Mint cleaning incorporated 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.)

Mint Cleaning Incorporated 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 $ 39 10 7 82 $ 10 @ Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totals 78 6 82 0 11 27 0 $ 176 $ 176 Other data not yet recorded at December 31: a. Insurance expired during the year, $4. b. Depreciation expense for the year, $3. c. Salaries and wages payable, $6. d. Income tax expense, $8. 1. Prepare the adjusting journal entries for the year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet 1 2 3 4 > Record the entry for insurance expired during the year, $4. Note: Enter debits before credits. Transaction General Journal Debit Credit Required: 2-a. Post the beginning balances and adjusting entries to the following T-accounts 2-b. Prepare an adjusted trial balance as of December 31 Complete this question by entering your answers in the tabs below. Reg 28 Reg 2A Post the beginning balances and adjusting entries to the following T-accounts. (Enter your answers in thousands of dollars.) Cash Credit Accounts Receivable Debit Beginning Balance Debit Beginning Balance Credit Ending Balance Ending Balance Prepaid Insurance Equipment Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Accumulated Depreciation Accounts Payable Debit Credit Debit Credit Ending Balance 0 Ending Balance Common Stock Retained Earnings Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Sales Revenue Supplies Expense Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Salaries and Wages Expense Debit Credit Depreciation Expense Debit Beginning Balance Credit Beginning Balance Ending Balance 0 Ending Balance 0 Insurance France Income Tax Fxnense 3. By what amount would net income have been understated or overstated had the adjusting journal entries not been recorded? (Enter your answers in thousands of dollars.) Net income by Required: Using the adjusted balances, prepare an income statement for the year ended December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INCORPORATED Income Statement (in thousands of dollars) 0 0 Required: Using the adjusted balances, prepare a statement of retained earnings for the year ended December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INCORPORATED Statement of Retained Earnings (in thousands of dollars) Beginning Balance Ending Balance Required: Using the adjusted balances, prepare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands of dollars.) MINT CLEANING INCORPORATED Balance Sheet (in thousands of dollars) $ 0 $ 0 0 $ 0 $ 0 Required: Using the adjusted balances, prepare the closing journal entry for the year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet Record the closing entry for the year ended December 31. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal