trying to do the accounts for february

February 25, 2014 Performed design work for a cash fee, $3,800 Paid the rent for March and April in advance, $1,600. February 26, 2014 February 27, 2014 Received and paid the utility bill for February, $265 February 28, 2014 Received the telephone bill for February, which will be paid next month, S195 February 28, 2014 The corporation declared a cash dividend of S.05 a share, to be paid in March. ADJUSTING ENTRY INFORMATION FOR FEBRUARY 1. One month's prepaid rent has expired. 2. One month's prepaid insurance has expired. 3. An inventory of graphic supplies reveals $750 still on hand on February 28. 4. An inventory of office supplies reveals S1.200 used during February 5. Depreciation on graphic equipment for February is $200 and depreciation on the office equipment for February is $250. 6. Graphic design work for Williams' Art Company totaling $4,200 was completed on February 28. Payment was received in advance. 7. Anna completed the other half of the design work for Sam Jones. 8. Two weeks of wages have accrued at February 28, 2014. Anna will pay the receptionist March 3, 2014. on Graphic Design, Inc. February Transactions Received an additional investment of cash from Anna, $5,000, in exchange for 5000 shares of SL00 par value common stock. February 3, 2014 Paid the receptionist for the last two weeks of January. Review January 31 adjusting journal entry. February 3, 2014 Purchased additional office equipment with cash, S1,560. February 4, 2014 Received graphic equipment transferred to the business from Anna, S2,800. Anna was given 2800 shares of S1.00 par value February 6, 2014 common stock. February 7, 2014 Purchased additional office supplies with cash, $1,800 February 10, 2014 Dividend previously declared to Anna, the sole shareholder, paid. was February 10, 2014 Paid amount due for January's telephone bill received in January Purchased additional graphic supplies on credit from Taylor Supply Company, S1,250. February 12, 2014 February 15, 2014 Paid the total amount due to Morgan Equipment. Paid the receptionist for the first two weeks of February. February 17, 2014 February 18, 2014 Accepted an advance fee in cash for design work to be done for Williams' Art Company, $6,500. February 21, 2014 Purchased a copier (office equipment) from Thompson Equipment for $1,800, paid S500 in cash and agreed to pay the rest in equal payments over the next five months. February 21, 2014 Performed design work and received a cash fee, $2,860. February 24, 2014 Received full payment on account from Ward Department Stores for work performed last month. February 24, 2014 Performed design work for Mathis Department Stores and agreed to accept payment next month, $2,400 Instructions for February: 1. Analyze February's transactions on the transaction document. 2. Journalize February's transactions in the general journal. 3. Post February's journal entries to the general ledger. 4. Prepare a trial balance. 5. Journalize adjusting entries for February in the general journal. 6. Post February's adjusting entries to the general ledger. 7. Prepare an adjusted trial balance. 8. Prepare the financial statements in the proper order (Income Statement, Retained Earnings Statement, Balance Sheet) 9. Journalize the closing entries for February in the general journal. 10. Post February's closing entries in the general ledger. 11. Prepare a post closing trial balance for February February 25, 2014 Performed design work for a cash fee, $3,800 February 26, 2014 Paid the rent for March and April in advance, S1,600. February 27, 2014 Received and paid the utility bill for February, $265 Received the telephone bill for February, which will be paid next month, S195 February 28, 2014 February 28, 2014 The corporation declared a cash dividend of S.05 a share, to be paid in March. ADJUSTING ENTRY INFORMATION FOR FEBRUARY 1. One month's prepaid rent has expired. 2. One month's prepaid insurance has expired. 3. An inventory of graphic supplies reveals $750 still on hand on February 28. 4. An inventory of office supplies reveals $1,200 used during February. 5. Depreciation on graphic equipment for February is $200 and depreciation on the office equipment for February is $250. 6. Graphic design work for Williams' Art Company totaling $4,200 on February 28. Payment was received in advance. completed was 7. Anna completed the other half of the design work for Sam Jones. 