Use the following information: a. Two-thirds (or $133) of one monthi's insurance coverage has expired
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 $1,750 of commissions that are not yet billed at month-end
Required:
1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts
3. Using account balances from Requirement 6b. prepare an unadjusted trial balance as of Apnil 30
4. Journalize the adjusting entries for the month and prepare the adjusted trial balance 50.
5a. Prepare the income statement for the month of April 30, 2017
5b. Prepare the statement of owner's equity for the month of Apri 30
5c. Prepare the balance sheet at April 30. 2017
6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger
7. Prepare a post-closing trial balance