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E4-16 through E4-18 Recording Four Adjusting Journal Entries and Preparing an Adjusted Trial Balance, Reporting an Income Statement, Statement of Retained Earnings, and Balance Sheet and Recording Closing Entries (LO 4-2, LO 4-3, LO 4.4 and LO 4-5) (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 Credit $ 56 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 Other data not yet recorded at December 31: a. Insurance expired during the year, $6. b. Depreciation expense for the year, $5. c. Salaries and wages payable, $8. d. Income tax expense, $10. 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 0 End. Balo Prepaid Insurance Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal 0 Accumulated Depreciation Accounts Payable Beg. Bal. Beg Bal End. Bal. End. Bal. Salaries and Wages Payable Income Tax Payable Beg Bal. Beg. Bal End. Bal. End. Bal Required information Common Stock Retained Earnings Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Sales Revenue Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Salaries and Wages Expense Depreciation Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Insurance Expense Income Tax Expense Beg. Bal. Beg. Bal. End. Bal. L o End. Bal. S Req2A Reg 28 > Prepare an adjusted trial balance as of December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INC. Adjusted Trial Balance (in thousands of dollars) Debit Account Titles Credit Totals $ 0 $ 0 Req 2A Reg 28 Required: Using the above adjusted balances, prepare an income statement. (Enter your answers in thousand MINT CLEANING INC. Income Statement (in thousands of dollars) LI Required: Using the above 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 INC. Balance Sheet (in thousands of dollars) $ $ 0

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