Question: please help ehensive Problem (Manual Posting) Brothers Harry and Herman Hausyerday began operations of their machine shop (H &H Tool, Inc) on January 1,2016. The


ehensive Problem (Manual Posting) 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) Accounts Receivable Supplies Equipment Accumulated Depreciation s 7 Accumulated Amortization Accounts Payable Notes Payable (short-tere) Salaries and Wages Payable Interest Payable Income Tax Payable Retained Earnings Service Revenue Salarles and Hages Expense Depreciation Expense mortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 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 c Issued additional shares of common stock on April 3 for $28 d Purchased software on July 4, $12 cash e Purchased supplies on account on October 5 for future use, $17 t Paid accounts payable on November 6, $14 g Signed a $30 service contract on November 7 to start February 1, 2019 h Recorded revenues of $152 on December 8, including $36 on credit and $116 collected in cash. Recognized salaries and wages expense on December 9. $81 paid in cash / Collected accounts receivable on December 10, $20 Data for adjusting journal entries as of December 3t
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
