I need Adjusted Trial Balance and multi step Income statement to use this inform

Question

I need Adjusted Trial Balance and multi step Income statement to use this information.

Jones Widget Company (JWC) incorporated near the end of 2013. Operations began in January of 2014. JWC prepares adjusting entries and financial statements at the end of each month. The statements report monthly results for the period February 1-29, 2014.

Pertinent items of general information:
Beginning Balances from 1/31/14
Cash $33,620

Unearned Revenue (40 units) $6,000
Accounts Receivable $9,510   

Accounts Payable (Jan Rent) $1,300
Allowance for Doubtful Accounts $700

Notes Payable $18,000
Inventory (30 units) $2,730

Contributed Capital $15,000
Retained Earnings $4,860

• JWC establishes a policy that it will sell inventory at $150 per unit.
• In January, JWC received a $6,000 advance for 40 units, as reflected in Unearned Revenue.
• JWC’s February 1 inventory balance consisted of 30 units at a total cost of $2,730.
• JWC’s note payable accrues interest at a 10% annual rate.
• JWC will use the FIFO inventory method and record COGS on a perpetual basis.

February Transactions
02/01 Included in JWC’s February 1 Accounts Receivable balance is a $2,000 account due from Kit Kat, a JWC customer. Kit Kat is having cash flow problems and cannot pay its balance at this time. JWC arranges with Kit Kat to convert the $2,000 balance to a note, and Kit Kat signs a 6-month note, at 12% interest. The principal and all interest will be due and payable to JWC on August 1, 2014.
02/02 JWC paid a $500 insurance premium covering the month of February. The amount paid is recorded directly as an expense.
02/05 An additional 150 units of inventory are purchased on account by JWC for $14,100 – terms 3/10, n30; FOB Destination.
02/10 Sales of 110 units of inventory occurred during the period of 02/07 – 02/10. The sales terms are 2/10, net 30.
02/15 The advance order for 40 units from January is delivered to the customer.
02/15 20 units of the inventory that had been sold on 2/10 are returned to JWC. The units are not damaged and can be resold. Therefore, they are returned to inventory. Assume the units returned are identified as being from the batch that was acquired on 02/05.
02/16 JWC pays the first 2 weeks wages to the employees. The total paid $1,500.
02/17 Paid in full the amount owed for the 02/05 purchase of inventory.
02/18 Wrote off a customer’s account in the amount of $700.
02/19 $2,600 of rent for January and February was paid. Because all of the rent will soon expire, the February portion of the payment is charged directly to expense.
02/19 Collected $4,000 on customers’ Accounts Receivable. Of the $4,000, the discount was taken by the customer on
$3,000 of the account balances.
02/21 A new inventory supplier that charges a lower price per unit is located. The new supplier’s terms are 2/15, n45; FOB Shipping Point. JWC purchases 50 units on account for $4,400.
02/22 JWC paid Federal Express $100 to have the 50 units of inventory delivered overnight. Delivery occurred on 02/22.
02/26 JWC recovered $400 cash from the customer whose account had previously been written off (see 02/18).
02/27 A $400 utility bill for February arrived. It is due on March 15 and will be paid then.
02/28 JWC declared and paid a $500 cash dividend.
02/28 Paid in full the amount owed for the 02/21 purchase of inventory.

Adjusting entries:
02/29 (adjusting 1) Record the $1,500 employee salary that is owed but will be paid March 1.
02/29 (adjusting 2) JWC decides to use the aging method to estimate uncollectible accounts. JWC determines 8% of the ending accounts receivable balance is the appropriate end of February estimate of uncollectible accounts.
02/29 (adjusting 3) Record February interest expense accrued on the note payable.
02/29 (adjusting 4) Record one month’s interest earned Kit Kat’s note (see 02/01)

