Exercise 4-17 Complete accounting cycle (monthly) LO1, 2, 4, 5 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 operaed a wolking tour compony. Very Vancouver. The following are transactions for the month of May 2023 , the first month of operations May 2 Endily soved $5,900 fron her personal bank account to a business bank occount at to jank. She el so invested a Iaptop worth $972 into the business. May 3 Purchased supplies, including a microphone, and brochures for stos cash. May 4 Purchased a printer for $396 on account. May 5 Purchased a one-year insurance policy for $1,560 cash. May 6 Eally withdren $218 for a Nother's Day gift. Hay \& Interviewed and hired one employee to assist with leadint tours: May 10 Ently Iaunched s social medio canpaign of Very Vencouver on Facebook, As a resu1t, she recelved 52,230 of cash for future tour bookings. Myy 15 led three tours of Stanley Park and received 5965 cosh. May 25 Led four tours of Granvlile Island, for $1,215. The custoets on this tour had arepald on flay 10. The following information is known at May 31, 2023 - The loptop has an estimated ife of three years - The printer has on estimoted life of three years. - There are $235 of supplies that are nor used - Aportion of the insurance policy hos expired - Wages of $820 were unpoid and uncecorded. Required 1.n. Prepare journal enties for the May tonsoctions. (if no entry is required for a vensaction/event. select "No joutnsl ertry required" in the first eccount field.) requirea 1-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.) -b. Prepore the adjusting entries. (Do not round intermediate calculations. Round the final enowers to the nearest whole dollar.) 1-c. Prepare the closing entries. (Do not round intermediate colculations. Round the final answers to the nearest whole dollar) Journal entry worksheet (1) 3 Record to dose withdrawals to capital. Noter Enter dehitr before credits. 2. Post the above journal entries to the T-occounts. 3. Prepore 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 Moy 31, 2023. (Do not round intermetiate 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 finol answers to the nearest whole dollar.)
