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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
a How much net income did H&H Tool, Incorporated, generate during What was its net porfit margin?
b Is the company financed primarily by liabilities or stockholders' equity?
c What is its current ratio?
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