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solve in proper tables make tables please dont write it in word document make table for amounts please begin{tabular}{llll} 21 & Contributed capital (65,000 shares)
solve in proper tables make tables please dont write it in word document make table for amounts please \begin{tabular}{llll} 21 & Contributed capital (65,000 shares) & 65,000 \\ 31 & Retained earnings & 8,000 \\ 35 & Service revenue & \\ 40 & Depreciation expense & \\ 41 & Income tax expense & \\ 42 & Interest expense & \\ 43 & Other expenses & & \\ & Totals & $84,000 & $84,000 \end{tabular} Brothers Anthony and Christopher Gaber began operations of their tool and die shop (A \& C Tools Inc.) on January 1, 2022. T company's fiscal year ends on December 31. The closing trial balance on December 31, 2022, follows: 1. Set up T-accounts for the accounts on the trial balance and enter their beginning balances. 2. Record transactions (a) through (k) and post them to the Taccounts. 3. Record and post the adjusting entries (I) through (p). 4. Prepare a statement of earnings (including earnings per share), a statement of changes in equity for 2023, and a statement of financial position at December 31, 2023. 5. Record and post the closing entries. 6. Prepare a post-closing trial balance. 7. Compute the following ratios for 2023 and explain what they mean: a Current ratio b. Total asset turnover ratio c. Net profit margin ratio d. Return on equity a. Borrowed $10,000 cash on a 6 percent note payable, dated March 1, 2023. b. Purchased land for future building site; paid cash, $9,000. c. Earned revenues for 2023 of $160,000, including $50,000 on credit. d. Sold 3,000 additional shares for $1 cash per share. e. Recognized other expenses for 2023,$85,000, including $20,000 on credit. f. Collected accounts receivable, $24,000. g. Purchased additional assets, $10,000 cash (debit other assets account). h. Paid accounts payable, $13,000. 1. Purchased service supplies on account, $18,000 (debit to Account No. 03). j. Signed a \$25.000 service contract to start February 1, 2024. k Declared and paid cash dividend, $15,000. Data for adjusting entries are as follows: / Service supplies inventory on hand at December 31, 2023,\$12.000 (debit other expenses account). m. Depreciation on the equipment estimated at $6,000 per year. 11. Accrued interest on notes payable (to be computed). o. Wages earned since the December 24 pay date but not yet paid, $15,000. p. Income tax expense for 2023 payable in 2024,$8,000. \begin{tabular}{llll} 21 & Contributed capital (65,000 shares) & 65,000 \\ 31 & Retained earnings & 8,000 \\ 35 & Service revenue & \\ 40 & Depreciation expense & \\ 41 & Income tax expense & \\ 42 & Interest expense & \\ 43 & Other expenses & & \\ & Totals & $84,000 & $84,000 \end{tabular} Brothers Anthony and Christopher Gaber began operations of their tool and die shop (A \& C Tools Inc.) on January 1, 2022. T company's fiscal year ends on December 31. The closing trial balance on December 31, 2022, follows: 1. Set up T-accounts for the accounts on the trial balance and enter their beginning balances. 2. Record transactions (a) through (k) and post them to the Taccounts. 3. Record and post the adjusting entries (I) through (p). 4. Prepare a statement of earnings (including earnings per share), a statement of changes in equity for 2023, and a statement of financial position at December 31, 2023. 5. Record and post the closing entries. 6. Prepare a post-closing trial balance. 7. Compute the following ratios for 2023 and explain what they mean: a Current ratio b. Total asset turnover ratio c. Net profit margin ratio d. Return on equity a. Borrowed $10,000 cash on a 6 percent note payable, dated March 1, 2023. b. Purchased land for future building site; paid cash, $9,000. c. Earned revenues for 2023 of $160,000, including $50,000 on credit. d. Sold 3,000 additional shares for $1 cash per share. e. Recognized other expenses for 2023,$85,000, including $20,000 on credit. f. Collected accounts receivable, $24,000. g. Purchased additional assets, $10,000 cash (debit other assets account). h. Paid accounts payable, $13,000. 1. Purchased service supplies on account, $18,000 (debit to Account No. 03). j. Signed a \$25.000 service contract to start February 1, 2024. k Declared and paid cash dividend, $15,000. Data for adjusting entries are as follows: / Service supplies inventory on hand at December 31, 2023,\$12.000 (debit other expenses account). m. Depreciation on the equipment estimated at $6,000 per year. 11. Accrued interest on notes payable (to be computed). o. Wages earned since the December 24 pay date but not yet paid, $15,000. p. Income tax expense for 2023 payable in 2024,$8,000
solve in proper tables make tables please dont write it in word document make table for amounts please
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