Question

Account Titles	Debit				Credit
Cash	$	3
Accounts Receivable		5
Supplies		12
Land		0
Equipment		60
Accumulated Depreciation					$	6
Software		15
Accumulated Amortization						5
Accounts Payable						5
Notes Payable (short-term)						0
Salaries and Wages Payable						0
Interest Payable						0
Income Tax Payable						0
Common Stock						71
Retained Earnings						8
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	$	95			$	95

transactions and events during 2018 (summarized in thousands of dollars) follow:

1. Borrowed $12 cash on March 1 using a short-term note.

2. Purchased land on March 2 for future building site; paid cash, $9.

3. Issued additional shares of common stock on April 3 for $23.

4. Purchased software on July 4, $10 cash.

5. Purchased supplies on account on October 5 for future use, $18.

6. Paid accounts payable on November 6, $13.

7. Signed a $25 service contract on November 7 to start February 1, 2019.

8. Recorded revenues of $160 on December 8, including $40 on credit and $120 collected in cash.

9. Recognized salaries and wages expense on December 9, $85 paid in cash.

10. Collected accounts receivable on December 10, $24.

Data for adjusting journal entries as of December 31:

11. Unrecorded amortization for the year on software, $5.

12. Supplies counted on December 31, 2018, $10.

13. Depreciation for the year on the equipment, $6.

14. Interest of $1 to accrue on notes payable.

15. Salaries and wages earned but not yet paid or recorded, $12.

16. Income tax for the year was $8. It will be paid in 2019.

1. Prepare a journal entry worksheet 

2. Prepare an income statement

3. Statement of Retained Earnings

4. Balance sheet

5. Analysis