warded ed others Herm and Steve Hargenrater began operations of their tool and die shop (H...

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warded ed others Herm and Steve Hargenrater began operations of their tool and die shop (H & H Tool) on January 1, 1987, in eadville, PA. The annual reporting period ends December 31. Assume that the trial balance on January 1, 2023, was follows: H & H Tool Cash Accounts receivable Supplies Trial Balance on January 1, 2023 (dollars in millions, except par value) Debit 6 Credit 5 13 Land Equipment Accumulated depreciation (on equipment) Other, noncurrent assets (not detailed to simplify) 78 8 7 Accounts payable Wages payable Interest payable Dividends payable Income taxes payable Long-term notes payable Common stock (8 million shares, $0.50 par value) 4 80 Additional paid-in capital 17 Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Miscellaneous expenses (not detailed to simplify) Totals 109 109 ansactions during 2023 follow. All dollars are in millions, except per share amounts: Borrowed $15 cash on a five-year, 8 percent note payable, dated March 1, 2023. Sold 4 million additional shares of common stock for cash at $1 market value per share on January 1, 2023. Purchased land for a future building site; paid cash, $13. Earned $215 in revenues for 2023, including $52 on credit and the rest in cash. W N * 52 warded ed others Herm and Steve Hargenrater began operations of their tool and die shop (H & H Tool) on January 1, 1987, in eadville, PA. The annual reporting period ends December 31. Assume that the trial balance on January 1, 2023, was follows: H & H Tool Cash Accounts receivable Supplies Trial Balance on January 1, 2023 (dollars in millions, except par value) Debit 6 Credit 5 13 Land Equipment Accumulated depreciation (on equipment) Other, noncurrent assets (not detailed to simplify) 78 8 7 Accounts payable Wages payable Interest payable Dividends payable Income taxes payable Long-term notes payable Common stock (8 million shares, $0.50 par value) 4 80 Additional paid-in capital 17 Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Miscellaneous expenses (not detailed to simplify) Totals 109 109 ansactions during 2023 follow. All dollars are in millions, except per share amounts: Borrowed $15 cash on a five-year, 8 percent note payable, dated March 1, 2023. Sold 4 million additional shares of common stock for cash at $1 market value per share on January 1, 2023. Purchased land for a future building site; paid cash, $13. Earned $215 in revenues for 2023, including $52 on credit and the rest in cash. W N * 52

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H H Tool GENERAL JOURNAL January 1 2023 to December 31 2023 Date Account Titles Debit Credit Jan ... View the full answer