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Required information [The following information applies to the questions displayed below.] Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called
Required information [The following information applies to the questions displayed below.] Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2020. The annual reporting period ends December 31 . The trial balance on January 1, 2021, was as follows (the amounts are rounded to thousands of dollars to simplify): Transactions during 2021 (summarized in thousands of dollars) follow: Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed $31 cash on July 1,2021 , signing a six-month note payable. b. Purchased equipment for $34 cash on July 2,2021 . c. Issued additional shares of common stock for $5 on July 3 . d. Purchased software on July 4,$3 cash. e. Purchased supplies on July 5 on account for future use, $7. f. Recorded revenues on December 6 of $64, including $8 on credit and $56 received in cash. g. Recognized salaries and wages expense on December 7 of $39; paid in cash. h. Collected accounts receivable on December 8, $9. 1. Paid accounts payable on December 9,$10. j. Received a $3 cash deposit on December 10 from a hospital for a contract to start January 5, 2022. Data for adjusting journal entries on December 31: k. Amortization for 2021,$3. 1. Supplies of $3 were counted on December 31, 2021. m. Depreciation for 2021, \$4. n. Accrued interest of $1 on notes payable. a. Salaries and wages incurred but not yet paid or recorded, $3. p. Income tax expense for 2021 was $4 and will be paid in 2022 . 8. Prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) Required information
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