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 TitlesDebit CreditCash$55Accounts Receivable 4Prepaid Insurance 7Equipment 114Accumulated Depreciation $0Accounts Payable 4Common Stock 110Retained Earnings 14Sales Revenue 122Insurance Expense 0Salaries and Wages Expense 27Supplies Expense 43Totals$250 $250
Other data not yet recorded at December 31:Insurance expired during the year, $5.Depreciation expense for the year, $4.Salaries and wages payable, $7.Income tax expense, $9.
How would I create the closing entries for this information
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here