Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1. 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): 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 Debit $ 4 Credit 4 11 0 65 $ 7 21 5 6 0 0 0 80 7 0 0 0 0 0 $ 105 $ 105 Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $13 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 $28. d. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 for future use, $17. f Paid accounts payable on November 6, $14. g. Signed a $30 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $170 on December 8, including $45 on credit and $125 collected in cash. Dornanized calariae and wanae avnance nn Deramhar a tan naid in each < Prev 9 6 7 8 9 of 10 Next >