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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 Debit $:53 Credit Accounts Receivable 15 Prepaid Insurance 5 Equipment 110 Accumulated Depreciation Accounts Payable $0 15 Salaries and Mages Payable Income Tax Payable 0 Common Stock 106 Retained Earnings 12 Sales Revenue 116 Insurance Expense Salaries and Wages Expense 25 Supplies Expense 41 Income Tax Expense Totals $249 $ 249 Other data not yet recorded at December 31 a Insurance expired during the year, $3.1 b. Depreciation expense for the year, $2 c. Salaries and wages payable, $5. d. Income tax expense, $7. Required: 1 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
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