The financial statement of London Tour Company

1. Identify 3 main users of the financial statement of London Tour Company, and the GAAP most appropriate for each user. Based on the users/GAAP identifies, make an overall recommendation to Ander regarding the continued use of ASPE 2. Use the information in the case to prepare general journal entries for the transaction that occurred in May of 2020. 3. Use the information in the case to prepare necessary adjusting journal entries (including income tax expense) at May 31, 2020. 4. Post the entries from questions 2 and 3 to the T-accounts provided and calculate the ending balance in each account. 5. Based on your ending balances, prepare necessary closing journal entries at May 31, 2020 6. Prepare an adjusted trial balance (pre-closing) at May 31, 2020 7. Prepare the income statement for the month of May 2020 8. Prepare the statement of retained earnings for the month of May 2020 9. Prepare a classified balance sheet at May 31, 2020