Prepare an adjusted trial balance as of December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INC. Adjusted Trial Balance At December 31 (in thousands of dollars) Account Titles Debit Credit Cash $58 Accounts Receivable 7 Prepaid Insurance Equipment 120 Accumulated Depreciation 8 Accounts Payable 7 Common Stock 116 Retained Earnings 17 Sales Revenue 131 Insurance Expense 9 Salaries and Wages Expense Supplies Expense 46 Depreciation Expense Salaries and Wages Payable $11 Income Tax Expense Income Tax Payable 13 Totals $240 $303

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27-06-2020
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Prepare an adjusted trial balance as of December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INC. Adjusted Trial Balance At December 31 (in thousands of dollars) Account Titles Debit Credit Cash $58 Accounts Receivable 7 Prepaid Insurance Equipment 120 Accumulated Depreciation 8 Accounts Payable 7 Common Stock 116 Retained Earnings 17 Sales Revenue 131 Insurance Expense 9 Salaries and Wages Expense Supplies Expense 46 Depreciation Expense Salaries and Wages Payable $11 Income Tax Expense Income Tax Payable 13 Totals $240 $303

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Zviko Zviko · Answer 1 · 2020-06-27T04:56:58+02:00

Answer:

Hie, the question has missing amounts / account balances relating to the following Accounts Prepaid Insurance, Salaries and Wages Expense and Depreciation Expense. However, both the debits and credit totals must add up to $292 as only debits are missing.

Explained and illustrated below is the approach to take on this question.

A trial balance is a list of balances (debit or credit) extracted from ledger accounts.

Adjusted Trial Balance At December 31

Debits Credit

$000 $000

Cash 58

Accounts Receivable 7

Prepaid Insurance (missing)

Equipment 120

Accumulated Depreciation 8

Accounts Payable 7

Common Stock 116

Retained Earnings 17

Sales Revenue 131

Insurance Expense 9

Salaries and Wages Expense (missing)

Supplies Expense 46

Depreciation Expense (missing)

Salaries and Wages Payable 11

Income Tax Expense

Income Tax Payable 13

Totals 292 292