
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text: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
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
Debit Credit
$ 47
9
4
98
0
19
35
$212
Other data not yet recorded at December 31:
a. Insurance expired during the year, $2.
b. Depreciation expense for the year, $1.
c. Salaries and wages payable, $4.
d. Income tax expense, $6.
$
0
C946 a
5616
94
10
99
$212

Transcribed Image Text:Record the closing entry for the year ended December 31.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit
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