Question: Part 2 Required: A. Prepare adjusting entries using the information below: Feb 28th One month of the fire insurance policy has expired. One month of

 Part 2 Required: A. Prepare adjusting entries using the information below:
Feb 28th One month of the fire insurance policy has expired. One
month of the Feb 28th By the end of February, $4,750 of
services had been provided to students who paid By the end of
Febr for advanced tutoring services on Feb. 18th Unpaid salaries at the
end of February as $11,600 Feb 28th Feb 28th Supplies on hand

Part 2 Required: A. Prepare adjusting entries using the information below: Feb 28th One month of the fire insurance policy has expired. One month of the Feb 28th By the end of February, $4,750 of services had been provided to students who paid By the end of Febr for advanced tutoring services on Feb. 18th Unpaid salaries at the end of February as $11,600 Feb 28th Feb 28th Supplies on hand at the end of February totaled $1,500. Feb 28th Depreciation on the building for the month was $625. Feb 28th Accrued Interest associated with note payable of $1,250. B. Update General Ledger used in Part 1 C. Prepare an Adjusted Trial balance in good form Stellar Student Tutoring Adjusted Trial Balance February 28, 2020 Debit Account Credit Cash Wage Payable 31-Jan 1-Feb $ 32,000 15,000 25,000 1-Feb 7,800 1-Feb 12,300 16-Feb Interest Payable 18-Feb $ 22-Feb $ 10,500 40,000 3,330 25-Feb 6,250 25-Feb 2,000 28-Feb 40,820 31.Jan 11-Feb $ Accounts Receivable 11,000 35,840 $ 40,000 22-Feb 6,840 Sales Revenue 35,840 11-Feb 31-Jan 9-Feb $ $ Supplies 5,600 3,500 9,100 16-Feb $ Wage Expense 12,300 1-Feb $ Prepaid Insurance 7,800 25-Feb $ Utility Expense 3,330 Insurance Expense 28-Feb 31-Jan $ Land 68,000 Supply Expense 1-Feb $ Building 150,000 Depreciation Expense Accum. Depr Interest Expense Accounts Payable 4,200 31-Jan 3,500 9-Feb 25-Feb $ 6,250 1,450 Unearned Revenue 10,500 18-Feb Notes Payable 125,000 1-Feb Common Stock 85,000 31-Jan 15,000 1-Feb 100,000 Common Stock 85,000 31-Jan 15,000 1.Feb 100,000 Retained Earnings 27,400 31-Jan 28-Feb $ Dividends 2,000 Stellar Student Tutoring Adjusted Trial Balance February 28, 2020 Debit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!