adjustments). The Business Linda Berrigan operates a real estate agency that earns money from three sources:...

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adjustments). The Business Linda Berrigan operates a real estate agency that earns money from three sources: commissions on sales of property; property management fees; and investment income. The agency earns management fees from renting and maintaining homes and condominiums for owners who lease their properties to tenants. Berrigan has invested past net income (profits) in stocks and bonds. Interest and dividends received on these investments are recorded in the Investment Income account. The Task You have been hired as the accountant for Berrigan Enterprises. The company has not had an accountant for a month. You are given the transactions for May and asked to bring the records up to date. Suggested Procedure 1. Set up a general ledger with the appropriate accounts and balances. 2. Journalize and post the May entries. 3. Prepare a trial balance and a work sheet. 4. Prepare an income statement, a statement of owner's equity, and a classified balance sheet. Materials Required May financial information Forms for the journal, the ledger, the work sheet, and the financial adjustments). The Business Linda Berrigan operates a real estate agency that earns money from three sources: commissions on sales of property; property management fees; and investment income. The agency earns management fees from renting and maintaining homes and condominiums for owners who lease their properties to tenants. Berrigan has invested past net income (profits) in stocks and bonds. Interest and dividends received on these investments are recorded in the Investment Income account. The Task You have been hired as the accountant for Berrigan Enterprises. The company has not had an accountant for a month. You are given the transactions for May and asked to bring the records up to date. Suggested Procedure 1. Set up a general ledger with the appropriate accounts and balances. 2. Journalize and post the May entries. 3. Prepare a trial balance and a work sheet. 4. Prepare an income statement, a statement of owner's equity, and a classified balance sheet. Materials Required May financial information Forms for the journal, the ledger, the work sheet, and the financial