Required information (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, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Credit Account Titles Cash Accounts Receivable Debit $ 3 5 12 Supplies 69 Land Equipment Accumulated Depreciation Software was Accumulated Amortization $ 6 24 4 Accounts Payable Notes Payable (short-term) Payable Payable 0 0 90 8 Salaries and Wages Payable Interest nere Income Tax Suome Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 0 0 0 0 0 0 0 $113 $113 Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. c. Issued additional shares of common stock on April 3 for $23. d. Purchased software on July 4, $10 cash. e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2019. h. Recorded revenues of $178 on December 8, including $49 on credit and $129 collected in cash. i. Recognized salaries and wages expense on December 9, $94 paid in cash. j. Collected accounts receivable on December 10, $33. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. 1. Supplies counted on December 31, 2018, $10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax for the year was $8. It will be paid in 2019. . Prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) Credit H & H TOOL, INC. Unadjusted Trial Balance For the Year Ended December 31, 2018 (in thousands) Account Titles Debit Cash $ 3 Accounts Receivable 5 Supplies Land Equipment Accumulated Depreciation Software II. 3. Prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) Credit H&H TOOL, INC. Unadjusted Trial Balance For the Year Ended December 31, 2018 (in thousands) Account Titles Debit Cash $ 3 Accounts Receivable 5 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 $ 8 0 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions (a)-0), adjusting entries (k)-(p), and closing entry. (Enter your answers in thousands of dollars.) Answer is not complete. Cash Accounts Receivable 5 Beg. Bal. Beg. Bal. 3 12 (a) lo 3310) 9(b) 10l(d) OIL (h) 129 End. Bal. 28 9410 ON End. Bal. 31 Land 0 Beg. Bal. (e) (1) Supplies 12 18 10 X Beg. Bal. (b) 9 x End. Bal. 40 End. Bal. 9 Equipment 69 Beg. Bal. Beg. Bal. Accumulated Depreciation 6 6 (m) End. Bal. 69 End. Bal. 12 Software Accumulated Amortization Beg. Bal. Beg. Bal. 4 24 10 (d) 4(k) 4 (K) x End. Bal. 30 End. Bal. 8 Beg. Bal. Beg. Bal. Accounts Payable 5 18(e) 13 ON Notes Payable (short-term) 0 12(a) 1 (m) X (f) End. Bal. 10 End. Bal. 13 Interest Payable Beg. Bal. Salaries and Wages Payable 0 120) Beg. Bal. 0 lo 1 (m) x End. Bal. 12 End. Bal. 1 Common Stock Beg. Bal. Income Tax Payable 0 8 (p) Beg. Bal. lo 90 23 (c) End. Bal. 8 End. Bal. 113 Retained Earnings Service Revenue Beg. Bal. 8 Beg. Bal. (h) 0 178 X End. Bal. 8 End. Bal. 178 Income Tax Payable Common Stock Beg. Bal. 0 Beg. Bal. 90 (p) 23 (c) End. Bal. 8 End. Bal. 113 Retained Earnings Service Revenue Beg. Bal. 8 0 Beg. Bal. (h) 178 End. Bal. 8 End. Bal. 178 Salaries and Wages Expense Depreciation Expense 0 Beg. Bal. 0 Beg. Bal. (0) 94 (m) 6 End. Bal. 94 End. Bal. 6 Amortization Expense Income Tax Expense 0 0 Beg. Bal. (k) Beg. Bal. (p) 4 8 End. Bal. 4 End. Bal. 8 Interest Expense Supplies Expense 0 0 Beg. Bal. (n) Beg. Bal. (e) 1 18 End. Bal. 1 End. Bal. 18 4. Record the adjusting journal entries (k) through (p). (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 1 Record the unrecorded amortization for the year on software, $4. > 2 Record the adjusting entry for supplies counted on December 31, 2018 for $10. 3 Record the adjusting entry for depreciation for the year on the equipment, $6. 4 Credit Record the adjusting entry for accrued interest for $1 on notes payable. 5 Record the adjusting entry for salaries and wages earned but not paid for $12. 6 Record the adjusting entry for income tax for the year Note : = journal entry has been entered Record entry Clear entry View general journal 5. Post the adjusting entries from requirement 4 and prepare an adjusted trial balance. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Adjusted 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 Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Total