0> Record the Year - end adjustment, (only 4 entries) 215 Chapter 4 Completing the Accounting Cycle Met income $16.700 21.300 PR 4-3A Taccounts, adjusting entries, financial statements, and OB, closing entries optional end of period spreadsheet The unadjusted trial balance of Epicenter Laundry at June 30, 2013, the end of the fiscal year, follows Epicenter Laundry Unadjusted Trail Balance June 30, 2011 Debit Gredit Balances Cash 11.000 Laundry Supplies Prepaid insurance 9.500 Laundry Eqoipment 2176 Accumulated Depreciation 125.400 Accounts Payable 11.000 Sophie Perez Capital 105.600 Sophie Perez, Drawing 10.000 Laundry Revenue 232.200 Wages Expense 125.200 Rent Expense 40.000 Utilities Expense. 19,700 Miscellaneous Expense 5.400 475 000 475 000 The data needed to desermine year-end adjustments are as follows: a. Laundry supplies and at June 30 are $3,600 b. Insurance premiums espired during the year are 55,700 c. Depreciation of landry equipment during the year is $6,500 d. 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 Taccount Identify the balance as "June 30 Bal." In addition, add T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, and Insurance Expense. 2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Add the accounts listed in part (1) as needed. 3. Journalire and post the adjusting entries. Identify the adjustments as "Adj. and the new balances as "Adj. Bal." 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the dosing entries. Identify the closing entries as "Clos 7. Prepare a post-closing trial balance