Financial Accounting Project Requirement 2

Posted on July 10, 2021

There are eight worksheets in the workbook however you will need to complete 4-7. All of the information you need to complete this Course Project is located in an Excel® Workbook. Be sure to read all the sheets in the workbook. This workbook includes:

• A list of March transactions 

• A Chart of Accounts reference sheet 

• A Grading Rubric to help explain what is expected 

• Each worksheet has the Check Figures embedded as a comment

Scenario 

You’ve just secured a new client in your accounting practice, Howard’s Flight Radio Management Corporation (HFRM), a brand new small business specializing in flight management systems (FMS). The owner, Howard Allan, is a former Air Force pilot and retired Colonel, but definitely not an accountant. Your job is to help Howard put his affairs in order. Luckily, Howard has only been in operation for a month and things have not gotten too out of hand yet! Howard has to submit his financial statements to his investors and doesn’t know where to begin. It’s your job to go through the complete accounting cycle to prepare the financial statements for the HFRM.

Requirements 

4 Prepare the   Adjusting Entries 

5 Post Adjusting   Entries to the General Ledger 

6 Prepare an   Adjusted Trial Balance 

7 Prepare the   Financial Statements