Tami Martin opened a real estate office she called Martin Realty. During May, she completed these transactions:

May 3 Invested \(\$ 3,000\) in cash and antomobile having a \(\$ 15,000\) fair value in the real estate agency.

May 3 Rented furnished office space and paid one month's rent, \(\$ 750\).
4 Purchased office supplies for cash, \$225.
8 Paid the premium on a one-year insurance policy, \(\$ 1,080\).
14 Paid the salary of the office secretary for two weeks, \(\$ 600\).
16 Sold a house and collected an \(\$ 8,010\) commission.
28 Paid the salary of the office secretary for two weeks, \(\$ 600\).
31 Paid the May telephone bill, \(\$ 75\).
31 Paid for gas and oil used in the agency car during May, \(\$ 90\).
\section*{Required work for May}
1. Open these accounts: Cash; Prepaid Insurance; Office Supplies; Automobile; Accumulated Depreciation, Automobile; Salaries Payable; Tami Martin, Capital; Tami Martin, Withdrawals; Income Summary; Commissions Earned; Rent Expense; Salaries Expense; Gas, Oil, and Repairs Expense; Telephone Expense; Insurance Expense; Office Supplies Expense; and Depreciation Expense, Automobile.
2. Prepare and post journal entries to record the transactions.
3. Prepare an unadjusted trial balance on a work sheet form and complete the work sheet using the following information.

a. Two thirds of a month's insurance has expired.

b. An inventory shows \(\$ 185\) of unused office supplies remaining.

c. Estimated depreciation on the automobile, \(\$ 250\).

d. Earned but unpaid salary of the office secretary, \(\$ 60\).
4. Prepare an income statement and a statement of changes in owner's equity for May, and prepare a May 31 classified balance sheet.
5. Journalize and post adjusting and closing entries.
6. Prepare a post-closing trial balance.
During June, Tami Martin completed these transactions:
June \(\quad 1\) Paid the June rent on the office space, \(\$ 750\).
4 Purchased additional office supplies for cash, \(\$ 45\).
11 Paid the salary of the office secretary for two weeks, \(\$ 600\).
15 Tami Martin withdrew \(\$ 3,000\) cash from the business for personal use.
18 Sold a building lot and collected a \(\$ 2,200\) commission.
25 Paid the salary of the office secretary for two weeks, \(\$ 600\).
30 Paid for gas and oil used in the agency car during June, \(\$ 80\).
30 Paid the June telephone bill, \(\$ 65\).
\section*{Required work for June}
1. Prepare and post journal entries to record the transactions.
2. Prepare an unadjusted trial balance on a work sheet form and complete the work sheet using the following information:

a. One month's insurance has expired.

b. An office supplies inventory shows \(\$ 185\) of unused supplies.

c. Estimated depreciation on the automobile, \(\$ 250\).

d. Earned but unpaid secretary's salary, \(\$ 180\).

3. Prepare an income statement and a statement of changes in owner's equity for June and prepare a June 30 classified balance sheet.
4. Journalize and post adjusting and closing entries.
5. Prepare a post-closing trial balance.