[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, 2013. The annual reporting period ends December 31. The trial balance on January 1, 2015, follows (the amounts are rounded to thousands of dollars to simplify: Credit Debit $ 3 Account Titles 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 Eamings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense 0.00000 OOOOOO Totals Transactions during 2015 (summarized in thousands of dollars) follow 1. Borrowed $12 cash on a six-month note payable dated March 2015 2 Purchased land for future building site: paid cash, S9. 3. Eamed revenues for 2015, 5178. Including $49 on credit and $129 collected in cash 4. Issued additional shores of stock for $3. 5. Recognized solaries and wages expense for 2015, S94 pod in cash. 6. Collected accounts receivable. $33. 7. Purchated software. $10 cash 8. Pald accounts payable $13. 9 Purchased supplies on account for future use. 518 10. Signed a $25 service contract to start February 1, 2016 Dato for utong journal entries: 11. Unrecorded amortization for the year on software. $4 12. Supples counted on December 31, 2015 $10. 13. Depreciation for the year on the equipment S6 14. Accrued interest of $1 on notes payable 15. Salanes and wages earned but not yet paid or recorded, $12 16. Income tax for the year was $8 it will be paid in 2016 3,5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions 1-10, adjusting entries 11-16, and closing entry. (Enter your answers in thousands of dollars.) Cash Accounts Receivable Beg. Bal. Beg. Bal. End Bal. End. Bal Supplies Beg. Bal. Beg Bal. End Bal End, Bal Equipment Accumulated Depreciation Equipment Beg Bal Beg Bal. End Bal End, Bal Software Accumulated Amortization Beg Bal. 1 Beg Bal End. Bal End. Bal Accounts Payable Notes Payable Beg Bal 1 Beg Bal End Bal End Bal Salaries and Wasies Payable Interest Payable Beg Bal Bog Bal Income Tax Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End. Bal. End, Bal. Depreciation Expense Amortization Expense Beg. Bal. Beg Bal. End. Bal. End. Bal Income Tax Expense Interest Expense Beg Bal. Beg. Bal. End. Bal. End. Bal Salaries and Wages Expense Supplies Expense Beg Bal. Beg. Bal. End Bal End Bal 3. Post the journal entries from requirement 2 to T-accounts and prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Unadjusted Trial Balance Debit Credit (in thousands) Account Titles Cash Accounts Receivable 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 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) 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 $ 0 Prepare an income statement H & H TOOL, INC. Income Statement (in thousands) 6.b Prepare a statement of retained earnings. H&H TOOL, INC. Statement of Retained Earnings (in thousands) Balance, January 1, 2015 Balance, December 31, 2015 6.C Prepare balance sheet (Amounts to be deducted should be indicated by a minus sign H&H TOOLING Balance Sheet in thousands) 11 / / 17 / / / LLLLLL LLLLL TIT / / / / 0 LET / / / / / Equipment / / / / Software / / / / /