February Adjusting Entries 28-thg 2 The estimated depreciation on building and equipment is $770. 28-thg 2 One month of rent has expired, $850. 28-thg 2 The annual interest rate is 4% on all notes and paid quarterly. Round to the nearest dollar. 28-thg 2 The supplies remaining at the end of the month was $840. 28-thg 2 Accrued wages and salaries worked in February that will be paid 3-4, $1,940. 28-thg 2 The estimated income taxes for the month is $505. March Transactions 1-thg 3 Performed car repair services and received cash at the time of sale, $4,510. 4-thg 3 Paid wages and salaries for $2,230, part of which was accrued in February. 10-thg 3 Issued stock to new investors, $12,500. 15-thg 3 Made the interest payment on all notes, all is accrued in interest payable. 15-thg 3 Paid annual income taxes that was accrued in income taxes payable. 20-thg 3 Made a monthly payment on the equipment note, $65. 22-thg 3 Paid cash for advertising, $145. 27-thg 3 Performed car repair services on account, $4,075. 30-thg 3 Paid dividends to owners, $380. March Adjusting Entries 31-thg 3 The estimated depreciation on building and equipment is $770. 31-thg 3 One month of rent has expired, $850. 31-thg 3 The annual interest rate is 4% on all notes and paid quarterly. Round to the nearest dollar. 31-thg 3 Accrued wages and salaries worked in March that will be paid 4-4, $1,705. 31-thg 3 The estimated income taxes for the month is $725.

• Record February and March transactions in the General Journal and post to the General Ledger.
• Record adjusting entries for February and March in the General Journal and post to the General Ledger.
• Prepare the adjusted trial balance as of February 28 and March 31.
• Prepare the following February and March financial statements:
  • a) Income Statement for month ended February 28 and March 31
  • b) Statement of Stockholders Equity for month ended February 28 and March 31
  • c) Balance Sheet as of February 28 and March 31
  • d) Statement of Cash Flows for month ended February 28 and March 31
• Record February and March closing transactions in the General Journal and post to the General Ledger.
• Prepare a post-closing trial balance as of February 28 and March 31.