The unadjusted trial balance of Iguana Laundromat at June 30, 2008, the end of the current fiscal year, is shown below.

{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, Insurance Expense, and Income Summary.
2. Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet. Add the accounts listed in part (1) as needed.
3. Journalize and post the adjusting entries. Identify the adjustments by "Adj." and the new balances as "Adj. Bal."
4. Prepare an adjusted trial balance.
5., Prepare an income statement, a retained earnings statement, and a balance sheet.
6. Journalize and post the closing entries. Identify the closing entries by "Clos."
7. Prepare a post-closing trial balance.objs. 2,3

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Cash Laundry Supplies. Prepaid Insurance Laundry Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends Laundry Revenue Wages Expense Rent Expense Utilities Expense Miscellaneous Expense Iguana Laundromat Unadjusted Trial Balance June 30, 2008 Debit Balances Credit Balances 5,500 9,450 4,300 142,000 75,200 4,900 7,500 46,300 4,200 116,100 52,000 19,650 10,200 2,700 250,000 250,000 The data needed to determine year-end adjustments are as follows: a. Laundry supplies on hand at June 30 are $1,500. b. Insurance premiums expired during the year are $3,200. c. Depreciation of equipment during the year is $6,000. d. Wages accrued but not paid at June 30 are $750.