1. Creat journal entries to record each of February's transaction.

2. Post onto ledger accounts

3. prepare unadjusted trial balance

4. prepare adjusted journal entries

5. prepare an adjusted trial balance

6. prepare in good form the following finanical statements for the year ending in feb 28, 2020

7. prepare closing entries

8. prepare a post closing trial balance

The "xx" (Ex. $6xx) refers to the number as "$600". "xx" = 00

Transcribed Image Text:

Excellence Assured Business Executive Coaching and Motivational Speakers, Inc. Transactions for February 2020 February 1 The business received cash of $22,000. The corporation issued common stock to the stockholders. February 1 Paid $3,600 for 4 years of insurance. February 1 Received $2,400 from a client for 3 months of service. February 2 The company signed a note payable for $26,200 from the bank, due in one year with 12% annual interest. February 5 Paid $25,000 for equipment. February 6 Purchased supplies on account, S1,6xx. Excellence Assured Business Executive Coaching and Motivational Speakers, Inc. Transactions for February 2020 February 1 The business received cash of $22,000. The corporation issued common stock to the stockholders. February 1 Paid $3,600 for 4 years of insurance. February 1 Received $2,400 from a client for 3 months of service. February 2 The company signed a note payable for $26,200 from the bank, due in one year with 12% annual interest. February 5 Paid $25,000 for equipment. February 6 Purchased supplies on account, S1,6xx.

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