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can someone find the trial balance, income statement, retained earnings statement and balance sheet using the following photos Hassellhouf Company's trial balance at December 31,
can someone find the trial balance, income statement, retained earnings statement and balance sheet using the following photos
Hassellhouf 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. Credit Cash Debit $26,000 35,000 8,400 0 Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings 36,300 3,900 20,700 135,600 61,100 9,600 $500 45,200 45,200 24,440 27,000 0 2,100 12,000 0 36,000 108,160 Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) Interest Payable Notes Payable (due after 2018) Owner's Capital Owner's Drawings Sales Revenue Interest Revenue Rent Revenue Gain on Disposal of Plant Assets Bad Debts Expense Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense Other Operating Expenses 15,000 904,000 0 639,000 0 0 0 61,800 Unrecorded transactions: 1. 2. 3. 4. 5. 6. On May 1, 2020, Hassellhouf purchased equipment for $16,800 plus sales taxes of $1,600 (all paid in cash). On July 1, 2020, Hassellhouf sold for $3,600 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2020, was $1,800; 2020 depreciation prior to the sale of the equipment was $500. On December 31, 2020, Hassellhouf sold on account $5,400 of inventory that cost $3,300. Hassellhouf estimates that uncollectible accounts receivable at year-end is $3,800. The note receivable is a one-year, 8% note dated April 1, 2020. No interest has been recorded. The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2020. The building is being depreciated using the straight-line method over 30 years. The salvage value is $33,000. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,600. The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. 7. 8. 9. 10. 00001ptha00 10. 3 years, with a 11 12 The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. Unpaid salaries and wages at December 31, 2020, total $2,100. The unearned rent revenue of $2,100 was received on December 1, 2020, for 3 months' rent. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months. 13. Hassellhouf 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. Credit Cash Debit $26,000 35,000 8,400 0 Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings 36,300 3,900 20,700 135,600 61,100 9,600 $500 45,200 45,200 24,440 27,000 0 2,100 12,000 0 36,000 108,160 Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) Interest Payable Notes Payable (due after 2018) Owner's Capital Owner's Drawings Sales Revenue Interest Revenue Rent Revenue Gain on Disposal of Plant Assets Bad Debts Expense Cost of Goods Sold Depreciation Expense Insurance Expense Interest Expense Other Operating Expenses 15,000 904,000 0 639,000 0 0 0 61,800 Unrecorded transactions: 1. 2. 3. 4. 5. 6. On May 1, 2020, Hassellhouf purchased equipment for $16,800 plus sales taxes of $1,600 (all paid in cash). On July 1, 2020, Hassellhouf sold for $3,600 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2020, was $1,800; 2020 depreciation prior to the sale of the equipment was $500. On December 31, 2020, Hassellhouf sold on account $5,400 of inventory that cost $3,300. Hassellhouf estimates that uncollectible accounts receivable at year-end is $3,800. The note receivable is a one-year, 8% note dated April 1, 2020. No interest has been recorded. The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2020. The building is being depreciated using the straight-line method over 30 years. The salvage value is $33,000. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,600. The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. 7. 8. 9. 10. 00001ptha00 10. 3 years, with a 11 12 The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date. Unpaid salaries and wages at December 31, 2020, total $2,100. The unearned rent revenue of $2,100 was received on December 1, 2020, for 3 months' rent. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months. 13Step by Step Solution
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