Question

Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows (the amounts are rounded to thousands of dollars to simplify):

Account Titles	Debit			Credit
Cash	$	3
Accounts Receivable		5
Supplies		12
Land		0
Equipment		69
Accumulated Depreciation				$	6
Software		24
Accumulated Amortization					4
Accounts Payable					5
Notes Payable (short-term)					0
Salaries and Wages Payable					0
Interest Payable					0
Income Tax Payable					0
Common Stock					90
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	$	113		$	113

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 $178 on December 8, including $49 on credit and $129 collected in cash.
9. Recognized salaries and wages expense on December 9, $94 paid in cash.
10. Collected accounts receivable on December 10, $33.

Data for adjusting journal entries as of December 31:

11. Unrecorded amortization for the year on software, $4.
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. 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions (a)-(j), adjusting entries (k)-(p), and closing entry. (Enter your answers in thousands of dollars.)

2. Record the adjusting journal entries (k) through (p). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.)
3. Post the adjusting entries from requirement 4 and prepare an adjusted trial balance. (Enter your answers in thousands of dollars.)

4. 6-a. Prepare an income statement.

5. 6-b. Prepare the statement of retained earnings.

6. 6-c. Prepare the balance sheet.

Answer 1

Please find workings in image. Thank you plz upvote.

Notes. Signed a contract for 25 on november will not have any effects.

6 a

Income statement
To salaries & wages	106	By sales	178
To depn	6
To amortisation	4
To Interset expenses	8
To Income tax expenses	1
To supplies Expenses	20
To net Profit	33
	145		178

6 b

Retained Earnings
		By openings balance	8
		By current year net profit	33
To closing Balance	41
	41		41

6 c

Balance Sheet
Liabilites	Amount	Assets	Amount
Common stock	113	cash	74
Retained Earnings	41	Land	9
Accounts Payables	10	Equipment	57
Notes payable	12	Suppies	10
Interest payable	1	Account Receviable	21
Income tax payable	8	Software	26
Salaroes & wages payable	12
	197		197

А B D E F G Н. M N O P 0 R Event $ Credit General Jouranl 01-Mar Cash account To short term notes Post Ref Debit 12 12 Amount Share holders equity Common stock Amount By opening bal 113 By cash Account receviable Amount 5 By cash 49 By bal Amount 90 To opening bal To sales 33 To bal 23 02-Mar Land account To cash 9 21 3 23 Total 54 Total 54 Total 113 Total 113 03-Apr Cash account To common stock 23 10 Amount 04-Jul Software account To cash 10 To openingbal To account payable Supplies Amount 12 18 By expenses By closing bal 30Total Short Term Notes Amount By opening bal 12 By cash Amount 0 12 5 18 20 10 30 05-Oct Supplies account To account payable 18 Total To bal To Total 12 Total 12 6 13 06-Nov Account payables To cash Assets Cash Account 13 Amount Amount 5 7 9 To cash 08-Dec Cash account Accounts receviable To sales 129 49 10 Accounts payable Amount 13 By opening bal By supplies 10 23 Total 18 To opening bal To short term notes To common stock To sales To accounts receviable 178 Amount 3 By land 12 By software 23 By accounts payable 129 By salaries 33 By bal 13 To bal Total 94 23 8 94 09-Dec Salaries & wages To cash 94 74 9 33 Total 200 Total 200 10-Dec Cah account To accounts receviable 33