Question

Required information C4-2 From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) (LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6) [The following information 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 period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit $ 4 4 11 0 59 $ 7 14 6 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 0 66 7 0 0 0 0 0 $92 $92

Answer 1

Date Particulars 1-Jan To Balance b/d 1-Mar To Short term note A/C 3-Apr To Common Stock Cash A/C Amount($) Date 4 13 25 Particulars 2-Mar By Land 4-Jul By Software 6-Nov By Accounts Payable By Salary & Wage expense 9-Dec A/C 31-Dec Balance C/d Amount($) 7 12 14 8-Dec. To Revenue A/C 10-Dec To Accounts Recievable a/c 119 23 184 84 67 184 Date Particulars come Summary Revenue A/C Amount($) Date 158 Particulars 3-Dec By Cash 8-Dec By Accounts Receivable Amount($) 119 39 158 158 Date Particulars 9-Dec To Cash 31-Dec To Salary Payable Salaries & Wage Expense Alc Amount($) Date 84 12 Particulars 31-Dec By Income Summary Amount($) 96 96 96 Date Particulars 31-Dec To Accumulated Amortization A/C Amortization expense Alc Amount($) Date 6 Particulars 31-Dec By Income Summary Amount($) 6 Depreciation expense A/C Amount($) Date Amount($) Date Particulars 31-Dec To Accumulated Depreciation A/c Particulars 31-Dec By Income Summary Date Particulars 31-Dec To Balance c/d Salaries Payable A/C Amount($) Date 12 Particulars 31-Dec By Salary & wage Expense Amount($) 12 12 12 Particulars Amount($) Income Summary Date Particulars 31-Dec By Salary & wage Expense Amount($) 12

Date Particulars 1-Jan To Balance b/d 5-Oct To Accounts Payable Amount($) 17 Date Particulars 2-Mar To Cash Suplies A/C Amount($) Date Particulars 11 31-Dec By Income Summary 17 (balancing fig) 31-Dec By Balance C/d 28 Land A/C Amount($) Date Particulars 7 31-Dec By Balance C/d Amount($) 7 11 28 7 Accumulated Depreciation Amount($) Date Particulars 14 1-Jan By Balance b/d 31-Dec By Depreciation expense A/C Date Particulars 31-Dec Balance C/d Amount($) Date Particulars 1-Jan To balance b/d 4-Jul To Cash Software Amount($) Date Particulars 14 31-Dec By Balance C/d 12 Amount($) 26 14 14 26 26 Amount($) Date Particulars 6-Nov To Cash 31-Dec By Balance C/d Accounts Payable Amount($) Date Particulars 14 1-Jan By Balance b/d 9 5-Oct By Supplies Date Particulars 31-Dec By Balance C/d Common Stock Amount($) Date Particulars 91 1-Jan By Balance b/d 3-Apr By Cash 6 Amount($) 66 25 17 23 23 91 91 Date Particulars 31-Dec To Balance C/d Short term Note A/C Amount($) Date Particulars 13 1-Mar By Cash Amount($) 13 13 13 Date Particulars 31-Dec To Balance C/d Interest Payable A/C Amount($) Date Particulars 2 31-Dec By Interest Expense Amount($) 2 2 Date Particulars 31-Dec To Balance C/d Income Tax Payable A/S Amount($) Date Particulars 9 31-Dec By Income Tax Expense A/C Amount($) 9 9 9

Date Particulars 1-Jan To Balance b/d 8-Dec To Revenue A/C Accounts Receivable A/C Amount($) Date Particulars 10-Dec By Cash 39 31-Dec By Balance C/d Amount($) 23 20 43 43 Date Particulars 1-Jan To Balance b/d Equipment Amount($) Date Particulars 591 31-Dec By Balance C/d Amount($) 59 59 59 Date Particulars 31-Dec To Balance C/d Amount($) Accumulated Amortization Amount($) Date Particulars 12 1-Jan By balance b/d 31-Dec By Amortization expense A/C 12 12 Amount($) Date Particulars 31-Dec To Balance C/d Retained Earnings Amount($) Date Particulars 28 1-Jan By balance b/d 31-Dec By Income Summary ( Net Income) 21 28 28 Date Interest Expense A/C Amount($) Date Particulars 31-Dec By Income Summary Particulars 31-Dec To Interest PayableA/c Amount($) Income Tax Expense A/S Amount($) Date Particulars 31-Dec By Income Summary Date Particulars 31-Dec To Income Tax Payable A/c Amount($) Income Summary Particulars Amount($) Asmonut($) Revenue 158 Less : Supplies 17 Salary & Wage Expenses 96 Amortization expense 6 Depreciation Expense 7 Interest 2 Income Tax Expense 9 Net Income 21
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