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Brothers Harry and Herman Hausyerday began operations of their machine shop ( H & H Tool, Incorporated ) on January 1 , 2 0 2
Brothers Harry and Herman Hausyerday began operations of their machine shop H & H Tool, Incorporated on January The annual reporting period ends December The trial balance on January follows the amounts are rounded to thousands of dollars to simplify: Account TitlesDebitCreditCash$ Accounts Receivable Supplies Land Equipment Accumulated Depreciation $ Software Accumulated Amortization Accounts Payable Notes Payable shorttermSalaries 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$ $ Transactions and events during summarized in thousands of dollars follow:Borrowed $ cash on March using a shortterm note.Purchased land on March for future building site; paid cash, $Issued additional shares of common stock on April for $Purchased software on July $ cash.Received supplies on account on October for future use, $Paid accounts payable on November $Signed a $ service contract on November to start February Recorded revenues of $ on December including $ on credit and $ collected in cash.Recognized salaries and wages expense on December $ paid in cash.Collected accounts receivable on December $Data for adjusting journal entries as of December :Unrecorded amortization for the year on software, $Supplies counted on December $Depreciation for the year on the equipment, $Interest of $ to accrue on notes payable.Salaries and wages earned but not yet paid or recorded, $Income tax for the year was $ It will be paid in Required:Prepare an unadjusted trial balance
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