Question: please help with this long problem! 60 15 Brothers Harry and Herman Hatsyerday began operations of their machine shop (H & H Tool, Incorporated) on



60 15 Brothers Harry and Herman Hatsyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows the amounts are rounded to thousands of dollars to simplifyi Account Titles Debit Credit Cash $3 Accounts Receivable 5 Supplies 12 Land Equipment Accumulated Depreciation 5.6 Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and wages Payable Interest Payable Income Tax Payable Common Stock 71 Retained Earnings Service Revenue Salaries and wages Expense Depreciation Expense Asortization pense Income Tax Expense Interest Expense Supplies Expense Totals $95 5.05 1 5 points Skipped Transactions and events during 2021 (summarized in thousands of dollars) follow a Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site, paid cash, $9. c Issued additional shares of common stock on April 3 for $23 d. Purchased software on July 4, $10 cash. e Purchased supplies on account on October 5 for future use, $18. Paid accounts payable on November 6, $13 g. Signed a $25 service contract on November 7 to start February 1, 2022 h Recorded revenues of $160 on December 8, including $40 on credit and $120 collected in cash Recognized salaries and wages expense on December 9, $85 paid in cash. Collected accounts receivable on December 10, $24 Data for adjusting Journal entries as of December 31 k Unrecorded amortization for the year on software, $5. Supplies counted on December 31, 2021, $10 m Depreciation for the year on the equipment, $6, n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded $12. p Income tax for the year was $8 It will be paid in 2022. eBook References (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100)). General Requirement General Statement of Journal Income Ledger Trial Balance Retained Statement Balance Sheet Analysis Earnings General Journal tab. Prepare the journal entries to record the transactions (a) through (1) Review the accounts as shown in the General Ledger and Trial Balance tabs. Then prepare the necessary adjusting entries (k) through (p) to correctly report net income for the period. Then record the closing entry as of December 31. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances in the General Ledger Trial Balance tab - You may view either the unadjusted, adjusted, or post closing trial balance by choosing from the drop down Income Statement tab - Use the drop down to select the accounts properly included on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account based on your selection Statement of Retained Earnings tab - Prepare the statement of retained earnings for the year ended December 31, 2021. Balance Sheet tab - Use the drop-down to select the accounts to properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Analysis tab - Calculate the Net Profit Margin and Current Ratio. Firm General Journal WBL Journal entry worksheet bints
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