Question

Required information [The following information applies to the questions clapeyed below) Brothers Harry and Herman Huberday began operations of the machine shop H&H Tool Inc.) on 20d annual reporting period endis December 31 The trial balance on January 2018. follows the amounts are rounded thousands of dollars to simply S nipping Tool LED Role Drag the cursor ar want to capture. Transactions and events during 2018 (summarized in thousands of dollars) follow. Borrowed $11 cash on March 1 using a short term note. b. Purchased and on March 2 for future building site; paid cash. $e. c. issued additional shares of common stock on April 3 for $24. d. Purchased software on July 4, $11 cash e. Purchased supplies on account on October 5 for future use, $19. Paid accounts payable on November 6, $12 Signed a $20 service contract on November 7 to start February 1, 2019 h. Recorded revenues of $190 on December 8, including $50 on credit and S130 collected In cash Recognized salaries and woges expense on December 9, S95 paid in cash. Collected accounts receivable on December 10, $34 Data for justing journal entries as of December 31 k Unrecorded amortization for the year on sovare, SS. Supplies counted on December 31 2018. $12 Depreciation for the year on the equipment. $5 interest of $1to scene on notes payable Salaries and wages earned but not yet paid or recorded. $13 Income tax for the year w $7 kw be paid in 2019 13. Sand & Setup Toccounts for the accounts on the trial balance. Enter beginning balances and post the transactions Austing entries and closing entry Enter your answers in thousands of dollars

Answer 1

A B C D E F Cash G H Interest Payable $2 Beg. $11 $12 $11 $24 $130 $34 $95 End. Income Tax Payable End. $75 Beg. Accounts Receivable Beg. $6 End 12 h $50 $34 Common Stock End. $22 Beg. $83 $24 Beg. Supplies $15 $19 1 End. $107 Retained Earnings 20 End $12 Beg. Land End. Beg. Service Revenue Beg. h $180 Equipment End. $180 Beg. $70 Salaries and Wages Expense End. $70 DO $95 $13 Accumulated Depreciation Beg. End $108 End Depreciation Expense re Beg. m Beg. Software $15 $11 End. $5 43 End. $26 Amortization Expense Beg. k $5 Accumulated Amortization Beg. k $5 End. $5 $10

A B C D E F G H I Accounts Payable Income Tax Expense 53 Beg. f. $12 e. $19 Beg. p $7 End. $11 End. $7 Notes Payable Interest Expense Beg. $0 $11 Beg. End. $11 End $1 Supplies Expense Salaries and Wages Payable Beg Beg. $13 End. $13 End $22

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