Based on this,

1. Use worksheet to complete the adjusting and closing process.
2. Prepare adjusting journal entries using the following information. Adjusting entries should be recorded in your general journal and then posted to your general ledger.
   1. One month of prepaid rent has expired.
   2. Record appropriate insurance expense for the period ending May 31.
   3. Depreciation expense for the two months ending May 31 totaled $2,420 - Building $1,620, Computer Equipment $100, Kayaks $600, Paddle Boards $100.
   4. Katie worked 16 hours on May 30 and 31 for which she has not been pai
   5. A physical count show $165 of office supplies on hand at May 31.

3. Post adjusting journal entries to the worksheet you began in Part 1.
4. Using the worksheet, prepare adjusted trial balance. Note: net income should equal $13,395.
5. Prepare closing entries in your general journal (should follow your adjusting journal entries) and then post to the general ledger.

1. Post your closing entries to the worksheet.
2. Using the worksheet, prepare post-closing trial balance. Note: The balances on your completed worksheet should agree with your general ledger balances after completing the closing process.

30/4/19 2400 CASH TO ACCOUNTS RECEIVABLE (SCHOOL) 2400 30/4/19 2100 ACCOUNTS RECEIVABLE (BROCK) TO RENTAL REVENUE 2100 30/4/19 1050 WAGES TO CASH 1050 250000 80000 1/5/2019 LAND BUILDING TO COMMON STOCK TO PAID IN CAPITAL IN EXCESS OF PAR 40000 290000 4800 1/5/2019 PREPAID RENT TO CASH 4800 7700 2/5/2019 KAYAK TO NOTE PAYABLE (KAYAK) 7700 250 2/5/2019 ELECTRICITY EXP TO ELECTRICITY EXP PAYABLE 250 260 4/5/2019 OFFICE SUPPLIES TO ACCOUNTS PAYABLE (OFFICE SUPPLIES) 260 1800 4/5/2019 ACCOUNTS RECEIVABLE (SCHOOL) TO RENTAL REVEENUE 1800 1900 5/5/2019 CASH TO RENTAL REVENUE 1900 3600 7/5/2019 PADDLE BOARDS TO ACCOUNT PAYABLE (PADDLE BOARDS) 3600 2100 8/5/2019 CASH ACCOUNT RECEIVABLRE (BROCK) 2100 3750 8/5/2019 CASH TO RENTAL REVENUE 3750 8/5/2019 INSURANCE EXP PREPAID INSURANCE TO CASH 400 4400 4800 9/5/2019 CASH TO RENTAL REVENUE 850 850 1500 11/5/2019 CASH TO UNEARNED REVENUE (BOTANICAL GARDEN) 1500 120 11/5/2019 CONNECTION FEE PAYABLE TO CASH 120 15/5/19 1200 WAGES EXP TO CASH 1200 16/5/19 5000 ACCOUNTS PAYABLE (KAYAKS) TO CASH 5000 18/5/19 600 ACCOUNTS PAYABLE (OFFICE SUPPLIES) TO CASH 600 20/5/19 300 ADVERTISEMENT EXP TO CASH 300 21/5/19 2700 ACCOUNTS RECEIVABLE (CUSTOMERS) TO RENTAL REVENUE 2700 22/5/19 980 CASH TO TOUR REVENUE 980 26/5/19 180 TELEPHONE EXP TO CASH 180 28/5/19 3600 ACCOUNT PAYABLE (PADDLE BOARDS) TO CASH 3600 28/5/19 6800 CASH TO RENTAL REVENUE 6800 29/5/19 1100 NOTE PAYABLE (KAYAK) TO CASH 1100 31/5/19 1380 WAGES EXP TO CASH 1380 TRIAL BALANCE OF APRIL'2019 TO MAY'2019 DEBIT CREDIT 23640 4500 4400 4800 250000 80000 2800 13700 3600 ACCOUNTS ASSETS CASH BALANCE ACCOUNTS RECEIVABLE PREPAID INSURANCE PREPAID RENT OFFICE SUPPLIES LAND BUILDING ACCUMULATED DEPRECIATION-BUILDING COMPUTER EQUIPMENT ACCUMULATED DEPRECIATION-COMPUTER EQUIPMENT KAYAK (EQUIPMENT) ACCUMULATED DEPRECIATION - KAYAKS PADDLE BOARDS ACCUMULATED DEPRECIATION - PADDLE BOARDS LIABILITIES ACCOUNTS PAYABLE UTILITY EXP PAYABLE NOTE PAYABLE UNEARNED REVENUE EQUITY COMMON STOCK PAID IN CAPITAL IN EXCESS OF PAR RETAINED EARNINGS REVENUE RENTAL REVENUE EXPENSES ADVERTISING EXPENSE DEPRECIATION EXPENSE INSURANCE EXPENSE RENT EXP SUPPLIES EXP UTILITIES EXP TELEPHONE EXP WAGES EXP 250 6600 1500 72000 290000 25430 600 400 1200 600 370 340 4830 395780 395780