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[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):

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 during 2015 (summarized in thousands of dollars) follow:
1. Borrowed $12 cash on a six-month note payable dated March 1, 2015.
2. Purchased land for future building site; paid cash, $9.
3. Earned revenues for 2015, $160, including $40 on credit and $120 collected in cash.
4. Issued additional shares of stock for $3.
5. Recognized salaries and wages expense for 2015, $85 paid in cash.
6. Collected accounts receivable, $24.
7. Purchased software, $10 cash.
8. Paid accounts payable, $13.
9. Purchased supplies on account for future use, $18.
10. Signed a $25 service contract to start February 1, 2016.
Data for adjusting journal entries:
11. Unrecorded amortization for the year on software, $5.
12. Supplies counted on December 31, 2015, $10.
13. Depreciation for the year on the equipment, $6.
14. Accrued interest of $1 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 2016.

I need help with preparing an income statement, retained earnings statement, the balance sheet, and the post-closing trial balance. I also need help checking my answers for my adjusted trial balance with the adjusted entries included.

thank you

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Irving Heathcote
Irving HeathcoteLv2
28 Sep 2019

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