8. Two weeks of wages have accrued at February 28, 2014. Anna will pay the receptionist on March 3, 2014. Graphic Design, Inc. January Transactions Anna Chase invested $20,000 in her newly formed corporation in exchange for 20,000 shares of $1 par value common stock January 2, 2014 January 3, 2014 Office space was rented and paid for in advance for January and February, S1,600 January 3, 2014 Graphic equipment was purchased with cash, S 3,600 January 6, 2014 Office equipment costing $5,000 was purchased from Morgan Equipment. Anna paid half now as the down payment and Morgan Equipment agreed to the balance being paid in February January 7, 2014 Graphic supplies costing $2,400 and office supplies costing s1,200 were purchased from Taylor Supply Company on credit. January 10, 2014 A 12 month liability insurance policy was purchased covering the period January 1, 2014 through December 31, 2014, S1,800 January 13, 2014 Anna accepted an advance payment from Sam Jones for graphic design work to be done during the months of January 2014 and February 2014, $12,750 January 13, 2014 Paid Taylor Supply Company in full for the graphic and office supplies purchased last week. January 14, 2014 Anna completed dealer by placing advertisements in the local newspaper and paid $3,600 some graphic design work for an automobile was January 20, 2014 Anna paid her receptionist $1,000 in wages for the period January 6 thru January 17, 2014 (two weeks). The workweek is Monday thru Friday (10 workdays). January 21, 2014 Anna accepted an advance payment of $4,000 to do some graphic design work for Miller's Advertising. January 24, 2014 Anna completed the work requested by Ward Department Stores. She sent a bill to the client for $3,800 January 27, 2014 Anna received and paid the utility bill for January, S160 January 28, 2014 Anna received January's telephone bill but will wait until February to pay it, S135 January 31, 2014 Anna's corporation declared dividends, .10 a share, to be paid in February ADJUSTING ENTRY INFORMATION FOR JANUARY 1. One month's prepaid rent has expired 2. One month's prepaid insurance has expired 3. An inventory of graphic supplies reveals S600 still on hand on January 31 4. An inventory of office supplies reveals $400 used during January 5. Depreciation on graphic equipment for January is S100 and depreciation office equipment for January is $150 on the 6. Graphic design work for Miller's Advertising, totaling $1,600, was January 31. Anna received payment in advance. completed on 7. Anna completed half the work for Sam Jones by the end of January. Anna received payment in advance. 8. Anna owes her receptionist $1,000 in wages for the period January 20 thru January 31 (10 workdays). Anna will pay her receptionist on February 3, 2014. February 25, 2014 Performed design work for a cash fee, $3,800 Paid the rent for March and April in advance, $1,600. February 26, 2014 February 27, 2014 Received and paid the utility bill for February, $265 February 28, 2014 Received the telephone bill for February, which will be paid next month, S195 February 28, 2014 The corporation declared a cash dividend of S.05 a share, to be paid in March. ADJUSTING ENTRY INFORMATION FOR FEBRUARY 1. One month's prepaid rent has expired. 2. One month's prepaid insurance has expired. 3. An inventory of graphic supplies reveals $750 still on hand on February 28. 4. An inventory of office supplies reveals S1.200 used during February 5. Depreciation on graphic equipment for February is $200 and depreciation on the office equipment for February is $250. 6. Graphic design work for Williams' Art Company totaling $4,200 was completed on February 28. Payment was received in advance. 7. Anna completed the other half of the design work for Sam Jones. 8. Two weeks of wages have accrued at February 28, 2014. Anna will pay the receptionist March 3, 2014. on Graphic Design, Inc. February Transactions Received an additional investment of cash from Anna, $5,000, in exchange for 5000 shares of SL00 par value common stock. February 3, 2014 Paid the receptionist for the last two weeks of January. Review January 31 adjusting journal entry. February 3, 2014 Purchased additional office equipment with cash, S1,560. February 4, 2014 Received graphic equipment transferred to the business from Anna, S2,800. Anna was given 2800 shares of S1.00 par value February 6, 2014 common stock. February 7, 2014 Purchased additional office supplies with cash, $1,800 February 10, 2014 Dividend previously declared to Anna, the sole shareholder, paid. was February 10, 2014 Paid amount due for January's telephone bill received in January Purchased additional graphic supplies on credit from Taylor Supply Company, S1,250. February 12, 2014 February 15, 2014 Paid the total amount due to Morgan Equipment. Paid the receptionist for the first two weeks of February. February 17, 2014 February 18, 2014 Accepted an advance fee in cash for design work to be done for Williams' Art Company, $6,500. February 21, 2014 Purchased a copier (office equipment) from Thompson Equipment for $1,800, paid S500 in cash and agreed to pay the rest in equal payments over the next five months. February 21, 2014 Performed design work and received a cash fee, $2,860. February 24, 2014 Received full payment on account from Ward Department Stores for work performed last month. February 24, 2014 Performed design work for Mathis Department Stores and agreed to accept payment next month, $2,400 Instructions for February: 1. Analyze February's transactions on the transaction document. 