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Required Information . E4-16 through E4-18 (Algo) Recording Four Adjusting Journal Entries, Preparing an Adjusted Trial Balance, Reporting an Income Statement, Statement of Retained Earnings,
Required Information . E4-16 through E4-18 (Algo) Recording Four Adjusting Journal Entries, Preparing an Adjusted Trial Balance, Reporting an Income Statement, Statement of Retained Earnings, Balance Sheet, Recording Closing Entries [LO 4-2, LO 4-3, LO 4-4, LO 4-5] [The following information applies to the questions displayed below.) 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.) Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Debit $44 Credit 15 7 92 Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock 91 Retained Earnings Sales Revenue 93 Insurance Expense Salaries and Wages Expense 16 Supplies Expense. 32 Income Tax Expense 0 Totals $206 $206 Other data not yet recorded at December 31: a. Insurance expired during the year, $5. b. Depreciation expense for the year, $4. c. Salaries and wages payable, $7. d. Income tax expense, $9. Required: 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 fleld. Enter your answers In thousands of dollars.) View transaction list Journal entry worksheet 3 4 Record the entry for Insurance expired during the year, $5. Note: Enter debits before credits. Transaction General Journal Debit Credits Record entry Clear entry View general journal 1. Prepare the adjusting journal entries for the year ended December 31. (If no entry is required for a trans Journal Entry Required" In the first account field. Enter your answers In thousands of dollars.) View transaction list Journal entry worksheet < 3 4 Record the entry for depreciation expense for the year, $4. Note: Enter debits before credits, Transaction b General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Prepare the adjusting journal entries for the year ended December 31. (If no entry is required for a transaction/e Journal Entry Required" In the first account field. Enter your answers in thousands of dollars.) View transaction list Journal entry worksheet < 1 2 4 Record the entry for salaries and wages payable of $7. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Prepare the adjusting journal entries for the year ended December 31. (If no entry Is required for a transaction/e Journal Entry Required" In the first account field. Enter your answers In thousands of dollars.) View transaction list Journal entry worksheet 1 2 3 Record the entry for Income tax payable of $9. Note: Enter debits before credits. Transaction d General Journal Debit Credit Record entry Clear entry View general journal 8
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