Record February transactions in the General Journal and post to the General Ledger Record adjusting entries for February in the General Journal and post to the General Ledger Prepare the adjusted trial balance as of February 28 Prepare the following February financial statements a) Income Statement for month ended February 28 b) Statement of Stockholders Equity for month ended February 28 c) Balance Sheet as of February 28 d) Statement of Cash Flows for month ended February 28 Record February closing transactions in the General Journal and post to the General Ledger Prepare a post closing trial balance as of February 28 February Transactions 1 Feb Paid six months of rent in advance, $5,700 4 Feb Paid wages and salaries for $2,330, part of which was accrued in January 7 Feb Purchased supplies on account, $920 11 Feb Performed car repair services on account, $3,910 17 Feb Collected cash from credit sales made in January and February, $4,300 20 Feb Made a monthly payment on the equipment note, $90 23 Feb Performed car repair services and received cash at the time of sale, $5,910 25 Feb Accrued for the bonus earned by the shop manager that will be paid in April, $1,300 February Adjusting Entries 28 Feb The estimated depreciation on building and equipment is $920 28 Feb One month of rent has expired, $950 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 $770 28 Feb Accrued wages and salaries worked in February that will be paid 3 5, $2,090 28 Feb The estimated income taxes for the month is $915 Cash Accounts receivable Supplies Prepaid rent Building Equipment Accumlated depreciation Thunderduck Car Repair Post Closing Trial Balance December 31, 2XX1 Accounts payable Utilities payable Salaries and wages payable income tax payable Notes payable Common stock Retained Earnings Total Debit 5,350 2,970 910 950 81,000 122,000 213,180 Credit 41,085 6,595 820 2,740 7,845 35,400 90,000 28,695 213,180

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Record February transactions in the General Journal and post to the General Ledger. Record adjusting entries for February in the General Journal and post

Record February transactions in the General Journal and post to the General Ledger.

• Record adjusting entries for February in the General Journal and post to the General Ledger.

• Prepare the adjusted trial balance as of February 28

Cash Accounts receivable Supplies Prepaid rent Building Equipment Accumlated depreciation Thunderduck Car

• Prepare the following February financial statements:

a) Income Statement for month ended February 28

b) Statement of Stockholders Equity for month ended February 28

c) Balance Sheet as of February 28

d) Statement of Cash Flows for month ended February 28

• Record February closing transactions in the General Journal and post to the General Ledger.

• Prepare a post-closing trial balance as of February 28


February Transactions
1-Feb	Paid six months of rent in advance, $5,700.
4-Feb	Paid wages and salaries for $2,330, part of which was accrued in January.
7-Feb	Purchased supplies on account, $920
11-Feb	Performed car repair services on account, $3,910.
17-Feb	Collected cash from credit sales made in January and February, $4,300.
20-Feb	Made a monthly payment on the equipment note, $90.
23-Feb	Performed car repair services and received cash at the time of sale, $5,910.
25-Feb	Accrued for the bonus earned by the shop manager that will be paid in April, $1,300.

February Adjusting Entries
28-Feb	The estimated depreciation on building and equipment is $920.
28-Feb	One month of rent has expired, $950.
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 $770.
28-Feb	Accrued wages and salaries worked in February that will be paid 3-5, $2,090.
28-Feb	The estimated income taxes for the month is $915.

Cash Accounts receivable Supplies Prepaid rent Building Equipment Accumlated depreciation Thunderduck Car Repair Post-Closing Trial Balance December 31, 2XX1 Accounts payable Utilities payable Salaries and wages payable income tax payable Notes payable Common stock Retained Earnings Total Debit 5,350 2,970 910 950 81,000 122,000 213,180 Credit 41,085 6,595 820 2,740 7,845 35,400 90,000 28,695 213,180

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General Journal February Transactions Date Account Title Debit Credit Feb 1 Prepaid Rent 5700 Feb 1 Cash 5700 Feb 4 Salaries and Wages Expense 2330 Feb 4 Salaries and Wages Payable 2330 Feb 7 Supplies ... blur-text-image