FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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on april 1 Jiro Nozomi created a new travel agency, adventure travel. the following transactions occured during the company's 1st month
april 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 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 (april) rent
april 3 the company purchased $1000 of office supplies for cash
april 10 the company paid $2400 cash for the premium on a 12-month insurance policy. coverage bgins april 11
april 14 the company paid $1600 cash for two weeks salaries earned by employees.
april 24 the company collected $8000 cash for commissions earned
april 28 the company paid $1600 cash for 2 weeks salaries earned by employees
april 29 the company paid $350 cash for minor repairs to the company's computer
april 30 the company paid $750 cash for this month's 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
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: Prepare a post-closing
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