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help! need all answers! 0 60 bok 15 ences 5 0 0 0 0 Brothers Harry and Herman Hausyerday began operations of their machine shop
help! need all answers!
0 60 bok 15 ences 5 0 0 0 0 Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify: Account Titles Debit Credit Cash $ 3 Accounts Receivable 5 Supplies 12 Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable short-term) Salaries and Wages Payable Interest Payable Thcome Tax Payable Common Stock 71 Retained Earnings Service Revenue salaries and Wages Expense Depreciation Expense Anortisation Expense Income Tax Expense Interest Expense Supplies Expense 0 Totale 5.95 5 95 Transactions and events during 2021 (summarized in thousands of dollars) follow a Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. c.Issued additional shares of common stock on April 3 for $23 d. Purchased software on July 4, $10 cash e Purchased supplies on account on October 5 for future use. $18 Pald accounts payable on November 6, $13 9. Signed a $25 service contract on November 7 to start February 1, 2022 D 0 0 O Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash. $9. c. Issued additional shares of common stock on April 3 for $23. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, $18. 4 Paid accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $160 on December 8, including $40 on credit and $120 collected in cash. 1. Recognized salaries and wages expense on December 9, $85 paid in cash. J. Collected accounts receivable on December 10, $24. Data for adjusting journal entries as of December 31 k. Unrecorded amortization for the year on software, $5. Supplies counted on December 31, 2021, $10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet pald or recorded, $12. p. Income tax for the year was $8. It will be paid in 2022 (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100)). Ledger Requirement General General Statement of Income Journal Trial Balance Retained Statement Balance Sheet Analysis Earnings Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs Step by Step Solution
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