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Please help with learning where to place these balances I have attached the prior balances to use them for the following steps. Step 4: Adjusting
Please help with learning where to place these balances
I have attached the prior balances to use them for the following steps.
Step 4: Adjusting Journal Entries
Steps 5 & 6: Posted and Adjusted Trial Balance
Step 7: Financial Statements
REQUIREMENT \#6: Prepare an Adjusted Trial Balance in the space below. Howard's Flight Radio Management Corporation equirement \#7: Prepare the financial statements for Howard's Flight Radio Management Corporation as of March 31 in the space below. 'ou will only be preparing the Income Statement, Statement of Retained Earning, and the Balance Sheet. he Statement of Cash Flows is a required Financial Statement, but is not required for this project. Requirement \#4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations! a) One month's insurance has expired. o) The remaining inventory of repair supplies is $200. c) The estimated depreciation on repair equipment is $150. d) The estimated income taxes are $100. Requirement \#5: Post the adjusting entries on March 31 below to the General Ledger T-accounts and compute adjusted balances. Just add to the balances that are already listed. REQUIREMENT \#3: Prepare a trial balance for March in the space below. Name Box Howard's Flight Radio Management Corporation Trial Balance March 31 Only enter accounts that have a balance. \begin{tabular}{l|l} \multicolumn{2}{c}{ Repair Supolies Expense (514) } \\ \hline & \\ \hline & \\ \hline & \end{tabular} \begin{tabular}{l|l} \hline Depr. Exp.-Repair Equipment (515) \\ \hline & \\ \hline & \\ \hline & \end{tabular} This worksheet will be used to complete Requirements \#2, \#5 and \#9. Instructions for \#5 can be found on the Adjusting Entries Worksheet. Instructions for \#9 can be found on the Closing Entries Worksheet. EQUIREMENT \#1: Prepare journal entries to record the March transactions in the General Journal elow. Remember that Debits must equal Credits-All of your Journal Entries should balance. Once you've completed this requirement print your General Journal to complete Requirement \#2 on the General Ledger worksheet
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