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Required Information [The following information applies to the questions displayed below.] Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its
Required Information [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.) Debit $ 38 Credit 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 80 $169 $169 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. 2-a. Using T-accounts, determine the adjusted balances in each account. 2-b. Prepare an adjusted trial balance as of December 31. Required information Complete this question by entering your answers in the tabs below. Reg 2A Reg 2 Using T-accounts, determine the adjusted balances in each account. (Enter your answers in thousands of dollars.) - Cash Accounts Receivable Beg Bal. Beg Bal. End. Bal. O End. Bal 0 Equipment Prepaid Insurance 0 Beg. Bal. Beg. Bal. End. Bal. 5 End. Bal. O Accumulated Depreciation Accounts Payable Beg Bal Beg Bal End. Bal. Salaries and Wages Payable Income Tax Payable Beg Bal End Bal Common Stock Retained Earnings Beg Bal Beg Bal End. Bal. O End. Bal. 1 Sales Revenue Supplies Expense Beg Bal Beg Bal End. Bal 0 End. Bal 0 Salaries and Wages Expense Depreciation Expense Beg. Bal. Beg Bal End. Bal 0 End. Bal 0 Insurance Expense Income Tax Expense Beg Bal. Beg Bal End. Bal End Bal 0 Required: Using the above adjusted balances, prepare a statement of retained earnings. (Enter your answers in thousands of dollars.) MINT CLEANING INC. Statement of Retained Earnings in thousands of dollars) Beginning Balance Ending Balance Required: Using the above adjusted balances, prepare a classified balance sheet for the year ended December 31. (Enter your answers in thousands of dollars. Amounts to be deducted should be Indicated by a minus sign.) MINT CLEANING INC. Balance Sheet in thousands of dollars)
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