense Repairs Expense Telephone Expense 600.00 3,700.00 128.00 2,700.00 600.00 450.00 1,350.00 9,572.00 April 30th Income Summary J. Nozomi, Capital 9,572.00 2,300.00 April 30th J. Nozomi, Capital Drawings 2,300.00 Answer 7- Post Closing Trial Balance Cash Accounts Receivable Office Supplies Prepaid Insurance Computer Equipment Accumulated Depreciation-Computer Equip. Salaries Payable J. Nozomi, Capital Total Debit Credit 52,800.00 1,600.00 800.00 2,172.00 35,000.00 600.00 500.00 91,272.00 92,372.00 92,372.00