-set up t accounts for a trial balance

-prepare an unadjusted trial balance

-record the adjusting journal entries

-post the adjusting entries from the last requirment and prepare and adjusted trial balance

-prepare an income statement

-prepare the statement of retained earnings

-prepare the balance sheet

-prepare the closing journal entry

-post the closing entry from the last requirement and prepare a post-closing trial balance

-how much net income did H&H tool inc generate during 2018? What was its net profit margin?

-is the company financed primarily by liabilties or stockholder's equity?

-what is its current ratio?

Required Information The following Information applies to the questions displayed below Brothers Harry and Herman Hausyerday began operations of thelr machine shop (H& H Tool, Inc) on January 1, 2016. The annual reporting perlod ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify Account Titles Cash Accounts Receivable Supplies Debit Credit 12 69 24 Accumulated Anortization Accounts Payable Notes Payable (short-term) Salaries and Hages Payable Interest Payable Income Tax Payable Conmon Stock Retained Earnings Service Revenue Salaries and Hages Expense Depreciation Expense Anortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 98 $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 bullding slte: pald 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 Pald accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2019. Recorded revenues of $178 on December 8. Including $49 on credit and $129 collected in cash. I Recognized salarles and wages expense on December 9, $94 pald In cash. J Collected accounts recevable on December 10. $33. Data for adjusting Journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. Supplies counted on December 31. 2018, $10. m Depreclation for the year on the equipment, $6. n Interest of $1 to accrue on notes payable o. Salarles and wages earned but not yet pald or recorded, $12 p. Income tax for the year was $8. It will be pald In 2019