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Brothers Harry and Herman Hausyerday began operations of their machine shop ( H & H Tool, Incorporated) on January 1 , 2020. The annual reporting
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): Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. c. Issued additional shares of common stock on April 3 for $32. d. Purchased software on July 4,$10 cash. e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on November 6,$13. g. Signed a \$25 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $144 on December 8, including $32 on credit and $112 collected in cash. i. Recognized salaries and wages expense on December 9 , $77 paid in cash. j. Collected accounts receivable on December 10,$16. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $8. I. Supplies counted on December 31, 2021, \$10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. m. vepreciation tor the year on the equipment, $. n. Interest of \$1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax for the year was \$8. It will be paid in 2022. Required: 5. Prepare an adjusted trial balance. (Enter your answers in thousands of dollars.)
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