TAKE HOME TEST ON 101+SOME 102 DUE 2/10

*Give the related journal entry and adjusting j/e to the right of each of the following for ABC Inc. Indicate which are adjusting J/E
*post to “T” accounts
*Do an adjusted T/B (The unadjusted T/B is optional)
*Do Income Statement, O/E, and BS for February

11) 2/1/05 ABC inc issued 500 shares of $3 par common stock for $20000
12) 2/1/05 ABC inc issued 100 shares of $100 par preferred for $11000
13) 2/1/05 ABC pays $12000 for a 12 month insurance policy which starts 2/1/05
14) 2/5/05 ABC buys $1000 of office supplies on account from Staples.
15) 2/6/05 ABC buys computers for $4000 cash.
16) 2/6/05 ABC pays Staples $330 toward the 2/5 bill.
17) 2/7/05 ABC Receives $6000 from SBX for future work to be done.
18) 2/8/05 ABC does $2500 of work for SBX.
19) 2/27/05 ABC gets a bill for telephone bill for Feb 2005 for $700
20) At the end of February there are $600 of office supplies left
21) The Depreciation for the computers for February is $130