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using the information given can someone find the owner equity statement and liabilities and shareholders equity? Hassellhouf Company's trial balance at December 31, 2020, is
using the information given can someone find the owner equity statement and liabilities and shareholders equity?
Hassellhouf Company's trial balance at December 31, 2020, is as follows. All 2020 transactions have been recorded except for the items described following the trial balance. Credit Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Debit $26,000 35,000 8.400 0 36,300 3.900 Equipment 20,700 135,600 61,100 9.600 Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) Interest Payable Notes Payable (due after 2018) Owner's Capital Owner's Drawings Sales Revenue Interest Revenue S500 45,200 24 440 27.000 0 2,100 12.000 36,000 108.160 15,000 Rent Revenue 904,000 0 0 0 Bad Debts 0 639.000 0 Golob Gain on Disposal of Plant Assets Expense Cost of Goods Sold Depreciation Exper Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense 61.800 0 107.000 1 150 in 110 do 61.800 Other Operating Expenses Amortization Expense Salaries and Wages Expense Total 107.000 $1. 159.400 $1.159.400 Unrecorded transactions: 1 2 On May 1 2020, Hasselhouf purchased equipment for S16,800 plus sales taxes of $1.600 (all paid in cash). On July 1, 2020, Hasselhouf sold for $3,600 equipment which originally cost $5,000. Accumulated depreciation on this nsactions 1 2 3 4 8 On May 1, 2020, Hassellhouf purchased equipment for $16,800 plus sales taxes of $1,600 (all paid in cash). On July 1, 2020, Hasselhouf sold for $3,600 equipment which originally cost $5.000. Accumulated depreciation on this equipment at January 1, 2020. was $1,800.2020 depreciation prior to the sale of the equipment was $500 On December 31, 2020. Hasselhouf sold on account $5,400 of inventory that cost $3,300. Hasselhouf estimates that uncollectible accounts receivable at year-end is $3,800. The note receivable is a one-year, 8% note dated April 1.2020. No interest has been recorded. The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2020. The building is being depreciated using the straight-line method over 30 years. The salvage value is $33,000. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,600 The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date Unpaid salaries and wages at December 31, 2020, total $2,100. The unearned rent revenue of $2,100 was received on December 1, 2020. for 3 months rent. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the net 12 months. 9 10 11 12 13 (a) Your answer is partially correct Prepare journal entries for the transactions listed above. (Credit occount titles are automatically indented when amount is entered. Dann indentificent vindilecto Enterthemesandatafitheamus 12:27 AM 4/14/2021 Hassellhouf Company's trial balance at December 31, 2020, is as follows. All 2020 transactions have been recorded except for the items described following the trial balance. Credit Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Debit $26,000 35,000 8.400 0 36,300 3.900 Equipment 20,700 135,600 61,100 9.600 Patents Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) Interest Payable Notes Payable (due after 2018) Owner's Capital Owner's Drawings Sales Revenue Interest Revenue S500 45,200 24 440 27.000 0 2,100 12.000 36,000 108.160 15,000 Rent Revenue 904,000 0 0 0 Bad Debts 0 639.000 0 Golob Gain on Disposal of Plant Assets Expense Cost of Goods Sold Depreciation Exper Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Expense Salaries and Wages Expense 61.800 0 107.000 1 150 in 110 do 61.800 Other Operating Expenses Amortization Expense Salaries and Wages Expense Total 107.000 $1. 159.400 $1.159.400 Unrecorded transactions: 1 2 On May 1 2020, Hasselhouf purchased equipment for S16,800 plus sales taxes of $1.600 (all paid in cash). On July 1, 2020, Hasselhouf sold for $3,600 equipment which originally cost $5,000. Accumulated depreciation on this nsactions 1 2 3 4 8 On May 1, 2020, Hassellhouf purchased equipment for $16,800 plus sales taxes of $1,600 (all paid in cash). On July 1, 2020, Hasselhouf sold for $3,600 equipment which originally cost $5.000. Accumulated depreciation on this equipment at January 1, 2020. was $1,800.2020 depreciation prior to the sale of the equipment was $500 On December 31, 2020. Hasselhouf sold on account $5,400 of inventory that cost $3,300. Hasselhouf estimates that uncollectible accounts receivable at year-end is $3,800. The note receivable is a one-year, 8% note dated April 1.2020. No interest has been recorded. The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2020. The building is being depreciated using the straight-line method over 30 years. The salvage value is $33,000. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,600 The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date Unpaid salaries and wages at December 31, 2020, total $2,100. The unearned rent revenue of $2,100 was received on December 1, 2020. for 3 months rent. Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the net 12 months. 9 10 11 12 13 (a) Your answer is partially correct Prepare journal entries for the transactions listed above. (Credit occount titles are automatically indented when amount is entered. Dann indentificent vindilecto Enterthemesandatafitheamus 12:27 AM 4/14/2021Step by Step Solution
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