Question
Net income: $10,700 GENERAL LEDGER Chapter 4 Completing the Accounting Cycle PR 4-3A T accounts, adjusting entries, financial statements, and closing entries; optional end-of-period
Net income: $10,700 GENERAL LEDGER Chapter 4 Completing the Accounting Cycle PR 4-3A T accounts, adjusting entries, financial statements, and closing entries; optional end-of-period spreadsheet Obj. 2, 3 The unadjusted trial balance of Epicenter Laundry at June 30, 2018, the end of the fiscal year, follows: Cash Laundry Supplies. Prepaid Insurance.. Laundry Equipment. Accumulated Depreciation Accounts Payable. Common Stock. Retained Earnings Dividends Laundry Revenue. Wages Expense.. Rent Expense.. Utilities Expense.. Miscellaneous Expense. Epicenter Laundry Unadjusted Trial Balance June 30, 2018 Debit Balances 11,000 21,500 9,600 232,600 10,000 125,200 40,000 19,700 5,400 475,000 The data needed to determine year-end adjustments are as follows: (A) Laundry supplies on hand at June 30 are $3,600. (B) Insurance premiums expired during the year are $5,700. (C) Depreciation of laundry equipment during the year is $6,500. (D) Wages accrued but not paid at June 30 are $1,100. Instructions Credit Balances 125,400 11,800 40,000 65,600 232,200 213 475,000 4. Prepare an adjusted trial balance. in worksheet. 5. Prepare an income statement, a retained earnings statement, and a balance sheet, option a 6 Journalize and post the closing entries. Identify the closing entries by "Clos." (Maccounts) 7. Prepare a post-closing trial balance.
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