Epicenter Laundry Unadjusted Trial Balance June 30, 20Y3 Debit Balances Credit Balances Cash.. . Laundry Supplies... Prepald Insurance... Laundry Equipment.. Accumulated Depreclation.. Accounts Payable... Sophle Perez, Capital... Sophie Perez, Drawing.. Laundry Revenue.... 11,000 21,500 9,600 232,600 125,400 11,800 105,600 10,000 232,200 Wages Expense... Rent Expense.... Utilities Expense.... Miscellaneous Expense.. 125,200 40,000 19,700 5,400 475,000 475,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
  1. Laundry supplies on hand at June 30 are $3,600.
  2. Insurance premiums expired during the year are $5,700.
  3. Depreciation of laundry equipment during the year is $6,500.
  4. Wages accrued but not paid at June 30 are $1,100.

Instructions

  1. For each account listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance as “June 30 Bal.” In addition, add T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, and Insurance Expense.
  2. Journalize and post the adjusting entries. Identify the adjustments as “Adj.” and the new balances as “Adj. Bal.”
  3. Prepare an adjusted trial balance.
  4. Prepare an income statement, a statement of owner’s equity (no additional investments were made during the year), and a balance sheet.
  5. Journalize and post the closing entries. Identify the closing entries as “Clos.”
  6. Prepare a post-closing trial balance.
Firefox
File
Edit
View
History Bookmarks
Tools
Window
Help
12% O
Sun 11:01 AM
34°
< https:/
EB Revie
EB Califor
37 res
Inbox
* Cyber
N Print:
C State
Currer
John F
Co X
Zoosk
ау.
Com
E) → C A
TIttps://nu.blackboard.com/ultra/courses/_134869_1/cl/outline
...
aselor.
re
Epicenter Laundry
Unadjusted Trial Balance
June 30, 20Y3
for U
login/
F
Debit
Balances
Credit
Balances
73
Cash... .
Laundry Supplies..
Prepaid Insurance..
Laundry Equipment....
Accumulated Depreciation...
Accounts Payable...
Sophie Perez, Capital....
Sophie Perez, Drawing..
Laundry Revenue.....
Ed Titl
11,000
21,500
9,600
...
The U.S
232,600
the Edu
125,400
$/ 13
11,800
progran
105,600
No pers I-
benefits
financia
10,000
232,200
Wages Expense....
Rent Expense.
Utilities Expense....
Miscellaneous Expense..
125,200
for the
Scope
40,000
19,700
Title IX
5,400
475,000
educati
postsec
included
475,000
and terr
15
Educati
key issu
financia
disciplin K
opposin
complai
ED Title +)
about th
78
19
The data needed to determine year-end adjustments are as follows:
24 Salaries and Wages Expense | 25
25 Advertising Expense
61.278
OCR's Enforcemen
29
Transcribed Image Text:Firefox File Edit View History Bookmarks Tools Window Help 12% O Sun 11:01 AM 34° < https:/ EB Revie EB Califor 37 res Inbox * Cyber N Print: C State Currer John F Co X Zoosk ау. Com E) → C A TIttps://nu.blackboard.com/ultra/courses/_134869_1/cl/outline ... aselor. re Epicenter Laundry Unadjusted Trial Balance June 30, 20Y3 for U login/ F Debit Balances Credit Balances 73 Cash... . Laundry Supplies.. Prepaid Insurance.. Laundry Equipment.... Accumulated Depreciation... Accounts Payable... Sophie Perez, Capital.... Sophie Perez, Drawing.. Laundry Revenue..... Ed Titl 11,000 21,500 9,600 ... The U.S 232,600 the Edu 125,400 $/ 13 11,800 progran 105,600 No pers I- benefits financia 10,000 232,200 Wages Expense.... Rent Expense. Utilities Expense.... Miscellaneous Expense.. 125,200 for the Scope 40,000 19,700 Title IX 5,400 475,000 educati postsec included 475,000 and terr 15 Educati key issu financia disciplin K opposin complai ED Title +) about th 78 19 The data needed to determine year-end adjustments are as follows: 24 Salaries and Wages Expense | 25 25 Advertising Expense 61.278 OCR's Enforcemen 29
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 9 images

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education