Explanation / Answer

Perpetual Inventory Feb Purchases COGS Balance 1 Bal. 30 91 2730 30 91 2730 5 Purchases 150 94 14100 30 91 2730 150 94 14100 7 to 10 Sale 30 91 2730 80 94 7520 70 94 6580 15 Sale 40 94 3760 30 94 2820 Sales returns -20 94 -1880 50 94 4700 21 Purchases 50 88 4400 50 94 4700 50 88 4400 22 Freight 50 94 4700 50 90 4500 28 Discount 50 94 4700 50 88.24 4412 230 21230 130 12130 February Journal entries 1 Note receivable 2000 Accounts receivable 2000 2 Insurance expense 500 Cash 500 5 Inventory 14100 Accounts payable 14100 7 to 10 Accounts receivable 16500 Sales 16500 COGS 10250 Inventory 10250 15 Unearned Revenue 6000 Sales 6000 COGS 3760 Inventory 3760 Sales returns 3000 Accounts receivable 3000 Inventory 1880 COGS 1880 16 Wage expense 1500 Cash 1500 17 Accounts Payable 14100 Cash 14100 18 Allowance for doubtful accounts 700 Accounts receivable 700 19 Rent expense 1300 Accounts payable 1300 Cash 2600 Cash 3000 Sales discounts 1000 Accounts receivable 4000 21 Inventory 4400 Accounts payable 4400 22 Inventory 100 Cash 100 26 Accounts receivable 400 Allowance for doubtful accounts 400 Cash 400 Accounts receivable 400 27 Utility expense 400 Accounts payable 400 28 Dividend expense 500 Cash 500 28 Accounts payable 4400 Cash 4312 Inventory 88 Adjusting entries Wage expense 1500 Wage payable 1500 Interest expense 150 Interest payable 150 18000*10%/12 Interest receivable 20 Interest earned 20 2000*12%/12 NET LEDGER Balance LEDGER ACCOUNTS Debit Credit Debit Credit 1 Opening balance 1300 5 Accounts payable 14100 17 Accounts Payable 14100 19 Accounts payable 1300 21 Accounts payable 4400 27 Accounts payable 400 28 Accounts payable 4400 400 1 Opening balance 9510 1 Accounts receivable 2000 7 Accounts receivable 16500 15 Accounts receivable 3000 18 Accounts receivable 700 19 Accounts receivable 4000 26 Accounts receivable 400 26 Accounts receivable 400 16310 1 Opening balance 700 18 Allowance for doubtful accounts 700 26 Allowance for doubtful accounts 400 28 Bad debts 905 1305 28 Bad debt expense 905 905 1 Opening Balance 33620 2 Cash 500 16 Cash 1500 17 Cash 14100 19 Cash 2600 19 Cash 3000 22 Cash 100 26 Cash 400 28 Cash 500 28 Cash 4312 13408 1 Contributed Capital 15000 15000 7 COGS 10250 15 COGS 3760 15 COGS 1880 12130 28 Dividend expense 500 500 2 Insurance expense 500 500 28 Interest earned 20 20 28 Interest expense 150 150 28 Interest payable 150 150 28 Interest receivable 20 20 1 Opening balance 2730 5 Inventory 14100 7 Inventory 10250 15 Inventory 3760 15 Inventory 1880 21 Inventory 4400 22 Inventory 100 28 Inventory 88 9112 1 Notes payable 18000 18000 1 Note receivable 2000 2000 19 Rent expense 1300 1300 1 Retained Earnings 4860 4860 7 Sales 16500 15 Sales 6000 22500 19 Sales discounts 1000 1000 15 Sales returns 3000 3000 1 Opening Balance 6000 15 Unearned Revenue 6000 0 27 Utility expense 400 400 16 Wage expense 1500 28 Wage expense 1500 3000 28 Wage payable 1500 1500 139925 139925 63735 63735 TRIAL BALANCE after ADJUSTMENT Entries Cash 13408 Accounts receivable 16310 Allowance for doubtful accounts 1305 Inventory 9112 Note receivable 2000 Interest receivable 20 Accounts payable 400 Unearned Revenue 0 Wage payable 1500 Interest payable 150 Notes payable 18000 Contributed Capital 15000 Retained Earnings 4860 Sales 22500 Sales discounts 1000 Sales returns 3000 COGS 12130 Rent expense 1300 Insurance expense 500 Utility expense 400 Wage expense 3000 Bad debt expense 905 Interest earned 20 Interest expense 150 Dividend expense 500 Total 63735 63735 Multi-step Income Statement for Feb. Sales 22500 Less: Sales discounts 1000 Sales returns 3000 4000 Net Sales 18500 Less: COGS 12130 Gross Profit 6370 Less: Operating Expenses: Rent expense 1300 Insurance expense 500 Utility expense 400 Wage expense 3000 Bad debt expense 905 6105 Operating Income 265 Less: Non-operating exp.(inc.) Interest earned -20 Interest expense 150 130 Net income before tax 135 Classified Balance Sheet As at end Feb.2014 Assets Current assets Cash 13408 Accounts receivable 16310 Less:Allowance for doubtful accounts 1305 15005 Inventory 9112 Note receivable 2000 Interest receivable 20 Total current assets 39545 Total assets 39545 Liabilities & Equity Liabilities Current Liabilities Accounts payable 400 Wage payable 1500 Interest payable 150 Total current liabilities 2050 Notes payable 18000 Total Liabilities 20050 Equity Contributed Capital 15000 Retained Earnings(4860+135-500) 4495 19495 Total Liabilities & Equity 39545

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