Question: please answer all question clearly! Required information [The following information applies to the questions displayed below.] Mint Cleaning Inc. prepared the following unadjusted trial balance
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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 second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) Account Titles Debit Credit Cash $ 52 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation $ 0 Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense $247 $247 14 9 108 14 104 17 112 0 24 40 Totals 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 information View transaction list Journal entry worksheet 1 2 3 Record the entry for insurance expired during the year, $7. 5 Note: Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general Journal Help Save & Exit Totals 49 2 Check 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. 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.) Net income by Required information Journal entry worksheet Record the closing entry for the year ended December 31. Note: Enter debits before credits. Transaction General Journal Debit 1 Credit Record entry Clear entry View general Journal
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