E4-20 (Algo) Recording Four Adjusting Entries and Completing the Trial Balance Worksheet L04-1 Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. Account Titles UNADJUSTED Debit Credit 31 28 23 90 24 Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (7,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) Totals 7 70 22 131 232 232 Other data not yet recorded at December 31 include a. Insurance expired during the current year $11. b. Wages payable, $12. c. Depreciation expense for the current year. $14. d. Income tax expense, $7. Required: 1. Prepare the adjusting entries for the current year. 2. Complete the trial balance Adjustments and Adjusted columns. The "Ref" column is for the reference letter of the adjusting entry effect. Saved Required 1 Required 2 Prepare the adjusting entries the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet