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HP.com is an American multinational information technology company. In this assignment, you are going to complete the entire accounting cycle for the last month of the physical year ending May 31, 2015:
The company uses the following accounts:
Cash Capital Stock
Accounts Receivable
Inventory Retained Earnings
Prepaid Rent Dividends
Unexpired Insurance Income Summary
Office Supplies Sales
Rental Equipment Salaries Expense
Accumulated Depreciation: Computer Equipment Repair Expense
Cable Expense
Notes Payable Utilities Expense
Accounts Payable Rent Expense
Interest Payable Office Supplies Expense
Salaries Payable Depreciation Expense
Dividends Payable Interest Expense
Unearned Sales
The company performs adjusting entries monthly. Closing entries are performed annually on May 31.
During May, the corporation entered into the following transactions:
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