(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 January 1, 2013. The annual reporting period ends December 31. The trial balance on January 1, 2015, follows (the amounts are rounded to thousands of dollars to simplify: Credit Debit $ 4 SOE 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 $99 $99 Transactions during 2015 (summarized in thousands of dollars) follow: 1. Borrowed $13 cash on a six-month note payable dated March 1, 2015 2. Purchased land for future building site, paid cash, $7. 3. Earned revenues for 2015, $164, including $42 on credit and $122 collected in cash. 4. Issued additional shares of stock for $2. 5. Recognized salaries and wages expense for 2015, $87 paid in cash. 6. Collected accounts receivable, $26. 7. Purchased software, $12 cash. 8. Paid accounts payable. $14. 3. Reluyilzeu solelles allu wages CAPCUSCIUL 201J, PUI Palu N LOSH. 6. Collected accounts receivable, $26. 7. Purchased software, $12 cash. 8. Pald accounts payable, $14. 9. Purchased supplies on account for future use, $17. 10. Signed a $30 service contract to start February 1, 2016. Data for adjusting journal entries: 11. Unrecorded amortization for the year on software, $7. 12. Supplies counted on December 31, 2015, $11. 13. Depreciation for the year on the equipment, $7. 14. Accrued interest of $2 on notes payable. 15. Salaries and wages earned but not yet paid or recorded, $11. 16. Income tax for the year was $9. It will be paid in 2016. value: 5.00 points 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions 1-10, adjusting entries 11-16, and closing entry. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Beg. Bal. Beg. Bal. 12 120 End. Bal. End. Bal. 45 Supplies Land Beg. Bal. Beg. Bal 18 End. Bal 101 End. Bal. Equipment Accumulated Depreciation Equipment Beg. Bal Beg Bal. End Ball End. Bal Software Accumulated Amortization Beg. Bal. Beg. Bal. pa ad Software Accumulated Amortization Beg. Bal. 1 Beg. Bal. 101 511. End. Bal. End. Bal. Accounts Payable Notes Payable Beg. Bal. Beg. Bal 0 121. End. Bal. 10 End. Bal. 12 Salaries and Wages Payable Interest Payable Beg. Bal. + Beg Bal. 12 (15. End. Bal. 12 End. Bal. Income Tax Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg Bal End. Bal. End. Bal Depreciation Expense Amortization Expense Beg Bal. Beg Bal. End. Bal. End. Bal. Depreciation Expense Amortization Expense Beg. Bal. Bey Beg. Bal. End. Bal End. Bal. Income Tax Expense Interest Expense Beg. Bal. Beg. Bal. End. Baldo End. Bal. Salaries and Wages Expense Supplies Expense Beg. Bal. Beg. Bal. I / / End. Bal. I L End. Bal. 3. Post the joumal entries from requirement 2 to T-accounts and prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) H & H TOOL, INC. Unadjusted Trial Balance (in thousands) Account Titles Debit Credit Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Interest Expense Income Tax Expense Totals 11 ITT TIL TI TIT 4. Record the adjusting journal entries (11) through (16). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet
