as Tine won a concession to rent out bicycles in the Burnham Park during summer. During he month of May 2022, Jus Tine completed the following transactions for her bicycle ental business: 2 Began business by placing P120,000 in a business checking account. 3 Purchased supplies on account for P1,500. 4 Purchased ten bicycles for P25,000, paying P12,000 down and agreed to pay the balance in thirty days. 5 Paid P29,000 in cash for a furnished container to store the bicycles and use for other operations. 6 Received P4,700 in cash for rentals during the first week of operation. 8 Paid P4,000 in cash for shipping and installation costs to place the container at the park entrance. 9 Hired a part-time assistant to help on weekends. 10 Paid a maintenance person P750 to clean the grounds. 13 Received P5,000 in cash for rentals during the second week of operation. 16 Paid the assistant P480 for a weekend's work. 17 Paid for the supplies purchased on May 3. 18 Paid a P550 repair bill on bicycles. 20 Received P5,500 in cash for rentals during the third week of operation. 22 Paid the assistant P480 for a weekend's work. 23 Billed an entity P1,100 for bicycle rentals for employees' outing. 25 Paid the P3,000 fee for May to the Park Administration for the right to the bicycle concession. 27 Received P4,100 in cash for rentals during the week. 29 Paid the assistant P480 for a weekend's work. 30 Transferred P5,000 to personal checking account. Jas Tine Bike Concession Chart of Accounts \begin{tabular}{ll} ASSETS & \\ \hline 101 & Cash \\ 102A & Accounts Receivable \\ 102B & Allowance for Doubtful Account \\ 103 & Accrued Interest Income \\ 104 & Supplies \\ 105A & Container \\ 105B & Accumulated Depreciation - Container \\ 106A & Bicycles \\ 106B & Accumulated Depreciation - Bicycles \end{tabular} LIABILITIES \begin{tabular}{ll} \hline 201 & Accounts Payable \\ 202 & Accrued Wages Expense \\ 203 & Notes Payable \end{tabular} OWNER'S EQUITY \begin{tabular}{ll} \hline 301 & Tine, Capital \\ 302 & Tine, Drawings \\ 303 & Profit or Loss Summary \end{tabular} REVENUE \begin{tabular}{ll} \hline 401 & Rental Revenues \\ 402 & Interest Income \end{tabular} EXPENSES \begin{tabular}{ll} \hline 501 & Wages Expenses \\ 502 & Maintenance Expense \\ 503 & Repair Expense \\ 504 & Concession Expense \\ 505 & Doubtful Account Expense \\ 506 & Supplies Expense \\ 507 & Depreciation Expense - Container \\ 508 & Depreciation Expense - Bicycles \end{tabular} As the accountant of Jas Tine Bike Concessions, do the following for May 2022: 1. Journalize the transactions in a journal. 2. Post the journal entries in a ledger. 3. Prepare the initial, unadjusted trial balance. 4. Create a summary of adjusting entries. 5. Prepare the company's ten column worksheet. 6. Prepare the adjusted trial balance. 7. Prepare the company's Statement of Profit or Loss. 8. Prepare the company's Statement of Changes in Equity. 9. Prepare the company's Statement of Financial Position. 10. Journalize and post all adjusting entries and check if the ledger corresponds to the adjusted trial balance columns of the worksheet. 11. Journalize and post all closing entries. 12. Prepare a post-closing trial balance. 13. Journalize reversing entries for June 1, 2022. General Journal 203 Notes Payable Statement of Profit or Loss Statement of Changes in Equity Statement of Financial Position General Journal - Closing Entries Post-Closing Trial Balance General Journal - Reversing Entries