Adjusting Journal Entries

Other data not yet recorded at December 31: a. Insurance expired during the year, $5. b. Depreciation expense for the year, $4. c. Salaries and wages payable, $7. d. Income tax expense, $9. Required: 1. Prepare the adjusting journal entries for the year ended December 31 . 2. Using T-accounts, determine the adjusted balances in each account and prepare an adjusted trial balance as of December 31 . 3. By what amount would net income have been understated or overstated had the adjusting journal entries not been recorded? 6.A.Q Adjusting Journal Entries