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Please scroll to the bottom for G3! Karen Noonan opened Marin Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed:

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Karen Noonan opened Marin Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 Issued 5,100 shares of Marin Cleaning Services common stock for $13,260. Each share has a $1.50 par. 1 Borrowed $8,160 on a 2 -year, 6% note payable. 1 Paid $9,200 to purchase used floor and window cleaning equipment from a company going out of business ($4,920 was for the floor equipment and $4,280 for the window equipment). 1 Paid $220 for February Internet and phone services. 3 Purchased cleaning supplies for $1,000 on account. 4 Hired 4 employees. Each will be paid $490 per 5 -day work week (Monday- Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $10,040 per year. Coverage runs from February 1, 2022. through January 31,2023 . Karen paid $2,510 cash for the first quarter of coverage. 5 Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Karen sold the window cleaning equipment for $4,030 cash. 16 Billed customers $3,980 for cleaning services performed through February 13, 2022. 17 Received $540 from a customer for 4 weeks of cleaning services to begin February 21, 2022. (By paying in advance, this customer received 10% off the normal weekly fee of $150.) 18 Paid $310 on amount owed on cleaning supplies. 20 Paid $3 per share to buy 310 shares of Marin Cleaning Services common stock from a shareholder who disagreed with management goals. The shares will be held as treasury shares. 23 Billed customers $4,390 for cleaning services performed through February 20. 24 Paid cash for employees' wages for 2 weeks (February 9-13 and 16-20). 25 Collected $2,550 cash from customers billed on February 16. 27 Paid $220 for Internet and phone services for March. 28 Declared and paid a cash dividend of $0.30 per share. A) Journalize the February transactions. B) Post to the ledger accounts. (Post entries in the order of journal entries presented above) C) Prepare a trial balance at February 28, 2022. D) Journalize the following adjustments. Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to O decimal places, eg. 1,527.) 1. Services performed for customers through February 27,2022 , but unbilled and uncollected were $3,880. 2. Received notice that a customer who was billed $200 for services performed February 10 has filed for bankruptcy. Marin Cleaning Services does not expect to collect any portion of this outstanding receivable. 3. Marin Cleaning Services uses the allowance method to estimate bad debts. Marin Cleaning Services estimates that 3% of its month-end receivables will not be collected. 4. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $510 salvage value. 5. Record 1 month of insurance expense. 6. An inventory count shows $410 of supplies on hand at February 28. 7. One week of services were performed for the customer who paid in advance on February 17. 8. Accrue for wages owed through February 28, 2022. 9. Accrue for interest expense for 1 month. 10. Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before taxes" to help with the income tax calculation.) E) Post adjusting entries to the T-accounts. (Post entries in the order of journal entries presented above) F) Prepare an adjusted trial balance. G) Prepare a multiple-step income statement as of February 28, 2022. MARIN CLEANING SERVICES INC. Income Statement $ Prepare a retained earnings statement as of February 28, 2022. (List items that increase retained earnings first.) G3) Prepare a properly classified balance sheet as of February 28, 2022. (List CURRENT ASSETS in order of liquidity.)

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