On April 1 Jiro Nozomi created a travel agency, Adventure Travel. The following transactions occured during the company's first month. April 1 Nozomi invested $30,000 cash and computer equipment worth $20000 in the company in exchange for common stock. april 2 the company rented furnished office space by paying $1800 cash for the first month's rent april 3 The company purchased $1,000 of office supplies for cash april 10 the compant paid $2400 cash for the premium on a 12 month insurance policy coverage begins on april 11. april 14 the company paid $1600 cash for 2 weeks salaries earned by employess. april 24 the company collected $8000 cash for commissions earned april 28 the company paid $1600 cash for 2 weeks salaries earned april 29 the company paid $350 cash for minor repairs to the company's computer april 30 the company paid $750 cash for this months telephone bill april 30 the company paid $1500 cash in dividends use the following information: A. 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 $500  D. employees earned $420 of unpaid and unrecorded salaries as of month- end E. the company earned $1750 of commissions that are not yet billed at month-end Question: Make a Journal entry work sheet. Record the entry to close the revenue accounts, expense accounts, income summary and dividends acocunt.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter21: Cash Budgeting (cashbud)
Section: Chapter Questions
Problem 1R: On January 1, Sweet Pleasures, Inc., begins business. The company has 14,000 cash on hand and is...
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On April 1 Jiro Nozomi created a travel agency, Adventure Travel. The following transactions occured during the company's first month.

April 1 Nozomi invested $30,000 cash and computer equipment worth $20000 in the company in exchange for common stock.

april 2 the company rented furnished office space by paying $1800 cash for the first month's rent

april 3 The company purchased $1,000 of office supplies for cash

april 10 the compant paid $2400 cash for the premium on a 12 month insurance policy coverage begins on april 11.

april 14 the company paid $1600 cash for 2 weeks salaries earned by employess.

april 24 the company collected $8000 cash for commissions earned

april 28 the company paid $1600 cash for 2 weeks salaries earned

april 29 the company paid $350 cash for minor repairs to the company's computer

april 30 the company paid $750 cash for this months telephone bill

april 30 the company paid $1500 cash in dividends

use the following information:

A. 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 $500 

D. employees earned $420 of unpaid and unrecorded salaries as of month- end

E. the company earned $1750 of commissions that are not yet billed at month-end

Question: Make a Journal entry work sheet. Record the entry to close the revenue accounts, expense accounts, income summary and dividends acocunt.

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