comp q 7

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 $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. Purrhacen enttware in fitu. 4 \$12 rach 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. 1. Recognized salaries and wages expense on December 9$99 paid in cash. j. Collected accounts recelvable on December 10,$29. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31. 2021. \$11. m. Depreciation for the year on the equipment, $7 n. Interest of $2 to accrue on notes payable o. Salaries and wages earned but not yet paid of recorded, $11. p. Income tax for the year was $9. It will be paid in 2022 C4-2 (Algo) T accounts Required: T occounts. Enter beginning balances and post journal entries from Part 2, the adjusting Journal entries from Part 4, and the entry from Part 7. (Enter your answers in thousands of dollars.) Required intomation Comman Stock Servico Revenue Required information 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 $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. Purrhacen enttware in fitu. 4 \$12 rach 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. 1. Recognized salaries and wages expense on December 9$99 paid in cash. j. Collected accounts recelvable on December 10,$29. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31. 2021. \$11. m. Depreciation for the year on the equipment, $7 n. Interest of $2 to accrue on notes payable o. Salaries and wages earned but not yet paid of recorded, $11. p. Income tax for the year was $9. It will be paid in 2022 C4-2 (Algo) T accounts Required: T occounts. Enter beginning balances and post journal entries from Part 2, the adjusting Journal entries from Part 4, and the entry from Part 7. (Enter your answers in thousands of dollars.) Required intomation Comman Stock Servico Revenue Required information