Question

*9 Required information C4-2 From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6) [The following information applies to the questions displayed below) Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify: Account Titles Debit Credit Accounts Receivable Cash 4 11 0 59 $ 7 14 Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Ravenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 6 0 0 0 O 66 7 0 0 O O $92 $92 Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on March 1 using a short-term note b. Purchased land on March 2 for future building site; paid cash. $7.

Answer 1

126 127 128 129 H & H Tool Inc. Adjusted Trial balance At December 31,2018 67 20 11 7 59 130 131 132 133 134 135 136 14 26 12 137 9 138 Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts payable Notes payable Salaries & Wages Payable Interest payable Income Tax Payable Common Stock Retained Earnings Service revenue Salaries & Wages Expense Supplies expense Depreciation expense 13 139 12 140 N 141 9 142 91 143 7 144 158 145 96 146 17 147 7

148 6 149 9 Amortization expense Income Tax Expense Interest expense Total 150 2 151 327 327 152