On April 1. 2016, Jiro 10 The 24 The company 28 The obtained for customers paid $1,600 cash for two weeks salaries earmed by employoes 30 The company paid $1,500 cash in dividends b. At the end of the month, $600 of office on the e. The company eamed $1,750 of s that are not yet billed at month-end Income Balance Sheet Post Cosing will only display ending Retained Earnings) to: Apr 30 697 April 30, 2016
| Income statement | ||
| Revenues: | ||
| Commissions earned | 9750 | |
| Expenses: | ||
| Depreciation expense-Computer equip | 500 | |
| Salaries expense | 3620 | |
| Insurance expense | 133 | |
| Rent expense | 1800 | |
| Office supplies expense | 400 | |
| Telephone expense | 750 | |
| Repairs expense | 350 | |
| Total expense | 7553 | |
| Net Income | 2197 | |
| ADVENTURE TRAVEL | |
| Statement of Retained Earnings | |
| For Month Ended April 30, 2016 | |
| Net Income | 2197 |
| Less- Dividend | 1500 |
| Retained Earnings April 30,2016 | 697 |
| ADVENTURE TRAVEL | ||
| Balance Sheet | ||
| April 30, 2016 | ||
| Assets | ||
| Cash | 27000 | |
| Accounts receivable | 1750 | |
| Office supplies | 600 | |
| Prepaid insurance | 2267 | |
| Computer equipment | 20000 | |
| Accumulated depreciation-Computer equip | 500 | 19500 |
| Total assets | 51117 | |
| Liabilities | ||
| Salaries payable | 420 | |
| Equity | ||
| J. Nozomi, Capital | 50697 | |
| Total liabilities and equity | 51117 | |
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