Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PLEASE HELP DUE TONIGHT!! ALL PART OF QUESTION 1 - 8 ! ! C 4 - 2 ( Algo ) From Recording Transactions ( Including
PLEASE HELP DUE TONIGHT!! ALL PART OF QUESTION CAlgo From Recording Transactions Including Adjusting Journal Entries to Preparing
Financial Statements and Closing Journal Entries Chapters and LO LO LO
LO LO LO LO LO
The following information applies to the questions displayed below.
Brothers Harry and Herman Hausyerday began operations of their machine shop & Tool, Incorporated
on January The annual reporting period ends December The trial balance on January
follows the amounts are rounded to thousands of dollars to simplify:
a Borrowed $ cash on March using a shortterm note.
b Purchased land on March for future building site; paid cash, $
c Issued additional shares of common stock on April for $
d Purchased software on July $ cash.
e Received supplies on account on October for future use, $
f Paid accounts payable on November $
g Signed a $ service contract on November to start February
h Recorded revenues of $ on December including $ on credit and $ collected in cash.
i Recognized salaries and wages expense on December $ paid in cash.
j Collected accounts receivable on December $
Data for adjusting journal entries as of December :
k Unrecorded amortization for the year on software, $
I. Supplies counted on December $
Depreciation for the year on the equipment, $
Interest of $ to accrue on notes payable.
o Salaries and wages earned but not yet paid or recorded, $
p Income tax for the year was $ It will be paid in adjusted trial balance.
QUESTION THAT NEED ANSWERS PARTS BELOW
Record journal entries for transactions a through j
Prepare an unadjusted trial balance.
Record the adjusting journal entries k through pPrepare an adjusted trial balance.
a Prepare an income statement.
b Prepare the statement of retained earnings.
c Prepare the balance sheet.
Prepare the closing journal entry
Make T accounts. Enter beginning balances and post journal entries from Part the adjusting journal entries from part and the closing entry from part
Prepare a post closing trial balance.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started