Question

Set up T-accounts for the accounts on the trial balance. Account Titles Debit Credit Cash $ 2 Accounts Receivable 6 Supplies 13 Land 0 Equipment 54 Accumulated Depreciation $ 5 Software 21 Accumulated Amortization 6 Accounts Payable 4 Notes Payable (short-term) 0 Salaries and Wages Payable 0 Interest Payable 0 Income Tax Payable 0 Common Stock 72 Retained Earnings 9 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense 0 Supplies Expense 0 Totals $ 96 $ 96 Transactions and events during 2018 (summarized in thousands of dollars) follow: Borrowed $11 cash on March 1 using a short-term note. Purchased land on March 2 for future building site; paid cash, $8. Issued additional shares of common stock on April 3 for $30. Purchased software on July 4, $11 cash. Purchased supplies on account on October 5 for future use, $19. Paid accounts payable on November 6, $12. Signed a $20 service contract on November 7 to start February 1, 2019. Recorded revenues of $148 on December 8, including $34 on credit and $114 collected in cash. Recognized salaries and wages expense on December 9, $79 paid in cash. Collected accounts receivable on December 10, $18. Data for adjusting journal entries as of December 31: Unrecorded amortization for the year on software, $6. Supplies counted on December 31, 2018, $12. Depreciation for the year on the equipment, $5. Interest of $1 to accrue on notes payable. Salaries and wages earned but not yet paid or recorded, $11. Income tax for the year was $7. It will be paid in 2019. i have trouble making t accounts. please help

Answer 1

Opening Trial balance
Particulars	Amount (DR)	Amount (CR)
Cash	2
Accounts receivable	6
Supplies	13
Land	0
Equipment	54
Acc. Dept on equipment		5
Acc. Dept on s/w		6
Software	21
Accounts payable		4
Notes payable	0
Salary and wages payable	0
Intt Payable	0
Income tax payable	0
Common Stock		72
Retained earnings		9
Revenue		0
Salary and wages expenses	0
Dept exp	0
Amortisation exp	0
Income tax exp	0
Intt expenses	0
Supplies expenses	0
	96	96
	Notes payable
Particulars	Amount (DR)	Particulars	Amount (CR)
		By balance	0
To balance	11	By Cash	11
	11		11
	Land
Particulars	Amount (DR)	Particulars	Amount (CR)
To balance	0	By balance	8
To Cash	8
	8		8
	Supplies
Particulars	Amount (DR)	Particulars	Amount (CR)
To balance	13	By balance	12
To accounts payable	19	By COGS	20
	32		32
	Accounts payable
Particulars	Amount (DR)	Particulars	Amount (CR)
To cash	12	By balance	4
To balance	11	By Supply	19
	23		23
	Sales
Particulars	Amount (DR)	Particulars	Amount (CR)
To Balance	148	By Cash	114
		By Accounts receiveble	34
	148		148
	Depreciation
Particulars	Amount (DR)	Particulars	Amount (CR)
To Acc dept on s/w	6	By Balance	11
To Acc dept on equipment	5
	11		11
	Cost of goods sold
Particulars	Amount (DR)	Particulars	Amount (CR)
To Supplies	20	By Balance	20
	20		20
	Interest payable
Particulars	Amount (DR)	Particulars	Amount (CR)
		By Balance	0
To Balance	1	By Interest	1
	1		1
	Income tax payable
Particulars	Amount (DR)	Particulars	Amount (CR)
		By Balance	0
To Balance	7	By Income tax	7
	7		7

	Cash account
Particulars	Amount (DR)	Particulars	Amount (CR)
To Balance	2	By Land	8
To Note payable	11	By Software	11
To Issue of shares	30	By Accounts payable	12
To Sales	114	By Salary	79
To Accounts rec	18	By balance	65
	175		175
	Software
Particulars	Amount (DR)	Particulars	Amount (CR)
To balance	0	By balance	11
To Cash	11
	11		11
	Accounts receiveable
Particulars	Amount (DR)	Particulars	Amount (CR)
To balance	6	By Cash	18
To Cash	34	By balance	22
	40		40
	Salary & wages
Particulars	Amount (DR)	Particulars	Amount (CR)
To cash	79	By Balance	90
To Salary & wages payable	11
	90		90
	Accumulated dept on software
Particulars	Amount (DR)	Particulars	Amount (CR)
		By Balance	6
To Balance	12	By Software	6
	12		12
	Accumulated dept on Equipment
Particulars	Amount (DR)	Particulars	Amount (CR)
		By Balance	5
To Balance	10	By equipment	5
	10		10
	Interest
Particulars	Amount (DR)	Particulars	Amount (CR)
To interest payable	1	By balance	1
	1		1
	Salary & wages payable
Particulars	Amount (DR)	Particulars	Amount (CR)
		By Balance	0
To Balance	11	By Salary	11
	11		11
	Income tax
Particulars	Amount (DR)	Particulars	Amount (CR)
To Income tax payable	7	By Balance	7
	7		7