Question

Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8 c. Issued additional shares of common stock on April 3 for $24 d. Purchased software on July 4, $11 cash. e. Purchased supplies on account on October 5 for future use, $19. f. Paid accounts payable on November 6, $12. g.Signed a $20 service contract on November 7 to start February 1, 2019. h.Recorded revenues of $180 on December 8, including $50 on credit and $130 collected in cash. Recognized salaries and wages expense on December 9, $95 paid in cash j.Collected accounts receivable on December 1O, $34 Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $5 Supplies counted on December 31, 2018, $12 m. Depreciation for the year on the equipment, $5 n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $13. p. Income tax for the year was $7. It will be paid in 2019.
please help me set up the T-accounts the same way it's shown

Answer 1

Date Ref Ref Date Debit Credit Ref Accounts Receivable Beg bal $ 6 $ 50$ 34 j Date Debit Credit Land Beg bal $ . $ 8 Beg bal H & H Tool, Inc. T Accounts Date Debit Credit Ref Cash Beg bal $ 2 $ 11 $ 8 b с $ 24$ 11 d $ 130 $ 12 f $ 34 $ 95 i End Bal. $ 75 Equipment Beg bal $ 70 Debit Credit Supplies $ 13 $ 19 $ 20 h End Bal. $ Accum. Amortisation - Software Beg bal 5 $ 5 k End Bal. $ 10 Interest Payable Beg bal $ - $ in End Bal. $ 1 e End Bal. $ 22 Accum. Depr. - Equipment Beg bal $ 5 $ 5 m End Bal. $ 10 Notes Payable (shortterm) Beg bal $ - $ 11 a End Bal. $ 11 Common Stock Beg bal $ 83 $ 24 C End Bal. $ 107 Salaries & Wages expense $ 95 $ 13 $ 108 End Bal. $ - Interest expense n $ 1 $ 1 End Bal. $ . End Bal. $ 70 Accounts Payable Beg bal $ 4 $ 12 $ 19 End Bal. $ 11 Income Tax Payable Beg bal $ - $ 7 End Bal. $ 7 Service revenue $ 180 1 $ 180 End Bal. $ - Income tax expense p $ 7 $ 7 End Bal. $ . End Bal. $ 12 Software Beg bal $ 15 d $ 11 End Bal. $ 26 Salaries & Wages Payable Beg bal $ - $ 130 End Bal. $ 13 Retained Earnings Beg bal $ 9 $ 34 End Bal. $ 43 Depreciation expense m $ 5 $ 5 1 End Bal. $ Supplies expense $ 20 $ 20 1 End Bal. $ . p h Amortisation expenses $ 5 $ 5 End Bal. $ - 1 1 1

H & H Tool, Inc. Journal entries No. Account Cash Notes Payable (shortterm) Debit Credit Calculation 11 Land Cash 24 Cash Common stock Software Cash Supplies Accounts Payable BE Accounts Payable Cash No entry Cash Accounts Receivable Service revenue 130 50 180 95 Salaries & Wages expense Cash 34 Cash Accounts Receivable Adjusting JES Amortisation expenses Accumulated Amortisation =13+19-12 Supplies expense Supplies 20 m Depreciation expense Accumulated Depreciation Interest expense Interest Payable 13 Salaries & Wages expense Salaries & Wages Payable Income tax expense Income Tax Payable 180 Closing JES Service revenue Salaries & Wages expense Supplies expense Depreciation expense Amortisation expenses Interest expense Income tax expense Retained Earnings

Unadjusted TB Debit Credit Adjusted TB Debit Credit Post Closing TB Debit Credit 10 10 11 H & H Tool, Inc. Account Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortisation Accounts Payable Notes Payable (shortterm) Salaries & Wages Payable Interest Payable Income Tax Payable Common stock Retained Earnings Service revenue Salaries & Wages expense Depreciation expense Amortisation expenses Income tax expense Interest expense Supplies expense Totals 107 107 107 180 180 328 328 359 359 213 213