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C 4 - 2 ( Algo ) From Recording Transactions ( Including Adjusting Journal Entries ) to Preparing Financial Statements and Closing Journal Entries (
CAlgo From Recording Transactions Including Adjusting Journal Entries to Preparing Financial Statements and Closing Journal Entries Chapters and LO LO LO LO LO LO LO LO Skip to question The following information applies to the questions displayed below. Brothers Harry and Herman Hausyerday began operations of their machine shop H & H Tool, Incorporated on January The annual reporting period ends December The trial balance on January follows the amounts are rounded to thousands of dollars to simplify: Account Titles Debit Credit Cash $ Accounts Receivable Supplies Land Equipment Accumulated Depreciation $ Software Accumulated Amortization Accounts Payable Notes Payable shortterm Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals $ $ Transactions and events during summarized in thousands of dollars follow: Borrowed $ cash on March using a shortterm note. Purchased land on March for future building site; paid cash, $ Issued additional shares of common stock on April for $ Purchased software on July $ cash. Received supplies on account on October for future use, $ Paid accounts payable on November $ Signed a $ service contract on November to start February Recorded revenues of $ on December including $ on credit and $ collected in cash. Recognized salaries and wages expense on December $ paid in cash. Collected accounts receivable on December $ Data for adjusting journal entries as of December : Unrecorded amortization for the year on software, $ Supplies counted on December $ Depreciation for the year on the equipment, $ Interest of $ to accrue on notes payable. Salaries and wages earned but not yet paid or recorded, $ Income tax for the year was $ It will be paid in CAlgo Part Required: Prepare a postclosing trial balance
CAlgo From Recording Transactions Including Adjusting Journal Entries to Preparing Financial Statements and Closing Journal Entries Chapters and LO LO LO LO LO LO LO LO
Skip to question
The following information applies to the questions displayed below.
Brothers Harry and Herman Hausyerday began operations of their machine shop H & H Tool, Incorporated on January The annual reporting period ends December The trial balance on January follows the amounts are rounded to thousands of dollars to simplify:
Account Titles Debit Credit
Cash $
Accounts Receivable
Supplies
Land
Equipment
Accumulated Depreciation $
Software
Accumulated Amortization
Accounts Payable
Notes Payable shortterm
Salaries and Wages Payable
Interest Payable
Income Tax Payable
Common Stock
Retained Earnings
Service Revenue
Salaries and Wages Expense
Depreciation Expense
Amortization Expense
Income Tax Expense
Interest Expense
Supplies Expense
Totals $ $
Transactions and events during summarized in thousands of dollars follow:
Borrowed $ cash on March using a shortterm note.
Purchased land on March for future building site; paid cash, $
Issued additional shares of common stock on April for $
Purchased software on July $ cash.
Received supplies on account on October for future use, $
Paid accounts payable on November $
Signed a $ service contract on November to start February
Recorded revenues of $ on December including $ on credit and $ collected in cash.
Recognized salaries and wages expense on December $ paid in cash.
Collected accounts receivable on December $
Data for adjusting journal entries as of December :
Unrecorded amortization for the year on software, $
Supplies counted on December $
Depreciation for the year on the equipment, $
Interest of $ to accrue on notes payable.
Salaries and wages earned but not yet paid or recorded, $
Income tax for the year was $ It will be paid in
CAlgo Part
Required:
Prepare a postclosing trial balance
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