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Cayuga Ltd. prepared the following trial balance at the end of Its first year of operations ended December 31. To slmplify the case, the amounts
Cayuga Ltd. prepared the following trial balance at the end of Its first year of operations ended December 31. To slmplify the case, the amounts given are In thousands of dollars. Other data not yet recorded at December 31 are as follows: a. Insurance explred during the year, $8. b. Depreclation expense for the year, $8. c. Wages payable, $9. d. Income tax expense, $18. Requlred: 1. Prepare the adjusting entrles for the year. (Enter your answers In thousands of dollars. If no entry Is requlred for a transaction/event, select "No Journal entry requlred" In the first account fleld.) 3. Complete the trial balance Adjustments and Adjusted columns. (For revenues and expenses enter the total amount of adjustments In the adjustment column. Enter your answers In thousands of dollars.)
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