On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions occurred during the company's first month. April 2 Strods invested $46,000 cash and computer equipnent worth $23,400 in the company. April 3 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. April 4 The company purchased $2,400 of office supplies for cash. April 10 The company paid $2,520 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,820 cash for tvo veeks salaries earned by employees. April 24 The company ĉollected $16,000 cash for cormissions revenue. April 28 The company paid $1,820 cash for two veeks' salaries earned by employees. April 29 The company paid $500 cash for minor repalrs to computer equipment. April 30 The company paid $750 cash for this month's telephone bill. April 30 Strods vithdrev $1,900 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $140 expired this month. b. At the end of the month, $1,050 of office supplies are still available. c. This month's depreciation on computer equipment is $390. d. Employees earned $728 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,830 of commissions revenue that is not yet recorded at month-end.
On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions occurred during the company's first month. April 2 Strods invested $46,000 cash and computer equipnent worth $23,400 in the company. April 3 The company rented furnished office space by paying $2,200 cash for the first month's (April) rent. April 4 The company purchased $2,400 of office supplies for cash. April 10 The company paid $2,520 cash for a 12-month insurance policy. Coverage begins on April 11. April 14 The company paid $1,820 cash for tvo veeks salaries earned by employees. April 24 The company ĉollected $16,000 cash for cormissions revenue. April 28 The company paid $1,820 cash for two veeks' salaries earned by employees. April 29 The company paid $500 cash for minor repalrs to computer equipment. April 30 The company paid $750 cash for this month's telephone bill. April 30 Strods vithdrev $1,900 cash from the company for personal use. Information for month-end adjustments follows: a. Prepaid insurance of $140 expired this month. b. At the end of the month, $1,050 of office supplies are still available. c. This month's depreciation on computer equipment is $390. d. Employees earned $728 of unpaid and unrecorded salaries as of month-end. e. The company earned $1,830 of commissions revenue that is not yet recorded at month-end.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions occurred during the company's first
month.
April 2 Strods invested $46,000 cash and computer equipment worth $23,400 in the company.
April 3 The company rented furnished office apace by paying $2,200 canh for the firat month's (April) rent.
April 4 The company purchaned $2,400 of office nupplies for canh.
April 10 The company paid $2,520 cash for a 12-month insurance policy. Coverage begins on April 11.
April 14 The company paid $1,820 canh for two veeks salaries earned by employees.
April 24 The company collected $16,000 cash for comminsions revenue.
April 28 The company paid $1,820 cash for two veeks' nalaries earned by employees.
April 29 The company paid $500 cash for minor repaira to computer equipment.
April 30 The company paid $750 cash for this month'a telephone bill.
April 30 Stroda withdrew $1,900 cash from the conpany for personal use.
36:01
ed
Information for month-end adjustments follows:
a. Prepaid insurance of $140 expired this month.
b. At the end of the month, $1,050 of office supplies are still available.
c. This month's depreciation on computer equipment is $390.
d. Employees earned $728 of unpaid and unrecorded salaries as of month-end.
e. The company earned $1,830 of commissions revenue that is not yet recorded at month-end.
General
Journal
General
Ledger
Income
Statement
St Owners
Equity
Trial Balance
Balance Sheet Post Closing
Requirement
Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or
post-closing balances will appear for each account, based on your selection.
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