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The Individual did not answer steps $8-11$

March Transactions

Chart of Accounts

Inputs

$1-$ Journal Entries

$2-$ General Ledger

$3-$ Trial Balance

$4$ & $5$ Adjusting Entries

$6-$ Adjusted TBRequirement #$7$: Prepare the financlal statements for Howard's Filght Radio Management Corporation as of March $31$ in the space below.

You wil only be preparing the Income Statement, Statement of Retained Earning, and the Balance Sheet.

The Statement of Cash Flows is a required Financlal Statement, but is not required for this project.

Howard's Filght Radio Management Corporation

Statement of Retained Earnings

For the Month Ending March $31$

Since net income is incorrect, ending retained

earnings is also incorrect.

Howard's Filght Radio Management Corporation

Balance Sheet

March $31$

The highlighted amount is incorrect due to errors in previous steps.

March $1$ 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.

March $1$ Paid the premium on a $1-$year insurance policy, $$2,160.$

March $1$ Paid the current month's rent expense, $$1,800.$

March $3$ 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 Use Accounts Payable for the Balance Due.

March $8$ Purchased repair supplies from Gary Company on credit, $$650.$

March $10$ Paid telephone bill for March, $$400.$

March $11$ Cash flight management system $($FMS$)$ repair revenue for the first third of March, $$2000.$

March $18$ Made payment to Gary Company, $$400.$

MArch $20$ Cash FMS repair revenue for the second third of March, $$2,450.$

March $31$ Cash FMS repair revenue for the last third of March, $$1,500.$

March $31$ Paid the current month's electic bill, $$300.$

March $31$ Declared and paid cash dividend of $$1,000.$

Account Type Account Number Account Title No

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