B1 - Snow Company started operations on February 1, 2020 by depositing $3,000,000 cash in the...

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Accounting

B1 - Snow Company started operations on February 1, 2020by depositing $3,000,000 cash in the bank as capital. The followingtransactions took place during the first month ofoperations:
February 3: Purchased supplies for $22,500 incash.
February 9: Purchased equipment for $255,000, paid$105,000 in cash and the remaining amount will be paid after 10days.
February 12: Received a bill from Dubai News foradvertising amounted to $1,650.
February 14: Paid $24,000 salaries in cash.
February 16: Paid $6,000 utilities expense incash.
February 17: Provided services to customers for $195,000in cash.
February 19: Paid $150,000 for equipment purchased onFebruary 9.
February 28: The owner withdrew $7,500 cash for personaluse.
Required:
Prepare the trial balance of Snow Company on February29, 2020.
Prepare the financial statements of Snow Company onFebruary 29, 2020.

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B1 - Snow Company started operations on February 1, 2020by depositing $3,000,000 cash in the bank as capital. The followingtransactions took place during the first month ofoperations:February 3: Purchased supplies for $22,500 incash.February 9: Purchased equipment for $255,000, paid$105,000 in cash and the remaining amount will be paid after 10days.February 12: Received a bill from Dubai News foradvertising amounted to $1,650.February 14: Paid $24,000 salaries in cash.February 16: Paid $6,000 utilities expense incash.February 17: Provided services to customers for $195,000in cash.February 19: Paid $150,000 for equipment purchased onFebruary 9.February 28: The owner withdrew $7,500 cash for personaluse.Required:Prepare the trial balance of Snow Company on February29, 2020. Prepare the financial statements of Snow Company onFebruary 29, 2020.