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1) prepare journal entries for transactions a-k 2)prepare adjusting entries for transactions l-p 3)post journal entries for transactions a-k and adjusting entries for transactions l-p to respective T accounts 4)prepare an income statement (including earnings per share) statement of stockholders equity and balance sheet 5) identify the type of transactions for a-k for the statement of cash flows (O for operating, I for investing, f for financing) and the direction and amount of the effect prepare 6) prepare closing entry on December 31 2017

Brothers Mike and Tim Hargen began operations of their tool and die shop (H & H Tool, Inc) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2017. f Credit Debit 4,000 3,000 12,000 79,000 9,000 8,000 Account Titles Cash Accounts receivable Supplies Land Equipment Accumulated depreciation (on equipment) Other assets (not detailed to simplity Accounts payable Wages payable Interest payable Income taxes payable Long-term notes payable Common stock (12,000 shares. $.50 par value) Additional pald-in capital Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Remaining expenses (not detailed to simplity) Totals 6,000 81,000 10.000 106.000 106,000 Transactions during 2017 follow. a Borrowed $20,000 cash on a 5 year, 12 percent note payable, dated March 1, 2017 b Purchased land for a future building site on March 15, 2017, paid cash, $12,000. Earned $223,000 in revenue Transactions dated August 30, 2017, including $50,000 on credit and the rest in cash d Sold 6,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2017 e Incurred $116,000 in remaining expenses for 2017, invoices dated October 15, 2017, including $21,000 on credit and the rest paid in cash. f Collected accounts receivables on November 10, 2017, 535,000 9 Purchased other assets on November 15, 2017 $12,000 cash h. Purchased supplies on account for future use on December 1, 2017, $24.000 L Pald accounts payable on December 15, 2017, $22,000. I Signed a three-year $30,000 service contract on December 17, 2017 to start February 1, 2018 k Declared and paid cash dividends on December 20, 2017. $22,000 Data for adjusting entries Supplies counted on December 31, 2017 $15,000 m Depreciation for the year on the equipment, $11,000 n. Interest accrued on notes payable (to be computed). o Wages earned by employees since the December 24 payroll but not yet paid $14.000 p. Income tax expense, $10,000 payable in 2018