In: Accounting
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 $44,000 cash and computer equipment worth $35,000 in the company in exchange for common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||
2 | The company rented furnished office space by paying $2,500 cash for the first month’s (April) rent. | |||||||||||||||||||||||||||||||||||||||||||||||||||
3 | The company purchased $1,800 of office supplies for cash. | |||||||||||||||||||||||||||||||||||||||||||||||||||
10 | The company paid $2,300 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. | |||||||||||||||||||||||||||||||||||||||||||||||||||
14 | The company paid $1,000 cash for two weeks' salaries earned by employees. | |||||||||||||||||||||||||||||||||||||||||||||||||||
24 | The company collected $16,500 cash on commissions from airlines on tickets obtained for customers. | |||||||||||||||||||||||||||||||||||||||||||||||||||
28 | The company paid $1,000 cash for two weeks' salaries earned by employees. | |||||||||||||||||||||||||||||||||||||||||||||||||||
29 | The company paid $400 cash for minor repairs to the company's computer. | |||||||||||||||||||||||||||||||||||||||||||||||||||
30 | The company paid $1,200 cash for this month's telephone bill. | |||||||||||||||||||||||||||||||||||||||||||||||||||
30 |
The company paid $2,400 cash in dividends. The company's chart of accounts follows:
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