journalize adjusting entries

prepare a ledger

prepare adjusted trial balance

prepare income statement

prepare retained earnings statement

prepare balance sheet

Trial Balance May 31, 2022 In addition to those accounts listed on the trial balance, the chart of accounts for Monty Corp. also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2022. 2. A count of supplies shows $975 of unused supplies on May 31 . 3. Annual depreciation is $3,900 on the buildings and $1,800 on equipment. 4. The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries and wages of $885 are unpaid and unrecorded at May 31. Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.) No. 141 Buildings Monty Corp. Income Statement For the Month Ended May 31, 2022 Prepare a retained earnings statement for the month of May 31. Monty Corp. Balance Sheet May 31, 2022 Assets $ $ Liabilities and Stockholders' Equity