Question
Required information [The following information applies to the questions displayed below.) Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of
Required information [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 $ 52 Credit 14 9 108 Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings $ 0 141 0 0 104 17 Sales Revenue 112 Insurance Expense Salaries and Wages Expense 24 Supplies Expense 40 Income Tax Expense Totals $247 $247 Other data not yet recorded at December 31: a. Insurance expired during the year, $7. b. Depreciation expense for the year, $6. c. Salaries and wages payable. $9. d. Income tax expense, $11. 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 field. Enter your answers in thousands of dollars.)
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