February Transactions
01-Feb	Paid six months of rent in advance, $6,600.
04-Feb	Paid wages and salaries for $2,415, part of which was accrued in January.
07-Feb	Purchased supplies on account, $950
11-Feb	Performed car repair services on account, $3,950.
17-Feb	Collected cash from credit sales made in January and February, $4,500.
20-Feb	Made a monthly payment on the equipment note, $75.
23-Feb	Performed car repair services and received cash at the time of sale, $6,250.
25-Feb	Accrued for the bonus earned by the shop manager that will be paid in April, $1,200.
February Adjusting Entries
28-Feb	The estimated depreciation on building and equipment is $850.
28-Feb	One month of rent has expired, $1,100.
28-Feb	The annual interest rate is 6% on all notes and paid quarterly. Round to the nearest dollar.
28-Feb	The supplies remaining at the end of the month was $760.
28-Feb	Accrued wages and salaries worked in February that will be paid 3-5, $2,150.
28-Feb	The estimated income taxes for the month is $925.

1. Record February transactions in the General Journal and Post to the General Ledger.

Record February adjusting entries in the General Journal and Post to the General Ledger.

Prepare the adjusted trial balance as of Feb 28

Prepare the February Income Statements.

Prepare the February Statements of Stockholders Equity.

Prepare the Balance Sheet as of February 28

A Thunderduck Car Repair Adjusted Trial Balance As of Jan 31, 2XX1 Credit Debit 5,305 4,100 500 $ $ $ $ $ $ Cash Accounts Receivable Supplies Prepaid Rent Building Equipment Accumulated Depeciation Accounts Payable Utilities Payable Wages and Salaries Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Wages and Salaries Expense Rent Expense Supplies Expense Depreciaion Expense Interest Expense Income tax Expense Totals 80,000 130,000 $ 43,150 $ 5,740 $ $ 1,750 $ 8,230 $ 170 $ 34,000 $ 94,000 $ 30,035 650 $ 9,350 2,600 1,100 425 850 170 725 226,425 $ 226,425 $ $ $ $ $ $ $ $ A Thunderduck Car Repair Adjusted Trial Balance As of Jan 31, 2XX1 Credit Debit 5,305 4,100 500 $ $ $ $ $ $ Cash Accounts Receivable Supplies Prepaid Rent Building Equipment Accumulated Depeciation Accounts Payable Utilities Payable Wages and Salaries Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Wages and Salaries Expense Rent Expense Supplies Expense Depreciaion Expense Interest Expense Income tax Expense Totals 80,000 130,000 $ 43,150 $ 5,740 $ $ 1,750 $ 8,230 $ 170 $ 34,000 $ 94,000 $ 30,035 650 $ 9,350 2,600 1,100 425 850 170 725 226,425 $ 226,425 $ $ $ $ $ $ $ $