Question #2 - Please prepare the following:

Journal Entries

T Accounts

Adjusted Trial Balance

Income Statement

Owners Equity Statement

Balance Sheet

Statement of Cash Flow

On May 2, 2019, Patrick Rodriguez invested $75,000 to start a business called Bahamian

Flair in Atlantis Resort and Casino

May 4He got a loan to purchase furniture and fixture $51,000 w/ monthly interest of $72

May 4 - He purchase a computer with POS and Microsoft Office installed for $1,570.

May 5 Inventory of $43,000 was purchased. The transportation cost was $330 and

Customs Duty (inclusive of VAT) was $3,112.

May 7- Content insurance for 2019 was obtained for $1,842

May 9- Sold some gift items to Denise St. Louis on account for 10,865

May 10 Sold some gift items for cash to Petrona Evans for $6,672

May 13 Bahamar Gift Store pre-ordered and paid for gift items the company must order

for $5,430

May 16 - Received partial payment from Denise St. Louis of $5,600

May 17 - Purchased a company car from Katherine Jones for $3,200.

May 22 - Sent the company car for repairs and it cost $1,360

May 25 Delivered the items ordered on May 13 Bahamar Gift Store

May 30 Paid the following utilities: Light $320, Telephone $295 and Cable/Internet $152

May 31 Paid staff for month of November $950

At month end, the inventory remaining was $42,200

The furniture has a salvage value $700 and a useful life of 8 years. He uses straight

line depreciation.

The computer has $75 salvage value and a useful life of 4 years. He uses straight line

depreciation.