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.

	UNADJUSTED
Account Titles	Debit		Credit
Cash	20
Accounts receivable	13
Prepaid insurance	8
Machinery	85
Accumulated depreciation
Accounts payable			11
Wages payable
Income taxes payable
Common stock (4,000 shares)			4
Additional paid-in capital			67
Retained earnings	6
Revenues (not detailed)			82
Expenses (not detailed)	32
Totals	164		164

Other data not yet recorded at December 31 include

a. Insurance expired during the current year, $6.

b. Wages payable, $4.

c. Depreciation expense for the current year, $9.

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.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entries for 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 View journal entry worksheet General Journal Debit Credit No 1 Transaction a. Insurance expense - Required 1 Required 2 > Complete the trial balance Adjustments and Adjusted columns. The "Ref." column is for the reference letter of the adjusting entry effect. (For revenues and expenses enter the total amount of adjustments in the adjusted column. Enter your answers in thousands.) GREEN VALLEY COMPANY Trial Balance December 31, Current Year Unadjusted Adjustments Debit Credit Ref. Debit Adjusted Debit Credit Credit 20 20 13 13 85 85 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock Additional paid-in capital Retained earnings Revenues (not detailed) d 4 6 82 82 Expenses (not detailed) 32 164 Totals 164 016126176