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the end of its second year of operations Required information [The following information applies to...

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Accounting

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the end of its second year of operations Required information [The following information applies to the questions displayed below] Mint Cleaning Incorporated prepared the following unadjusted trial balance ending December 31. (Assume amounts are reported in thousands of dollars.) Account Titles Debit Credit Cash $ 50 Accounts Receivable 12 Prepaid Insurance 7 Equipment 104 Accumulated Depreciation $0 Accounts Payable 12 Salaries and Wages Payable Income Tax Payable Connon Stock 98 Retained Earnings 16 Sales Revenue 107 Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totals $ 233 $ 233 22 38 0 Other data not yet recorded at December 31 a. Insurance expired during the year. $6. b. Depreciation expense for the year . $5. Salaries and wages payable, $8. d. Income tax expense, $10. 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.) 4 MINT CLEANING INCORPORATED Balance Sheet For the Year Ended December 31 (in thousands of dollars) Assets "Book Herences 5 0 0 0 0

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