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please complete journal entrys 1-6! Brothers Harry and Herman Hausyerday began operations of their machine shop ( H&H Tool, Incorporated) on January 1 , 2020.
please complete journal entrys 1-6!
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 $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8. c. Issued additional shares of common stock on April 3 for $30. d. Purchased software on July 4,$11 cash. e. Purchased supplies on account on October 5 for future use, $19 f. Paid accounts payable on November 6,$12. g. Signed a $20 service contract on November 7 to start February 1,2022 h. Recorded revenues of $148 on December 8 , including $34 on credit and $114 collected in cash. 1. Recognized salaries and wages expense on December 9.$79 paid in cash. j. Collected accounts receivable on December 10.$18. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $6. 1. Supplies counted on December 31,2021,$12. m. Depreciation for the year on the equipment, $5. A. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $11. D Income tax for the year was $7, It will be paid in 2022 . 1 Record $11 cash borrowed on March 1 using a short-term note. Record land purchased on March 2 for future building site; paid cash, $8. Record additional shares of common stock issued on April 3 for $30. Record software purchased on July 4,$11 cash. Record supplies purchased on account on October 5 for future use, $19. Record accounts payable paid on November 6,$12. cord $11 cash borrowed on March 1 using a short-term note. Enter debits before credits Step by Step Solution
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