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I need help with the following: 1) Verify that Requirements 4, 6, and 7 are correctly done. 2) How to do Requirement 5. REQUIREMENT 2
I need help with the following:
REQUIREMENT 2 : Prepare an Adjusted Trial Balance in the space below. Howard's Flight Radio Management Corporation March Transactions \begin{tabular}{|c|c|} \hline Date & Transaction Description \\ \hline March I & \begin{tabular}{l} Began business by making a deposit in a company bank \\ account of $22500, in exchange for 2,250 shares of $10 par \\ value common stock. \end{tabular} \\ \hline March 1 & Paid the premium on a 1-year insurance policy, $2,160. \\ \hline March 1 & Paid the current month's rent expense, $1,800. \\ \hline March 3 & \begin{tabular}{l} Purchased repair equipment from Fred Company, $5,800. Paid \\ $2200 down and the balance was placed on account. The rest \\ will be paid in equal payments over the next 12 months. The first \\ payment is due 4/1. Note: Use Accounts Payable for the \\ Balance Due. \end{tabular} \\ \hline March 8 & Purchased repair supplies from Gary Company on credit, $650. \\ \hline March 10 & Paid telephone bill for March, $400. \\ \hline March 11 & \begin{tabular}{l} Cash flight management system (FMS) repair revenue for the \\ first third of March, $2000. \end{tabular} \\ \hline March 18 & Made payment to Gary Company, $400. \\ \hline March 20 & Cash FMS repair revenue for the second third of March, $2,450. \\ \hline March 31 & Cash FMS repair revenue for the last third of March, $1,500. \\ \hline March 31 & Paid the current month's electic bill, $300. \\ \hline March 31 & Declared and paid cash dividend of $1,000. \\ \hline \end{tabular} Kequirement "4: Prepare djusting entries using the following information in the General Journal below. Show your calculations! a) One month's insurance has expired. b) The remaining inventory of repair supplies is $200. c) The estimated depreciation on repair equipment is $150. d) The estimated income toxes are $100. Requirement \#5: Post the adjusting entries on March 31 below to the General Ledger T-occounts and compute odjusted balances. Just add to the balances that are already listed. Requirement e7: Prepare the financial statements for Howard's Flight Radio Management Corporation os of March 31 in the space below rou wil only be preparing the income Statement, Statement of Refained Earing. and the Balance Sheot. The statement of Cosh flows is a required Financlal Statement, but is not requited for this project. Howard I Flight Rodio Mahogement Corporotion income Statement For the Month Ending Moreh 31 Howard's Filght Rodio Manogement Corporotion Statement of Refained Eorningi For the Month Ending Morch at Howard 't Flight Rodio Manogement Corporatien Belonee Shoet March a! It the following T-Accounts and compute ending Howard's Flight Radio Management Corporation 1) Verify that Requirements 4, 6, and 7 are correctly done.
2) How to do Requirement 5.
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