Question

Required Informstion [The following infometion applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of their 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 simplfy Accant Iitla Dabit Credst Caah Acant Racaivable Suppiies 13 Land Igaipmant A alatd Dapristion Sastvers 15 Acmalated Amartizstion Accants Payabl ata aybl ahart-tam) Salarias nd Mages Payabl Intart Payl Incoma Tx Payable Caman Stock Ratained Earninga Sarvice Ravana Salariaand Megea Expanas Dapriatian Espans Amartizatian Expanss Inm Tax Expans Intarest Eapenas Supplia xpan 108 5100 Tatala Transactions and events during 2018 (aummarized In thousands of dollars) follow Barrawed $11 ceah on March 1 using a short-term note b. Purchaed land on March 2for future building site; paid cash, $8. c. asued addtionsl shares of common stock on April 3 for $24. d. Purchaedsoftware on July 4, $11 cash e. Purchased supples on account on October 5 for future use, $19. f Pald accounts payable on November 6, $12 g. Signed a $20 service contract on November 7 to start February 1, 2019. h.Recorded revenues of $190 on December 8, Including $50 on credt and $130 collected In cash. Recagnized salaries and wages expense on December 9, $95 pald in cash JCollected accounts recelvable on December 10, $34 Dats for adjusting journal entries as of December 3t k. Unrecorded amortization for the year on software, $5 Supples counted on December 31, 2018, $12 m. Depreclation for the year on the equipment, $5 nInterest of $1 to acerue on nates payable o. Salaries and weges earned but not yet pald or recorded, $13 p.Income tsx for the year was $7, It will be peld tn 2019.

The question doesn't come with adjusted trial balance just this sorry. Hope this still works

Answer 1

8.

H & H Tool Inc. Post-closing Trial Balance December 31, 2018 ( in thousands)
Account Titles	Debit	Credit
Cash	75
Accounts Receivable	22
Supplies	12
Land	8
Equipment	70
Accumulated Depreciation		10
Software	26
Accumulated Amortization		10
Accounts Payable		11
Notes Payable ( short term )		11
Salaries and Wages Payable		13
Interest Payable		1
Income Taxes Payable		7
Common Stock		107
Retained Earnings		43
Service Revenue		0
Salaries and Wages Expense	0
Supplies Expense	0
Depreciation Expense	0
Amortization Expense	0
Interest Expense	0
Income Tax Expense	0
Totals	213	213