Instructions 1. Prepare journal entries to record each of the events listed. Provide relevant descriptions for each journal entry in good form; skip a line between entries. 2. Post Journal Entries to the General Ledger 3. Prepare a trial balance as of May 31, 2017. Home Services was formed on May 1, 2017. The following transactions took place during the first month. 1. May 1 - Stockholders invested $60,000 cash in exchange for common stock. 2. May 1 - Signed a 2 -year rental agreement on a warehouse; paid $36,000 cash in advance for the first year. 3. May 1 - Purchased equipment costing $35,000. A cash payment of $12,000 was made immediately; the remainder will be paid in 60 days. 4. May 1 - Paid $1,500 cash for a one-year insurance policy on the equipment. 5. May 2 - Purchased basic office supplies for $400 cash. 6. May 3 - Purchased office supplies from Office Depot for $1,600 on account. 7. May 10 - Received $12,000 cash for services performed for a new customer. 8. May 13 - Paid $600 to Office Depot for supplies purchased on account on May 3. 9. May 18$16,000 of services were performed for B. Jones on account. 10. May 31 - Received May utility bill in the amount of $400, to be paid next month. 11. May 31 - Paid the monthly salaries of the two employees, totalling $7,600. 12. May 31 - Received $6,000 from B. Jones on account. General Journal Nn 112 No. 120 1.3h Nn 157 Nn 1 Nn 311 No. 400 No. 726 No. 729 No 730 Part 1 - Page 6 of 6 Using the data below, complete the partial worksheet for the month. a. Depreciation expense is $100. b. Supplies remaining at end of period $1,000. c. Prepaid insurance expired during the month is $200. d. Wages expense incurred but not yet paid is 5300 . Salazar Co. was organized on April 1, 2022. The company prepares quarterly financial statements. The adjusted trial balance at June 30 is shown below. Salazar Co. Adfusted Trial Balance June 30,2022 a) Prepare an income statement for the quarter ended June 30,2022. b) Prepare a statement of retained earnings for the quarter ended June 30,2022. c) Prepare a classified balance sheet as of June 30, 2022. The note payable is due on July 31,2022 . XYZ Company ended its fiscal year on July 31,2022. The company's adjusted trial balance as of the end of its fiscal year is shown below. XYZ Company Adjusted Trial Balance July 31,2022 Instructions Write the four closing entries. You may omit explanations. Closing Entries Ethics Assessment (CLO 43 for Busad 201, 202, 310, and 320) After numerous campus interviews, Jeff Hunter, a senior at Great Northem College, received two office interview invitations from the Baltimore offices of two large firms. Both firms offered to cover his out-of-pocket expenses (travel, hotel, and meals). He scheduled the interviews for both firms on the same day, one in the morning and one in the afternoon. At the conclusion of each interview, he submitted to both firms his total out-of-pocket expenses for the trip to Baltimore: mileage $112 (280 miles at $0.40), hotel $130, meals $36, parking and tolls $18, for a total of $296. He believes this approach is appropriate. If he had made two trips, his cost would have been two times $296. He is also certain that neither firm knew he had visited the other on that same trip. Within 10 days, Jeff received two checks in the mail, each in the amount of $296. Given the foregoing ethical issue, please respond to the following: 1. Identify the ethical issue(s) noted in the reading above. 2. Who are the stakeholders in this situation? 3. What altemative courses of action could Jeff Hunter take? List some alternative courses of action and briefly describe how each one will affect the stakeholders that you identified in question #2 (above). 4. Which course of action would you choose and why