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C 4 - 2 ( Algo ) From Recording Transactions ( Including Adjusting Journal Entries ) to Preparing Financial Statements and Closing Journal Entries (

C4-2(Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2,3, and 4)[LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6]
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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 period ends December 31. The trial balance on January 1,2021, follows (the amounts are rounded to thousands of dollars to simplify):
Account Titles Debit Credit
Cash $ 3
Accounts Receivable 5
Supplies 12
Land 0
Equipment 69
Accumulated Depreciation $ 6
Software 24
Accumulated Amortization 4
Accounts Payable 5
Notes Payable (short-term)0
Salaries and Wages Payable 0
Interest Payable 0
Income Tax Payable 0
Common Stock 90
Retained Earnings 8
Service Revenue 0
Salaries and Wages Expense 0
Depreciation Expense 0
Amortization Expense 0
Income Tax Expense 0
Interest Expense 0
Supplies Expense 0
Totals $ 113 $ 113
Transactions and events during 2021(summarized in thousands of dollars) follow:
Borrowed $12 cash on March 1 using a short-term note.
Purchased land on March 2 for future building site; paid cash, $9.
Issued additional shares of common stock on April 3 for $23.
Purchased software on July 4, $10 cash.
Received supplies on account on October 5 for future use, $18.
Paid accounts payable on November 6, $13.
Signed a $25 service contract on November 7 to start February 1,2022.
Recorded revenues of $178 on December 8, including $49 on credit and $129 collected in cash.
Recognized salaries and wages expense on December 9, $94 paid in cash.
Collected accounts receivable on December 10, $33.
Data for adjusting journal entries as of December 31:
Unrecorded amortization for the year on software, $4.
Supplies counted on December 31,2021, $10.
Depreciation for the year on the equipment, $6.
Interest of $1 to accrue on notes payable.
Salaries and wages earned but not yet paid or recorded, $12.
Income tax for the year was $8. It will be paid in 2022.
C4-2(Algo) Part 3
Required:
Prepare an unadjusted trial balance. (Enter your answers in thousands of dollarC4-2(Algo) Part 3
Required:
Prepare an unadjusted trlal balance. (Enter your answers In thousands of dollars.)s.)
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