$25,000 CALCULATOR PRINTER VERSION Accounting Cycle Review 10 -d Hasselhout Company's trial balance at December 31, 2020, Is as follows. All 2020 transactions have been recorded except for the items described following the trial balance. Debit Credit Cash Accounts Receivable 35,000 Notes Receivable 9,200 Interest Receivable Inventory 36,400 Prepaid Insurance 4,500 Land 21,800 Buildings 138,900 Equipment 61,900 Patents 9,100 Allowance for Doubtful Accounts $400 Accumulated Depreciation-Buildings Accumulated Depreciation 46,300 Equipment 24,760 Accounts Payable 27,500 Salaries and wages Payable Uneamed Rent Revenue 2.100 Notes Payable (due in 2018) 13,000 Interest Payable Notes Payable 2018) 35,000 Owners Capital 114.940 1.500 1.000 Interest Revenue 14,500 CALCULATOR PRINTER VERSION 901,000 Owner's Drawings Sales Revenue Interest Revenue Rent Revenue Gain on Disposal of Plant Assets Bad Debts Experise Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense Other Operating penses Amortization Expense Salaries and Wages pende Total 638,000 61,700 108,000 $1,165.000 $1,165,000 Unrecorded transactions: 1. On May 1, 2020, Hasselhou purchased equipment for $17,900 plus les taxes of $800 ( cash). 2. On y 1, 2020, Hasselhof sold for $3,500 quiment which originally cost $5.200. Accumulated depreciation on this equipment at January 1, 2020, was $1,800, 2020 depreciation prior te the sale of the qument was $500 3. On December 31, 2020, Hasselhof sold on account 55.500 of inventory that cost $3,500 4. Hasselhout estimates that collectible accounts receivable at year-ends 3.900 5. The receivable is a one-year, 8% note dated April 1, 2020. Notrest has been recorded 6. The balance in pregadisance represent payment of a $4.500 6-month premium on September 1, 2020 7. The building is being deprecated using the straight-line method over 30 years. The savage was 30,000 The womented prior to this year is being deprecated using the str e ethod over 5 years. The savage value is 10% of cost. The m ent purchased on May 1, 2020. being deprecated using the tre e method over 5 years with a savage value of $2.00 10. The plant was c on lanuary 1, 2020, and has a use of 10 years from the date 11 Unpad sales and December 11, 2020, 52.100 12 enemederev2 .100 receved on December 1, 2020, For t 11 both the short-term and long-termos de lary 1, 2020, d e retter v e st 12 m consisted above. (Credit account thesare automatic account titles and enter for the amounts) CALCULATOR Cred entered. Do not indent manually. If no entry is required (o record depreciation (to record cost of goods sold.) CALCULATOR PRINTER VERSION CALCULATOR PRINTER VERSION Prepare an updated December 31, 2020, trial balance. (Combine the amounts of current as current portion of Notes Payable. Do not record separately.) HASSELLNOUF COMPANY Trial Balance Debit Credit Video Study Prepare a 2020 income statement. HASSELLHOUF COMPANY Income Statement 1-5 (Video) by Study Prepare a 2020 an owner's equity statement. (List items that increase owner's equity first.) 25 06. a- -07 21:52 HASSELLHOUF COMPANY Owner's Equity Statement 10-12 10-13.12 10-02A1cb m 10-04 (Video) meting Cyde Results by Study LINK TO TEXT INTO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare a December 31, 2020, classified balance sheet. (List Current Assets in order of liquidity. List Propert HASSELLHOUF COMPANY Balance Sheet Assets Prepare a December 31, 2020, cassified balance sheet. (List Current Assets in order of liquidity. List Property, Plant and Equ HASSELLHOUF COMPANY Balance Sheet Assets Mdeo
