Please help me with questions
3 and 4!
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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(being cash withdrawn for personal use.)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 |
Please help me with questions 3 and 4! On April 1, Jiro Nozomi created a new...
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 $34,000 cash and computer equipment worth $40,000 in the company 2 The company rented furnished office space by paying $1,500 cash for the first month's (April) rent. 3 The company purchased $1,000 of office supplies for cash. 10 The company paid $2,500 cash for the premium on a 12-month insurance policy. Coverage begins on April...
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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 $47,000 cash and computer equipment worth $35,000 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 $1,900 of office supplies for cash. 10 The company paid $2,700 cash for the premium on a 12-month insurance policy. Coverage begins on April...
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 $48,000 cash and computer equipment worth $30,000 in the company. 2 The company rented furnished office space by paying $1,600 cash for the first month’s (April) rent. 3 The company purchased $1,900 of office supplies for cash. 10 The company paid $2,500 cash for the premium on a 12-month insurance policy. Coverage begins on April...
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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 $34,000 cash and computer equipment worth $30,000 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 $1,100 of office supplies for cash. 10 The company paid $3,000 cash for the premium on a 12-month insurance...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month. April 1 Nozomi invested $31,000 cash and computer equipment worth $30,000 in the company. 2 The company rented furnished office space by paying $1,900 cash for the first month’s (April) rent. 3 The company purchased $1,400 of office supplies for cash. 10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on...
Problem 4-1A Applying the accounting cycle LO C2, P2, P3 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month April 1 Noron invested $36,000 cash and computer equipment worth $25,000 in the company. 2 The company rented furnished office space by paying $2,600 cash for the first month's (April) rent. 3 The company purchased $1,200 of office supplies for cash. 10 The company paid $2,900 cash for the...