Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

jornal entries for a-d . thanks ! E4-16 through E4-18 Recording Four Adjusting Journal Entries and Preparing an Adjusted Trial Balance, Reporting an Income Statement,

image text in transcribed
image text in transcribed
jornal entries for a-d . thanks !
image text in transcribed
image text in transcribed
E4-16 through E4-18 Recording Four Adjusting Journal Entries and Preparing an Adjusted Trial Balance, Reporting an Income Statement, Statement of Retained Earnings, and Balance Sheet and Recording Closing Entries (LO 4-2, LO 4-3, LO 4-4 and LO 4-5) [The following information applies to the questions displayed below. Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) Credit Debit $ 57 6 9 118 $ Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Totals 114 16 128 * e 29 45 $264 5264 Other data not yet recorded at December 31: a. Insurance expired during the year. $8 b. Depreciation expense for the year, $7. a Salaries and wages payable, $10. d. Income tax expense, $12 IARDIGARE In the tree Printanto a neare in theannten Allare Required information View transaction list 7 Journal entry worksheet Record the entry for insurance expired during the year, $8. Note: Enter debits before credits. ces Transaction General Journal Debit Credit Record entry Clear entry View general Journal 42 $ 57 6 9 118 Part 3 of 7 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Totals $ 0 6 114 16 128 0.54 oints 29 45 $264 $264 eBook Hint Other data not yet recorded at December 31: Print References a. Insurance expired during the year, $8. b. Depreciation expense for the year, $7. C. Salaries and wages payable, $10. d. Income tax expense, $12. E4-16 Part 3 3. By what amount would net income have been understated or overstated had the (Enter your answers in thousands of dollars.) Net income by Graw till

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: George H. Bodnar, William S. Hopwood

11th Edition

0132871939, 978-0132871938

Students also viewed these Accounting questions

Question

Why should you keep your programs and apps updated?

Answered: 1 week ago