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Please help correct the answers in red and the incomplete ones! I am stumped and need help with all of these. Required information [The following

Please help correct the answers in red and the incomplete ones! I am stumped and need help with all of these.

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Required information [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): Credit Debit $ 3 5 12 0 69 $ 6 24 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation 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 4 5 0 0 0 0 90 8 0 0 0 0 0 0 0 $113 $113 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 $23. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2019. h. Recorded revenues of $178 on December 8, including $49 on credit and $129 collected in cash. i. Recognized salaries and wages expense on December 9, $94 paid in cash. j. Collected accounts receivable on December 10, $33. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. 1. Supplies counted on December 31, 2018, $10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. 4. Record the adjusting journal entries (k) through (p). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 k. 4 Amortization Expense Accumulated Amortization 2 I. 30 Supplies Expense Supplies 30 x 3 m. 6 Depreciation Expense Accumulated Depreciation DO 6 4 n. 1 Interest Expense Interest Payable 1 5 0. 12 Salaries and Wages Expense Salaries and Wages Payable 12 6 p. 8 > Income Tax Expense Income Tax Payable 8 6-a. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Req 6A Req 6B Req 6C Prepare an income statement. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Income Statement For the Year Ended December 31, 2018 (in thousands) Revenues Service Revenue $ 178 Total Revenues 178 106 6 Expenses Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense 4 8 1 20 Total Expenses 145 Net Income $ 33 Reg 6A Req 6B > 6-a. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Req 6A Req 6B Req 6C Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.) H & H TOOL, INC. Statement of Retained Earnings For the Year Ended December 31, 2018 (in thousands) Balance, January 1, 2018 $ Add: Net Income 8 33 Less: Dividends 0 Balance, December 31, 2018 $ 41 Req 6A Reg 6B Req 6C Prepare the balance sheet. (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.) H & H TOOL, INC. Balance Sheet At December 31, 2018 (in thousands) Assets Liabilities Current Assets Current Liabilities Cash $ 74 $ 10 Accounts Receivable 12 21 10 Supplies Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable 12 1 8 Total Current Assets 105 43 Total Current Liabilities Stockholders' Equity Land 9 $ 69 $ 113 Common Stock Retained Earnings (12) 57 41 Equipment Accumulated Depreciation Software Accumulated Amortization 34 (8) 26 154 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets $ 197 $ 197 7. Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet Record entry to close revenue and expense accounts to retained earnings. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal 8. Post the closing entry from requirement 7 and prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Post-Closing Trial Balance Debit Credit (in thousands) Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals $ 0 $ 0 How much net income did H & H Tool, Inc., generate during 2018? What was its net profit margin? (Enter "Net Income" in thousands of dollars. Round "Net Profit Margin" to 1 decimal place.) Net Income $ 43,000 Net Profit Margin 24.2% What is its current ratio? (Enter your answers in thousands of dollars.) Current Ratio Numerator Current Assets $ 105 = 1.52 Denominator Current Liabilities $ 69

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