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help please ! 6 Required information C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2,
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! 6 Required information C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6) 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 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 $2 Accounts Receivable Supplies 13 Land Equipment 67 Accumulated Depreciation 55 Software 21 Accumulated Amortization Accounts Payable Notes Payable (short-term) 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 $ 109 $ 109 Transactions and events during 2021 (summarized in thousands of dollars) follow: e 7 4 @ e @ 84 9 e a. Borrowed 511 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site: paid cash, $8 c Issued additional shares of common stock on April 3 for $30 d. Purchased software on July 4, $11 cash e. Purchased supplies on account on October 5 for future use. $19 Paid accounts payable on November 6. $12 Step by Step Solution
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