March Transactions \begin{tabular}{|c|c|} \hline Dote & Tronsaction Description \\ \hline March 1 & \begin{tabular}{l} Began business by making a deposit in a company bank \\ account of $22500, in exchange for 2.250 shares of $10 por \\ 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 & \begin{tabular}{l} Purchosed repair supples from Gary Company on credit. \\ $650. \end{tabular} \\ \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 & \begin{tabular}{l} Cash FMS repair revenue for the second third of March, \\ $2,450. \end{tabular} \\ \hline March 31 & Cosh FMS repair revenue for the last third of Morch, $1,$00. \\ \hline March 31 & Poid the current month's electic bill, $300. \\ \hline March 31 & Declared and paid cash dividend of $1.000. \\ \hline \end{tabular} Mena Project instructions March Transactions Chart of Accounts inputs 1 - Joumal Entries 2-General Ledger 3T2 Search Paste Recos : s 1H= General 56 of,+2+8 Condfitional Foemat as Fomatting Number ris Copbaid is font Nignent r. Table - Normal 2 Bad 022 f FMS Repair Reverne Chart of Accounts \begin{tabular}{|c|c|c|c|} \hline Account Type & \begin{tabular}{l} Account \\ Uumber \end{tabular} & Accountintle: & Normol Aalance \\ \hline \multicolumn{4}{|l|}{ Alsets } \\ \hline & 111 & Cosh & Debit \\ \hline & 117 & Prepaid insurance & Debit \\ \hline & 119 & Repair supplies & Debit \\ \hline & 144 & Repar Equlpment & Debit \\ \hline & 145 & Accum Dep -Repolr Equlpment & Credit. \\ \hline \end{tabular} Review Chopter 2. p. 90 for more intomation on the Chart of Accounts \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|l|}{ Uabilities } \\ \hline & 212 & Accounts Payable & Credt \\ \hline & 213 & Income fax Poyable & Credi: \\ \hline \multicolumn{4}{|c|}{ Stockholden Equily } \\ \hline & 3ir. & Commonstock & Creait \\ \hline & 312 & Retolned fomings & Credit \\ \hline & 313 & bividencs & Debit: \\ \hline \end{tabular} Revenue 4) FMS Repar Revenue IIIIIIICredil Expense: \begin{tabular}{|c|c|c|c|} \hline & 511 & Store Rent Expense & Debt \\ \hline & 512 & Jelephone Expenso & Debif \\ \hline & 513 & Insutance Experise & Debit \\ \hline & 514 & Repair supples Expense. & Debil \\ \hline & Sis & Dep Experse Repor foumment & Dobli \\ \hline & 516 & Income tox Expense & Dobit \\ \hline & 517 & Fectric Expenso & Dobli \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline & 4) & FMS Repar Revenue & Credit \\ \hline \multicolumn{4}{|l|}{ Expenses } \\ \hline & S11: & Store Ront Expense & Debt \\ \hline & 512 & Jeiephone Expenso & Debit \\ \hline & 513 & Infutance Experise & Debit \\ \hline & 514 & Repair supplies Expense. & Debil \\ \hline & 515 & Dep Expense Repor fqument & Dobit: \\ \hline & 516 & Income tox Expenso & Doblt : \\ \hline & 517 & Electric expenso & Dobit \\ \hline \end{tabular} Menis Project instructions: March Tansactions Chart of sccounts Routs 1- houmal Entries 2. General tedger 3-Triar tialance Mut be Manually Updated Frem Tatch Transactions: Data lest be Manually Updated From "Adjesting Entries" Dat Sutomatically Updated Eroen Tatch Transactions"- Dat Once you've completed this requirement print your General Journal to complete Requirement $2 on the General ledger worksheet. have a balance. Requirement e4: Prepore adjusting entrles using the following information in the General Journal below. Show your calculationst c) One month's insurance has expired. b) The remoining inventory of fepair supplies is $200. c) The estimated depreciation on repcir equipment is $150. d) The estmaled income faxes cre $100. Requirement $5 : Post the adjusting entries on March 31 below to the General Ledger T-accounts and compute adjusted bolances. Just add to the balances that are already listed. Howard's Flight Radio Management Corporation Adjusted Trial Balance Requirement 47: Prepare the finonciai statements for Howard's fight Rado Manogement Corporation os of March 31 in the spoce below. You wil only be preparng the Income Statement, Statement of Refained Earniria. and the Bolance Sheef. The Statement of Cosh Flows is a required Finoncial Statement, but is nof required for this profect. Meward What Hodle Management Coperation income Stolement For the Menth roding March st awat dr Fight Hodle Menogement Corporatio stotement of heleined Forningt For the Mouth thiding Noreh solance sheet Marengi