Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the...
Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions 1-10, adjusting entries 11-16, and closing entry. (Enter your answers in thousands of dollars) CLUuring Cycle exercise Questions 1 - 9 of 9) ► Save & E [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, 2013. The annual reporting period ends December 31....
Set up T-accounts for the accounts on the trial balance. Account Titles Debit Credit Cash $ 2 Accounts Receivable 6 Supplies 13 Land 0 Equipment 54 Accumulated Depreciation $ 5 Software 21 Accumulated Amortization 6 Accounts Payable 4 Notes Payable (short-term) 0 Salaries and Wages Payable 0 Interest Payable 0 Income Tax Payable 0 Common Stock 72 Retained Earnings 9 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense...
please help me set up the post-closing trial balance. 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 $ 2 6 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short- term) Salaries and...
a. Prepare an income statement. b. Prepare the statement of retained earnings. c. Prepare the balance sheet. Transactions and events during 2018 (summarized in thousands of dollars) follow: A. Borrowed S13 cash on March 1 using a short-term note. B. Purchased land on March 2 for future building site; paid cash, $7. C. Issued additional shares of common stock on April 3 for $25. D. Purchased software on July 4, S12 cash. E. Purchased supplies on account on October 5...
Prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) Required information The following information applies to the questions displayed below Intemational celebrity Jay and Goku began operations of their machine shop (J& G 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): Account Titles Debit Credit Cash $4 Accounts Receivable 4 Supplies I1 Land Equipment...
1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions (a)-(j), adjusting entries (k)-(p), and closing entry. (Enter your answers in thousands of dollars.) 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...
Record the adjusting journal entries (k) through (p). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) Post the adjusting entries and prepare an adjusted trial balance. (Enter your answers in thousands of dollars.) Required information The following information applies to the questions displayed below) Intemational celebrity Jay and Goku began operations of their machine shop (J&G Tool, Inc.) on January 1, 2016. The...
a. How much net income did J & G Tool, Inc., generate during 2018? What was its net profit margin? b. Is the company financed primarily by liabilities or stockholders’ equity? c. What is its current ratio? Required information The following information applies to the questions displayed below) Intemational celebrity Jay and Goku began operations of their machine shop (J&G Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018,...
Post the journal entries to T-accounts and prepare an unadjusted trial balance Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify. Account Titles Debit Credit Cash $ 6 Accounts Receivable 2 Supplies 2 Equipment 9 Accumulated Depreciation $ 2 Software 7...
prepare a post-closing trial balance. Account Titles Debit Credit Cash $ 2 Accounts Receivable 6 Supplies 13 Land 0 Equipment 54 Accumulated Depreciation $ 5 Software 21 Accumulated Amortization 6 Accounts Payable 4 Notes Payable (short-term) 0 Salaries and Wages Payable 0 Interest Payable 0 Income Tax Payable 0 Common Stock 72 Retained Earnings 9 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense 0 Supplies Expense 0 Totals...