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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,

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 2023, the first month of operations. May 1Emily moved $6,550 from her personal bank account to a business bank account at TD Bank. She also invested a laptop worth $720 into the business.May 1Purchased a one-year insurance policy for $1,200 cash.May 3Purchased supplies, including a microphone, and brochures for $615 cash.May 4Purchased a printer for $180 on account.May 6Emily withdrew $205 for a Mothers Day gift.May 8Interviewed and hired one employee to assist with leading tours.May 10Emily launched a social media campaign of Very Vancouver on Facebook. As a result, she received $1,950 of cash for future tour bookings.May 15Led three tours of Stanley Park and received $1,080 cash.May 25Led four tours of Granville Island, for $1,240. The customers on this tour had prepaid on May 10.The following information is known at May 31,2023.The laptop has an estimated life of three years.The printer has an estimated life of three years.There are $205 of supplies that are not used.A portion of the insurance policy has expired.Wages of $680 were unpaid and unrecorded.Required1-a. Prepare journal entries for the May transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)1-b. Prepare the adjusting entries. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)1-c. Prepare the closing entries. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)2. Post the above journal entries to the T-accounts.3. Prepare a post-closing trial balance. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)4. Prepare an income statement and statement of changes in equity for the month ended May 31,2023.(Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)5. Prepare a classified balance sheet at May 31,2023.(Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)

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