2. Journalize February's transactions in the general journal. 3. Post February's journal entries to the general ledger. 4. Prepare a trial balance. 5. Journalize adjusting entries for February in the general journal. 6. Post February's adjusting entries to the general ledger. 7. Prepare an adjusted trial balance. 8. Prepare the financial statements in the proper order (Income Statement, Retained Earnings Statement, Balance Sheet) 9. Journalize the closing entries for February in the general journal. 10. Post February's closing entries in the general ledger. 11. Prepare a post closing trial balance for February February 25, 2014 Performed design work for a cash fee, $3,800 February 26, 2014 Paid the rent for March and April in advance, S1,600. February 27, 2014 Received and paid the utility bill for February, $265 Received the telephone bill for February, which will be paid next month, S195 February 28, 2014 February 28, 2014 The corporation declared a cash dividend of S.05 a share, to be paid in March. ADJUSTING ENTRY INFORMATION FOR FEBRUARY 1. One month's prepaid rent has expired. 2. One month's prepaid insurance has expired. 3. An inventory of graphic supplies reveals $750 still on hand on February 28. 4. An inventory of office supplies reveals $1,200 used during February. 5. Depreciation on graphic equipment for February is $200 and depreciation on the office equipment for February is $250. 6. Graphic design work for Williams' Art Company totaling $4,200 on February 28. Payment was received in advance. completed was 7. Anna completed the other half of the design work for Sam Jones. 8. Two weeks of wages have accrued at February 28, 2014. Anna will pay the receptionist on March 3, 2014. Graphic Design, Inc. January Transactions Anna Chase invested $20,000 in her newly formed corporation in exchange for 20,000 shares of $1 par value common stock January 2, 2014 January 3, 2014 Office space was rented and paid for in advance for January and February, S1,600 January 3, 2014 Graphic equipment was purchased with cash, S 3,600 January 6, 2014 Office equipment costing $5,000 was purchased from Morgan Equipment. Anna paid half now as the down payment and Morgan Equipment agreed to the balance being paid in February January 7, 2014 Graphic supplies costing $2,400 and office supplies costing s1,200 were purchased from Taylor Supply Company on credit. January 10, 2014 A 12 month liability insurance policy was purchased covering the period January 1, 2014 through December 31, 2014, S1,800 January 13, 2014 Anna accepted an advance payment from Sam Jones for graphic design work to be done during the months of January 2014 and February 2014, $12,750 January 13, 2014 Paid Taylor Supply Company in full for the graphic and office supplies purchased last week. January 14, 2014 Anna completed dealer by placing advertisements in the local newspaper and paid $3,600 some graphic design work for an automobile was January 20, 2014 Anna paid her receptionist $1,000 in wages for the period January 6 thru January 17, 2014 (two weeks). The workweek is Monday thru Friday (10 workdays). January 21, 2014 Anna accepted an advance payment of $4,000 to do some graphic design work for Miller's Advertising. January 24, 2014 Anna completed the work requested by Ward Department Stores. She sent a bill to the client for $3,800 January 27, 2014 Anna received and paid the utility bill for January, S160 January 28, 2014 Anna received January's telephone bill but will wait until February to pay it, S135 January 31, 2014 Anna's corporation declared dividends, .10 a share, to be paid in February ADJUSTING ENTRY INFORMATION FOR JANUARY 1. One month's prepaid rent has expired 2. One month's prepaid insurance has expired 3. An inventory of graphic supplies reveals S600 still on hand on January 31 4. An inventory of office supplies reveals $400 used during January 5. Depreciation on graphic equipment for January is S100 and depreciation office equipment for January is $150 on the 6. Graphic design work for Miller's Advertising, totaling $1,600, was January 31. Anna received payment in advance. completed on 7. Anna completed half the work for Sam Jones by the end of January. Anna received payment in advance. 8. Anna owes her receptionist $1,000 in wages for the period January 20 thru January 31 (10 workdays). Anna will pay her receptionist on February 3, 2014