of 9 nat Required Information C4-2 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, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 3 Accounts Receivable 5 Supplies 12 Land 0 Equipment 63 Accumulated Depreciation Software 18 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 $101 $101 nces ODOU 0 0 74 OOOOOO DI 3021RACIO in DO CALCOLLEDE Romheducation.com ing Cycle Project 01 Bered UPPALEHT Total $101 3101 DOM Transactions and events during 2018 (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 $26. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, 518 Pald accounts payable on November 6, $13 g. Signed a $25 service contract on November 7 to start February 1, 2019 h. Recorded revenues of $166 on December 8, including 543 on credit and $123 collected in cash. 2. Recognized salaries and wages expense on December 9, $88 paid in cash J. Collected accounts receivable on December 10, $27. Data for adjusting journal entries as of December 31 k Unrecorded amortization for the year on software, $8. Supplies counted on December 31, 2018, $10 m. Depreciation for the year on the equipment, 56, n. Interest of $1 to accrue on notes payable o Salaries and wages eamed but not yet paid or recorded. $12. Income tax for the year was $8. It will be paid in 2019 ences C4-2 Part 6 6-a. Prepare an income statement 5-6. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet MacBook Air go IS A * 2 # 3 % 5 4 & 7 6 B 8 of 9 nat Required Information C4-2 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, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 3 Accounts Receivable 5 Supplies 12 Land 0 Equipment 63 Accumulated Depreciation Software 18 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 $101 $101 nces ODOU 0 0 74 OOOOOO DI 3021RACIO in DO CALCOLLEDE Romheducation.com ing Cycle Project 01 Bered UPPALEHT Total $101 3101 DOM Transactions and events during 2018 (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 $26. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, 518 Pald accounts payable on November 6, $13 g. Signed a $25 service contract on November 7 to start February 1, 2019 h. Recorded revenues of $166 on December 8, including 543 on credit and $123 collected in cash. 2. Recognized salaries and wages expense on December 9, $88 paid in cash J. Collected accounts receivable on December 10, $27. Data for adjusting journal entries as of December 31 k Unrecorded amortization for the year on software, $8. Supplies counted on December 31, 2018, $10 m. Depreciation for the year on the equipment, 56, n. Interest of $1 to accrue on notes payable o Salaries and wages eamed but not yet paid or recorded. $12. Income tax for the year was $8. It will be paid in 2019 ences C4-2 Part 6 6-a. Prepare an income statement 5-6. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet MacBook Air go IS A * 2 # 3 % 5 4 & 7 6 B 8