Tom Smith opend a repair business on may 1 2017, called Smith Repairs. During the first month of opertaions the firm had the following transactions. May 1 invested 20,000 in cash in the business May 2 paid rent for 900 May 5 Purchased office suppiles with cash 300 May 8 Bought equipment for 8,000 on accountant may 12 performed services for 5,000 in Cash may 19 paid electric bill 250 may 20 paid 1200 for a one year insurance policy may 21 paid employees 750 for the month may 30 Smith Withdrew 500 for personal use

Record these transactions of the General Jorunal Post Transactions to the General ledger Compelete the worksheet using the following information for adjustments a.One month of insurance has expired b. After a count of supplies it was determited that only 100 of supplies remained c. Wages earned but unpaid amounted to 200 d. Depercation on the equipment was 50 4.Prepare income stament 5. Prepare a stament of Owners equity 6. Prepare A Balance Sheet 7. Jornalize and post adjusting entries 8. Jornalize and post closing entries 9. Preapare a Post closing trial balance