1. prepare a classified, multiple-step income statement for internal use. 2. present a condensed single-step income statement

1. prepare a 2017 classified, multiple-step income statement for Plymouth electronics 2. prepare a single-step income statement

1.a, prepare journal entries for the may transactions b. prepare the adjusting entries c. prepare the closing entries 2. post the above journal entries to the T-accounts 3. prepare a post-closing trial balance 4. prepare an income statement and statement of changes in equity for the month ended may 31,2020 5. prepare a classified balance sheet at may 31,2020

The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2017, the end of its fiscal year: Credit Debit 17,000 266,800 $ 79,400 213,680 66,000 1,220 434,000 Merchandise inventory $ Other assets Liabilities Brenda Davison, capital Brenda Davison, withdrawals Interest income Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space Office supplies expense 7,500 29,000 170,300 53,000 20.000 6,000 30,400 54,000 6,200 2,100 Totals $ 728,300 $ 728,300 IN+ The following amounts appeared on Plymouth Electronics' adjusted trial balance as of December 31, 2017 Credit Debit $ 20,400 496,785 $ 321,370 253,050 67,900 951,000 15,480 6,615 810 Merchandise inventory Other assets Liabilities Celine Plymouth, capital Celine Plymouth, withdrawals Sales Sales discounts Sales returns and allowances Interest income Cost of goods sold Sales salaries expense Office salaries expense Rent expense, selling space Rent expense, office space Store supplies expense Office supplies expense Depreciation expense, store equipment Depreciation expense, office equipment Insurance expense 723,500 80,100 57,400 33,900 3,900 1,710 780 9,810 3,660 4.290 The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2017, the end of its fiscal year. Credit Debit 17,000 266,800 $ 79,400 213,680 66,000 1,220 434,000 Merchandise inventory $ Other assets Liabilities Brenda Davison, capital Brenda Davison, withdrawals Interest income Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space Office supplies expense 7,500 29,000 170,300 53,000 20,000 6,000 30,400 54,000 6.200 2.100 Totals $ 728,300 $ 728,300 The following amounts appeared on Plymouth Electronics' adjusted trial balance as of December 31, 2017 Credit Debit $ 20,400 496,785 $ 321,370 253,050 67,900 951,000 15,480 6,615 810 Merchandise inventory Other assets Liabilities Celine Plymouth, capital Celine Plymouth, withdrawals Sales Sales discounts Sales returns and allowances Interest income Cost of goods sold Sales salaries expense Office salaries expense Rent expense, selling space Rent expense, office space Store supplies expense Office supplies expense Depreciation expense, store equipment Depreciation expense, office equipment Insurance expense 723,500 80,100 57,400 33,900 3.900 1.710 780 9,810 3,660 4,290 Emily Lee grew up in Vancouver and loves to be a tourist in her own city. In order to make money to pay for university, she opened a walking tour company, Very Vancouver. The following are transactions for the month of May 2020, the first month of operations. May 2 Emily moved $5,500 from her personal bank account to a business bank account at TD Bank. She also invested a laptop worth $900 into the business. May 3 Purchased supplies, including a microphone, and brochures for $600 cash. May 4 Purchased a printer for $360 on account. May 5 Purchased a one-year insurance policy for $2,400 cash. May 6 Emily withdrew $200 for a Mother's Day gift. May 8 Interviewed and hired one employee to assist with leading tours. May 10 Emily launched a social media campaign of Very Vancouver on Facebook. As a result, she received $1,920 of cash for future tour bookings. May 15 Led three tours of Stanley Park and received $600 cash. May 25 Led four tours of Granville Island, for $1,000. The customers on this tour had prepaid on May 10. The following information is known at May 31, 2020. The laptop has an estimated life of three years. The printer has an estimated life of three years. There are $200 of supplies that are not used. A portion of the insurance policy has expired. Wages of $500 were unpaid and unrecorded. Note: For insurance, calculate to the day, for depreciation, calculate for the entire month