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, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify): Debit Credit $ 6 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals w wooooww Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $16 cash on July 2, 2018 c Issued additional shares of common stock for $6 on July 3 d. Purchased software on July 4, $2 cash. e. Purchased supplies on July 5 on account for future use. $8. f Recorded revenues on December 6 of $47, including $9 on credit and $38 received in cash. 9. Recognized salaries and wages expense on December 7 of $21; paid in cash. h. Collected accounts receivable on December 8, $8. i. Paid accounts payable on December 9, $9. /. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Data for adjusting journal entries on December 31: Data for adjusting journal entries on December 31: k. Amortization for 2018. $3. Supplies of $2 were counted on December 31, 2018. m. Depreciation for 2018, $3. n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $4. p. Income tax expense for 2018 was $3 and will be paid in 2019. 6-a. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Reg 6A Reg 6B Req 6C Prepare an income statement. (Enter your answers in thousands of dollars.) NORTHLAND PHYSICAL THERAPY Income Statement (in thousands) 10 Reg6A Req6B > 6-b. Prepare the statement of retained earnings 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Req 6A Reg 6B Reg 6C Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.)... NORTHLAND PHYSICAL THERAPY Statement of Retained Earnings (in thousands) Balance, January 1, 2018 Balance, December 31, 2018 0-1. Piepal U UD SUCCL Complete this question by entering your answers in the tabs below. Req 6A Req 6B Reg 6C Prepare the balance sheet. (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.) NORTHLAND PHYSICAL THERAPY Balance Sheet (in thousands) Reg 6B NORTHLAND PHYSICAL THERAPY Adjusted Trial Balance December 31, 2018 Adjustment Debit Credit Debit Credit $25 Adjusted Debit Credit $25 $3 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts payable Notes Payable (short-term) Salarics and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense "Totals S47 $95 895 $22 $22 $109 S109
