Instructions Continue Mini Case 1 (the Accounting Cycle Part 1), the following information is available for FastForward in February that may need adjustments." 1. By the end of February, Fast Forward has provided another one month's consulting work to XYZ co. based on their contract on January 15. 2. A physical account indicates that only $50 supplies are still left unused as of February 28. 3. Prepare the necessary adjusting journal entry to record the use of the rented office space in February. 4. Prepare the necessary adjusting journal entry to record the use (i.e., depreciation) of the computers purchased on February 4. FastForward decided to adopt the straight-line method to calculate the depreciation. 5. On February 26, received the February utility bill of $930 from Second Energy Co. and will pay the bill in March. 6. On February 27, earned $4,700 of commissions for referring customers to Stow Inc. The amount has not yet been billed to Stow yet. Requirements: Step 5: Prepare and post the adjusting journal entries. Step 6: Prepare the adjusted trial balance as of 2/28. Step 7: Prepare the Income Statement (ignore income tax), Statement of Retained Earnings. 1 FastForward is an example company used in your textbook, mini cases 1 and 2 as well as the class lecture. Different from the textbook, our mini cases 1 and 2 and class lecture choose only several transactions about this company and provide the information in a more coherent way, in order to help you understand the accounting process holistically. So, please use the FastForward example in the mini cases and class lecture separately from that in the textbook, as the details are not exactly the same. and the Balance Sheet for FastForward for February. Step 8: Close temporary accounts. Step 9: Prepare the post-closing trial balance as of 2/28. 1

Instructions Continue Mini Case 1 (the Accounting Cycle Part 1), the following information is available for Fastorward in February that may need adjustments.' 1. By the end of February, FastForward has provided another one month's consulting work to XYZ co, based on their contract on January 15. 2. A physical account indicates that only $50 supplies are still left unused as of February 28. 3. Prepare the necessary adjusting journal entry to record the use of the rented office space in February. 4. Prepare the necessary adjusting journal entry to record the use (i.e., depreciation) of the computers purchased on February 4. FastForward decided to adopt the straight-line method to calculate the depreciation. 5. On February 26, received the February utility bill of $930 from Second Energy Co. and will pay the bill in March. 6. On February 27 , earned $4,700 of commissions for referring customers to 5 tow inc. The amount has not yet been billed to stow yet. Requirements: Step 5: Prepare and post the adjusting journal entries. Step 6: Prepare the adjusted trial balance as of 2/28. Step 7: Prepare the Income Statement (ignore income tax), Statement of Retained Earnings. 1 FastForward is an example company used in your textbook, mini cases 1 and 2 as well as the class lecture. Different from the textbook, our mini cases 1 and 2 and class lecture choose only several transactions about this company and provide the information in a more coherent way, in order to help you understand the accountine process holistically. So, please use the Fastorward cxample in the mini cases and class lecture separately from that in the textbook, as the detalls are not exactly the same. 1 and the Balance Sheet for Fastforward for February. Step 8: Close temporary accounts. Step 9: Prepare the post-closing trial balance as of 2/28. Instructions FastForward is a consulting business that started at the beginning of this year. It has a monthly accounting cycle. Recall that the accounting cycle includes the 9 steps that repeat every month (or every year). Through the illustration in the Reinforcement section of Module 1 Part 1, we learned that FastForward completed its accounting cycle in January with Post-Closing Trial Balance on January 31 (Hint: review the Module 1 Part 1 -Reinforcement-Summary PPT and Illustration Examples to refresh your memory of these numbers). Now it is time for FastForward to continue its accounting cycle in February by repeating the 9 steps. 1