Required: Prepare a post-closing trial balance. Note: Enter your answers...

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Accounting

Required:
Prepare a post-closing trial balance.
Note: Enter your answers in thousands of dollars.Brothers Huey and Hiram Hausyerday began operations of their machine shop (H & H Tool, Incorporated) on January 1,
The annual reporting period ends December 31. The trial balance on January 1,2024, follows (the amounts are
rounded to thousands of dollars to simplify):
Transactions and events during 2024(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. Received supplies on account on October 5 for future use, $18.
f. Paid accounts payable on November 6, $13.
g. Signed a contract on November 7 to provide $25 of services starting February 1,2025.
h. Recorded revenues of $160 on December 8, including $40 on credit and $120 collected in cash.
i. Recognized salaries and wages expense on December 9, $85 paid in cash.
j. 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.
I. Supplies counted on December 31,2024, $10.
m. Depreciation for the year on the equipment, $6.
n. Interest of $1 on notes payable is yet to be recorded.
o. Salaries and wages earned but not yet paid or recorded, $12.
p. Income tax for the year was determined to be $8. It will be paid in 2025.
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