H&H Tool, Inc.

Trial Balance
Juanuary 1st, 2023

Account Titles DEBIT

Cash 6
Accounts Receivable 5
Supplies 13
Land
Equipment 78
Accumulated Depreciation (on Equipment)
Other Non-current Assets (Not Detailed to Simplify) 7
Accounts Payable
Wages Payable
Income Taxes Payable
Long-term Notes Payable
Common Stock (8 Million Shares, $0.50 Par Value, All Year)
Additional Paid-in Capital
Retained Earnings
Service Revenue
Depreciation Expense
Supplies Expense
Wages Expense
Interests Expense
Income Taxes Expense
Miscellaneous Expenses (Not Detailed to Simplify)

Total 109
 H&H Tool, Inc.
Journal 2023

Date Account Titles

CREDIT a Cash
Long-Term Note Pay x
b Cash
Additional Paid-in Capital
Common Stock x
c Land
8 Cash x
d Cash
Accounts Receivable
Service Revenue x
e Wages Expense
Miscellaneous Expenses
4 Cash
80 Accounts Payable x
17 f Cash
Acccounts Receivable x
g Other Non-current Assets
Cash x
h Supplies
Accounts Payable x
i Accounts Payable
 Cash x
j Dividends
109 Dividends Payable x
k No Journal entry
x
l Dividends Payable
Cash x

Adjusting Entries

Date Account Titles

Am Supplies Expense
Supplies x
An Depreciation Expense
Accumulated Depreciatx
Ao Interests Expense
Interests Payable x
Ap Wages Expense
Wages Payable x
Aq Income Tax Expense
Income Tax Payable x
 H&H Tool, Inc.
T-accounts

DEBIT CREDIT Assets

15
15 Cash
4 bal. 6 13 c
n Capital 2 a 15 94 e
2 b 4 15 g
13 d 163 26 i
13 f 34 25 l
163 k -
52 49
215
89
25 Supplies
94 bal. 13 22 Am
20 h 27
34 18
34
15
15 Equipment
27 bal. 78
27 78
26
 26
25 Other Non-current Assets
25 bal. 7
g 15
22
25
25

DEBIT CREDIT
22
22
10
10
1
1
16
16
11
11
Assets Liabilit

Accounts Receivable Accounts Payable

bal. 5 34 f i 26
d 52
23

Dividends Payable
l 25

Land
c 13 Long-term Notes Payable
13

Accumulated Depreciation Interests Payable

8 bal.
10 An
18
 Liability Sharehol

nts Payable Wages Payable Common Stock

20 e 16 Ap 4
27 h 16 2
21 6

nds Payable Income Tax Payable Retained Earnings

25 j 11 Aq 17
- 11 17

m Notes Payable Unearned Revenue Rev

15 a - k
15 - Service Revenue
215
215
sts Payable
1 Ao
1 Exp
 Supplies Expense
Am 22
22

Interests Expense
Ao 1
1

Depreciation Expense
An 10
10
Shareholders' Equity

Additional Paid-in Capital

bal. 80 bal.
b 2 b
82

Dividends
bal. j 25
25

Revenues

Expenses
 Wages Expense
e 89
Ap 16
105

Miscellaneous Expense
e 25
25

Income Taxes Expense

Aq 11
11
H&H Tool, Inc.
Trial Balance
December 31st, 2023

Account Titles DEBIT CREDIT

Cash 49
Accounts Receivable 23
Supplies 18
Land 13
Equipment 78
Accumulated Depreciation (on Equipment) 18
Other Non-current Assets (Not Detailed to Sim 22
Accounts Payable 21
Wages Payable 16
Dividends Payable -
Income Taxes Payable 11
Long-term Notes Payable 15
Unearned Revenue -
Interests Payable 1
Common Stock 6
Additional Paid-in Capital 82
Retained Earnings 17
Dividends 25
Service Revenue 215
Depreciation Expense 10
Supplies Expense 22
Wages Expense 105
Interests Expense 1
Income Taxes Expense 11
Miscellaneous Expenses (Not Detailed to Simp 25

Total 402 402

H&H Tool, Inc.
Income Statement
Period ended December 31st, 2023

Revenues:
Service Revenue 215

Expenses:
Depreciation Expense 10
Supplies Expense 22
Wages Expense 105
Interest Expense 1
Income Taxes Expense 11
Miscellaneous Expenses (Not Detailed to Sim 25
Total Expenses 174

Net Income 41
Earnings Per Share 3.42

H&H Tool, Inc.

Balance Sheet
Period ended December 31st, 2023
 Assets
Cash 49
Accounts Receivable 23
Supplies 18
Land 13
Equipment 78
Accumulated Depreciation (on Equipment) ### 60
Other Non-current Assets (Not Detailed to Simplify) 22

Total Assets 185

H&H Tool, Inc.
Statement of Retained Earnings
Period ended December 31st, 2023

Retained Earnings, January 1st, 2023 17

Add: Net Income for the Year 41
58

Less: Dividends (25)

Retained Earnings, December 31st, 202 33

 Liabilities
Accounts Payable 21
Wages Payable 16
Income Taxes Payable 11
Long-term Notes Payable 15
Unearned Revenue -
Interests Payable 1
Total Liabilities 64

Shareholders' Equity
Common Stock 6
Additional Paid-in Capital 82
Retained Earnings 33
Total Shareholders' Equity 121

Total Liabilities and Shareholders' E 185