Crystal Clear Cleaning has decided that, in addition to providing cleaning services, it...

Crystal Clear Cleaning has decided that, in addition to providing cleaning services, it will sell cleaning products. During May, Crystal Clear Cleaning completed the following transactions:

Requirements

1. Add any needed accounts to CrystaI’s existing chart of accounts.

2. Journalize and post the May transactions. Key all items by date. Compute each account balance, and denote the balance as Bal.

3. Journalize and post the adjusting entries. Denote each adjusting amount as Adj. After posting all adjusting entries, prove the equality of debits and credits in the ledger.

4. Prepare the May multi-step income statement, statement of owner’s equity, and balance sheet for the company.

5. Journalize the May closing entries for the company.