Please assist with the attached. I have done it but just wants to be sure it is correct.

The problem to be resolved: Trelawney Technology a merchandiser for an exquisite brand of fine wines provided the following trail balance as of May 30th 2015: DR Cash Accounts receivable Merchandise Inventory Supplies Prepaid insurance Building Accumulated depreciation-building Furniture and fixtures Accumulated depreciation-furniture& fix. Accounts payable Note payable-long term James Lowe, Capital James Lowe, withdrawals Sales revenue Cost of goods sold Salary expense Telephone expense Utilities expense Interest expense CR 1,500,000 650,000 225,000 120,000 75,000 8,000,000 1,200,000 2,200,000 330,000 290,000 121,100 10,000,000 1,200,000 6,200,900 2,800,000 910,000 90,000 330,000 42,000 18,142,000 ____ 18,142,000 The following additional information is available at May 30th, 2015: (i) (ii) Supplies on hand at May 30th, 2015 amounted to $65,400. Insurance of $75,000 was paid on April 1 st, 2015 for three (3) months to June 30 th, (iii) 2015. The Building was purchased on February 1 st, 2015 and is being depreciated over ten (10) years on the double - declining method of deprecation down to a residue of (iv) $90,000. (Round off answer to the nearest dollar) The furniture and fixture have an estimated useful life of six (6) years and are being (v) (vi) (vii) depreciated on the straight-line method down to a residue of $10,000. Salaries earned by employees not yet paid amounted to $135,000 at May 30th, 2015 Accrued interest expense due on the notes payable at May 30th amounted to $18,500 A physical count of inventory at May 30th, 2015, reveals $125,000 worth of inventory (viii) on hand. The ageing of the accounts receivable indicated that the estimated allowance for uncollectible accounts is $65,000. ACCT1002 - Introduction to Financial Accounting Assignment # 2 Page | 1 Requirements: 1. 2. 3. 4. Prepare the necessary adjusting journal entries on May 30th, 2015 Prepare the multi-step income statement for the year ended May 30th, 2015 Prepare the owner's equity statement for the year ended May 30th, 2015 Prepare the balance sheet for the year ended May 30th, 2015 ACCT1002 - Introduction to Financial Accounting Assignment # 2 Page | 2