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How do you solve this ? correct answers only please 18 (The following information applies to the questions displayed below) Brothers Harry and Herman Hausyerday
How do you solve this ? correct answers only please
18 (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 6 Supplies 13 Land 0 Equipment 64 Accumulated Depreciation $ 5 Software 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 $ 103 $ 103 4 4 0 81 9 0 0 0 0 0 Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; pald cash $8. c. Issued additional shares of common stock on April 3 for $27. 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. 9. Signed a $20 service contract on November 7 to start February 1, 2022 h Recorded revenues of $168 on December 8, including $44 on credit and $124 collected in cash. i Recognized salaries and wages expense on December 9, $89 paid in cash. J. Collected accounts receivable on December 10, $28. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. Supplies counted on December 31, 2021, $12. m. Depreciation for the year on the equipment, $5. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $13. p. Income tax for the year was $7. It will be paid in 2022. Cash Accounts Receivable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Supplies Land Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Equipment Credit Accumulated Depreciation Debit Beginning Balance Debit Beginning Balance Credit Ending Balance Ending Balanco Software Debit Credit Accumulated Amortization Debit Beginning Balance Credit Beginning Balance Ending Balance Ending Balance Accounts Payable Notes Payable (short-term) Required information Accounts Payable 9 Credit Notes Payable (short-term) Debit Beginning Balance Debit Beginning Balance Credit Ending Balance Ending Balance Interest Payable Credit Salaries and Wages Payable Debit Credit Beginning Balance Dobit Beginning Balance ces Ending Balance Ending Balance Income Tax Payable Common Stock Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Retained Earnings Service Revenue Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Salaries and Wages Expense Debit Credit Beginning Balance Depreciation Expense Debit Beginning Balance Credit Coin DAAR Codinn Dannen Income Tax Expense Credit Credit Amortization Expense Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Interest Expense Supplies Expense Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Step by Step Solution
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