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 Laily moved $10,150 froe her personal bank account to a busisess bank account at. TD Bank. She also Invested a laptop warth 11, 044. into the business. May 3. Purchased supplies, Including a elcrophone, and birechures for $735 cash. May 4 Purchased a printer for $468 on account. May 5 . Purchased a one-year insurance policy for 51,68e eash. Hiw 6 inily withdres $261 for a Mother"s. Day gift. Roy i intervified and hired one enployee to asstst with leadine tours. May to Fally lawnibed a social aedla caspalgn of Very Vancouver on facebook. As a result, she recelved 32,320 of cash for future towr booklings. May 15: Led ehree tours of 5tanley Park and recelved 51 , 00a cash. May 25 Led four tours of Granville island, for $1,180, the custoners on this tour had-prepald on May 16. The following information is known at May 31,2020 . - The laptop has an estimated ife of three years. - The printer has an estimated life of three years. - There are $245 of supplies that are not used. - A portion of the insurance policy has expired. - Wages of $890 were unpaid and unrecorded. Note: For insurance, calculate to the day, for depreciation, calcuiate for the entire month. Required 1-A. Prepare journal entses for the May transactions: (if no entry is required for a transactlonievent, telect "No Joutnal entry? requlred" in the first account field, Note: For insurance, calculate to the day, for depreciation, calculate for the entire month. Required 1-a. Prepare journal entries for the May transactions. (If no entry is required for a transaction/event, select "No journol entry required" in the first account field.) b. Prepare the adjusting entries. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) Journal entry worksheet: 4 Whinet Enter debxt belore orritiet. 2. Post the above journal entries to the T-accounts. A 3. Prepare a post-closing trial balance. (Do not round intermediate calculotions. Round the final answers to the nearest whole dollor.) 3. Prepare a post-closing trial balance (Do not round intermediate calculations. Round the final onswers to the nearest whole dollar) 4. Prepare an income statement and statement of changes in equity for the month ended May 31, 2020. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) 5. Prepare a classified balance sheet at May 31, 2020. (Do not round intermediate calculations. Round the final answers to the nearest whole doliar] 40 points
