Question

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 premiun 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 $8,500 cash for commissions earned. 28 The company paid $1,600 cash for two weeks' salaries earned by employees, 29 The company paid $350 cash for winor repairs to the company's computer. 30 The company paid $850 cash for this month's telephone bill. 30 Nozomi withdrew $1,800 cash from the company for personal use. The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 Office Supplies 120 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation-Computer Equip. 209 Salaries Payable 301 3. Notoni, Capital 302 3. Nozomi, withdrawals 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

Answer 1

Adjusted trial balance total = $71540