Question

February Transactions 1-Feb Paid six months of rent in advance, $5,400. 4-Feb Paid wages and salaries for $2,150, part of which was accrued in January. 7-Feb Purchased supplies on account, $920 11-Feb Performed car repair services on account, $3,670. 17-Feb Collected cash from credit sales made in January and February, $4,300. 20-Feb Made a monthly payment on the equipment note, $70. 23-Feb Performed car repair services and received cash at the time of sale, $5,850. 25-Feb Accrued for the bonus earned by the shop manager that will be paid in April, $1,150. February Adjusting Entries 28-Feb The estimated depreciation on building and equipment is $810. 28-Feb One month of rent has expired, $900. 28-Feb The annual interest rate is 5% on all notes and paid quarterly. Round to the nearest dollar. 28-Feb The supplies remaining at the end of the month was $700. 28-Feb Accrued wages and salaries worked in February that will be paid 3-5, $2,000. 28-Feb The estimated income taxes for the month is $855. March Transactions 1-Mar Performed car repair services and received cash at the time of sale, $5,000. 4-Mar Paid wages and salaries for $2,300, part of which was accrued in February. 10-Mar Issued stock to new investors, $14,000. 15-Mar Made the interest payment on all notes, all is accrued in interest payable. 15-Mar Paid annual income taxes that was accrued in income taxes payable. 20-Mar Made a monthly payment on the equipment note, $70. 22-Mar Paid cash for advertising, $255. 27-Mar Performed car repair services on account, $4,600. 30-Mar Paid dividends to owners, $400. March Adiusting Entries 31-Mar The estimated depreciation on building and equipment is $810. 31-Mar One month of rent has expired, $900. 31-Mar The annual interest rate is 5% on all notes and paid quarterly. Round to the nearest dollar 31-Mar Accrued wages and salaries worked in March that will be paid 4-4, $2,020. 31-Mar The estimated income taxes for the month is $765.

Answer 1

Only Journal entries are done.

Please refer and sorry for inconvience.

Date LJU Jowinal Enties Fore February and y feb Prepaid bent March $ 5,400 5400 Ala Der cash (Being went paid in aceance) 4 feb Salary and 2,150 wages . Exp. Alc To salary & wagen (Being accused wales & Salary erecorded) accured 2150 7 Feb 9220 Purchases Alc creditore (Being supplies purchased) 11 feb 3670 fash 3670 for topsia susices Cash All De. secoice ( (Being Car veepair services performed) 17 feb 4300 To nc Dentos Cash collected 4300 (Being from deblon) 20 feb Cash Ak Equipment To Nole 70

Page Date 23reb Cash 5850 5850 (Being Al Dale Lath received ข y car service) sale 25 Peb Accured Income Bonus Alc (Being accweod bones mesecded.) 1,150 March 1 Has sooo sooo Cash Alc To Seevices Rendered Revence Alc (Being seccica rendercod and thom sale) 2 4 Mas Ak 2200 Wages & salary To Accured (Being . De. d salary accured) 4 2300 Salary Lo Mas Cash JY DOO Common Stock 14000 (Being stode issued) Is Mas Income tax Accred ( (Being accred Enp. Inom tar Income tax eap)

Page Date 20 Mar Cash Alc Equipment Noto Payable for equipment not) (Being payment for 2 ما Achentising Ak Cash 255 (Being advertising eup done) 255 27 Mar 4600 Cash Receivable To Seurice Recenae (Being car service performed) 4600 30 May Dividend yoo Cash (Being dividend paid owners)

Page 1 Date Tournal Adjusting sworier March feb 4 28 Feb 810 Depreciation Alc Building & equipment (Being depreciated) 281 Prepaid Rent Alc 900 Intencest 28 Peb pu Rak Erp Ak Cash holes paid) (Being and De. 70o 28 feb Too Teading Alc closing stock Bring stock egt) 2000 28 feb Accound wages & salary 2000 (Beily accould wges e Salary paid) P Du. ses Income 28 Feb cash in estimated 4 ( Being come paid)

Date LL Trial Balance Adjustment entries Debit, Creditossa 9785 800 goo Cash Bank Account Receivable Deprecation Building & Equipment Prepaid Rent Interest Eupena . Ala wages ļ salary Income tax Reat XX 765 4495 4495