[The following information applies to the questions displayed below] Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated) on January 1. 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (amounts are rounded to thousands of dollars to simplify). Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed \$25 cash on July 1, 2021, signing a six-month note payable. b. Purchased equipment for $22 cash on July 2 . c issued additional shares of common stock on July 3 for $4. d. Purchased additional equipment on August 4, $4cash. e. Received supplies on account on supplies on September 5 for future use, $9. r On December 6 , recorded revenues in the amount of $68, including $8 on credit and $60 recelved in cash. 9. Paid salaries and wages expenses on December 7,$39. h. Collected eccounts receivable on December 8.$7. i. Paid accounts payable on December 9,\$10. 1. Received a $4 deposit on December to for work to start January 15,2022. Data for adjusting journal entries on December 31 Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed $25 cash on July 1, 2021, signing a six-month note payable. b. Purchased equipment for $22 cash on July 2 . c. Issued additional shares of common stock on July 3 for $4. d. Purchased additional equipment on Aupust 4,$4 cash. e. Recelved supplies on account on supplies on September 5 for future use, $9. f. On December 6 , recorded revenues in the amount of $68, including $8 on credit and $60 received in cash. g. Paid salaries and wages expenses on December 7,$39. h. Collected accounts recelvable on December 8,$7. 1. Paid accounts payable on December 9,$10. f. Recelved a $4 deposit on December 10 for work to start January 15, 2022. Date for adjusting journal entries on December 31 : k. Amortization for 2021, $4. 1. Supplies of $5 were counted on December 31, 2021. m. Depreciation for 2021 . \$1. n. Accrued interest on notes payabie of $1. o. Salaries and wages earned but not yet paid, $2. p. Income tax for 2021 was $3 and wifi be paid in 2022 . Maps ( Swed (1) Required information \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Accumulated Amortization } \\ \hline Beginning Balance & & \\ \hline & & \\ \hline \end{tabular} Next Required information ICnetimn daninem iEntend butinonin (1) Required information \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Debit } & & \\ \hline Beginning Bolance & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline Beginning Balance Cebit & & \\ \hline Ending Balance & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Income Tax Expense } \\ \hline Beginning Balance & \\ \hline & \\ \hline & & \\ \hline & & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Depreciation Expense } & \\ \hline Beginning Balance & & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Sataries and Wages Expense } \\ \hline Beginning Balance & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Prev 10 bf 10 t: Next Saved (1. Required information Part 8 or 9 fepterences LAZY SOFA FURNITURE, INCORPORATED Post-Closing Trial Balance At December 31, 2021 (in thousands)
