Yes,this question was previously asked,but there are minor mistakes in the answer according to the Prof.Also this has some extra questions.May the best help.Thanks

During its first month of operation, the Rawls Repair Company, which specializes in bi following transactions: cycle repairs, compieted the Feb. 1 Owner and sole stocknolder,John Rawls, began business by investing $10,000 in exchange for common stock Feb. 1 Paid the premium on a one-year insurance policy, $1,200 Feb. 1 Paid the current month's rent, $1,040. Feb. 3 Purchased repair equipment from Conklin Compary. $4,400 by signing a 2-year note. Feb 8 Purchased repair supplies from McKenna Company on credit, $420 Feb. 19 Made partial-payment to McKenna Company, $200. Feb. 20 Paid wages to part-time assistant, $800 Feb. 28 Cash bicycle repair revenue for February, $3,200. Feb. 28 Owner, John Rawis, was given a cash dividend of $600 Feb. 28 Received a bill tor February utilities, 5185, to be paid in March. STEP #1: Prepare journal entries to record the February transactions in the Journal STEP H2: STEP M3: Prepare a trial balance at February 28. STEP t4: Prepare Feb. 28 adjusting entries in the Journal using the folowing information Post the February journal entries to the T-Accounts and compute ending balances al One month's worth of prepaid insurance has expired. b) The remaining amount of repair supplies at month-end is $194. c) The estimated monthly depreciation on repair equipment is $70. dl Unpaid wages at Feb. 28 are $100. STEP N5: Post your adjustments to the T-accounts and compute adjusted balances. (ust add to the same February accounts used in requirement #2 STEP M6: Prepare an Adjusted Trial Balance at February 28 STEP #7: Prepare the financial statements for Rawls Repair Company as of February 28 Income Statement . Retained Earnings Statement Classified Balance Sheet. Your balance sheet MuST classify assets as ourrent or property, plant & equipment, and must classity liabilities as current or long-term. STEP u8: identily what type of accounts should be closed at the end of the accounting period. You are not required to prepare the actual journal entries to clase the accounts STEP 19: Prepare a post-closing trial balance as af February 28, as closing process. suming that the proper accounts were dosed in the