number 6-9

84 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 Debit Credit Cash $ 40 Accounts Receivable 11 Prepaid Insurance 8 Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Sales Revenge Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totals $ 183 Other data not yet recorded at December 31 a. Insurance expired during the year, $7. b. Depreciation expense for the year. $6. Salaries and wages payable, $9. d. Income tax expense, $11. $0 11 0 0 80 8 84 O 12 28 0 $ 183 Required information 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.) View transaction list Journal entry worksheet 2 1 3 4 Record the entry for Insurance expired during the year, $7. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal 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 Debit Credit Cash $ 40 Accounts Receivable 11 Prepaid Insurance 8 Equipment 84 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 Expende Totals $ 183 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. $0 11 0 0 80 8 84 0 12 28 0 $ 183 Accounts Payable Salaries and Wages Payable Income Tax Payablo Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totals 11 0 0 80 B 84 0 12 28 0 $ 183 $ 183 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. E4-16 (Algo) Part 3 Required: 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.) Not income by ! 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.) Credit Debit $40 11 8 84 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 Salories and Wages Expense Supplies Expense Income Tax Expense Totals $0 11 0 0 80 8 84 0 12 28 0 $ 183 $ 183 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. E4-17 (Algo) Part 1 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 Cash 11 B 84 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 Title Debit credit $ 40 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Warnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totala 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. $0 11 0 0 80 84 0 12 20 0 $ 183 $ 183 E4-17 (Algo) Part 3 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)