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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 (
Required information
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:
Transactions and events during summarized in thousands of dollars follow:
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, $
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, $
L Supplies counted on December $
m 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
quired:
a Prepare an income statement.
b Prepare the statement of retained earnings.
c Prepare the balance sheet.
Complete this question by entering your answers in the tabs below.
Req A
Req
Req
Prepare the statement of retained earnings. Enter your answers in thousands of dollars.first two numbers on chart are wrong please help fixX
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