M&T Plumbing Company completed the following transactional data for the first month of operations. May 1: Steven Mattel deposited $68,700 in the business account. In addition, he transferred his vehicle title, worth $13,820, to the business. Steven received capital in return. 1: A Payment was made for the amount of $2,500 to Sky Properties. The concept states "May through July Rent." 4: Purchased business insurance policy for $2,400 for the period May, 2000, through April 30,2001. 5: Steven went to the Plumbing Tools Distributor and purchased S5,600 on account. This invoice for specialize plumbing tools is due in 30 days. 5: Purchase general plumbing supplies for the amount of $450. 6: Purchased on account plumbing tools from PBS Wholesale costing $1,100. The invoice is payable on May 27. 8: Purchase a computer, $900, and a printer, S79. A check was written for the total amount of $979 under the name Best Buy Company. 8: Purchased office supplies for a total of $450. 9: Plumbing repair was performed for Don Smith Company, S2,800 was sign on account. 10: Deposited $1,000 cash from Don Smith Company in the bank. 11: Bought a pick-up truck for $7,500.00 on account. The first payment of $300 is due on June 15. 15: Paid $500 to Adam Prinkle for contract labor. 15: Signed a contract with Xerox Corporation for the amount of $14,280 for plumbing renovations. The starting date of the contract is May 15, 2000 and the ending date is August 30, 2000. Total amount was received at signature. 16: Provided plumbing services for Letty Petrovsky for $390. 16: Provided plumbing services for Letty Petrovsky for $390. 17: Received electric and water bill for the amount of $250. The due date is June 4, 2000 18: Borrowed $26,000 from bank with interest rate of 9% annually. 19: Deposited check from Don Smith Company for $700 paid on account 22: Paid $2,000 to Plumbing Tools Distributor for invoice #301450. 22: Wrote check payable to New York Times for $200 for advertising. 25: Bought an office space for the amount of $28,000 on account. 26: Signed a plumbing contract with VP Cathering for the amount of $2,500. The contract is due in 3 months starting on June 1. Total was received in advance. 30: Mattel withdrew cash of $2,000. Requirements 1. Journalize transactions as required from the activity data 2. Post entries and calculate account balances. 3. Prepare an accounting worksheet. a. Trial balance for May 31, 2000 b. After properly recording and analyzing each transaction, journalize and post the adjustments required in addition to the following transactions. Prepare the adjusted trial balance a. Steven prepared an inventory for general plumbing supplies and found that there was $200 in the cabinet on May 31, 2000. b. Depreciation on specialized plumbing tools for the month, S100. c. Depreciation on computer for the month, $15. d. Depreciation on pick-up truck for the month, $51. e. Used $100 of office supplies. c. Adjusted trial balance for May 31, 2000 d. Show the Income Statement and Balance Sheet on the Worksheet 4. Prepare an income statement, statement of owner's wity and halance sheet using the report format and 5. Prepare closing entries for the month and prepare a post-closing trial balance