Accounting Cydle Exercise Acc... Accounting Cycle Exercisex 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 Januery 1, 2013. The annual reporting period ends December 31. The trial balance on January 1,2015, follows the amounts are rounded to thousands of dolars to simplify) Account Titles Debit Credit S 3 Accounts Recelvable Supples Land Equipment Accumulated Depreclation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Saleries and Wages Expense Depreciation Expense Amortizabion Expense Income Tax Expense Interest Expense Supplies Expense 12 0 52 $ 6 0 0 0 67 8 0 0 0 Totals $94 $ 94 Transactions during 2015 (summarized in thousands of dollars) follow 1. Borrowed $12 cash on a six-month note payable dated March 1, 2015. 2. Purchased land for future building site; pald cash, $9 3. Earned revenues for 2015, $144, Including $32 on credit and $112 collected in cash. 4. Issued additional shares of stock for $3 5. Recognized salaries and wages expense for 2015, $77 paid in cash 6. Collected accounts recelveble, $16. 7. Purchaed software, $10 casth 8. Pald accounts payable, $13. 9. Purchased supplies on account for future use, $18. 10, Signed a $25 service contract to start February 1, 2016 Data for adjusting journal entries 11. Unrecorded amortization for the year on software, $8. 12. Supplies counted on December 31, 2015, $10 13. Depreciation for the year on the equipment, $6. 14 Accrued interest of $1 on notes payable. 15 Salaries and wages earned but not yet paid or recorded, $12 16. Income tax for the year was $8. It will be pald in 2016