Chapter 4 HW: Question 4:3

The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT Cash 11.000.00 Laundry Supplies Prepaid insurance 21.500,00 9.600.00 232.600.00 125.400.00 11.800.00 105.600.00 Laundry Equipment Accumulated Depreciation Accounts Payable Sophie Perez. Capital Sophie Perez Drawing Laundry Revenue Wages Expense Best Expense Utilities Expense Miscellaneous Expense 10.000.00 232,200.00 125.200.00 40.000.00 19.700.00 5,400.00 1 Tot 475.000.00 475.000.00 usted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year follows: TAccounts 1. For each account listed in the unadjusted tral balance, enter the balance in the appropriate account. Identity the balance as "Bal" 3.1. Post the adjusting entries. Identity the adjustments by Ad, and the new balances as "Ad Bal. 6.1. Post the closing entries. In the accounts, identity the closing entries by Clos" (Be sure to add a posting reference to the journal) Cash (Accl. 11) ndry paid undiy Laundry Supplies (Acct 13) ccumul count Prepaid Insurance (Acct. 14) Sophie Sophie Laundry Rent Exl Laundry Equipment (Acet. 16) Utili Marcel Accumulated Depreciation (Acct. 17) Totals TAccounts Laundry Equipment (Acct. 16) Accumulated Depreciation (Acct. 17) Accounts Payable (Acct. 21) mul nt el Wages Payable (Acct. 22) le dry Sophie Perez, Capital (Acct. 31) es - Expl ties cella als AssignmentMain dorinvokerktakeAssignmentSessiontecator=&inprogress false sted trance of center Lure 30, 2019 the end of the cave follows TAccounts Sophie Perez, Dewing (Act. Laundry Reven (ct 45) Wagesse Acet. 511 RACE 525 sense (55) Ly Suppe ( Act 50 My worth T Accounts Rent Expense (Acct. 52) Utilities Expense (Acct. 53) dry aid dry Laundry Supplies Expense (Acct. 54) mul unt nie Depreciation Expense (Acct. 55) hie ndry Insurance Expense (Acct. 56) ges E at Ext lities Miscellaneous Expense (Acct. 59) scella als wound 3a Journalize the adjusting entries on page 10 of the journal Adjusting entries are recorded on June 30 6 a Journalize the closing entries on page 11 of the journal (Note Complete the adjusted trial balance, the income statement the statement of owner's equity and the balance sheet BEFORE completing part 6.a) 6 PAGE 10 PE JOURNAL ACCOUNTING EQUATION DATE POST RS DESCRIPTION Adjusting Entries DET CREDIT ASSETS TAUTIES EQUITY Journal 3 a Journalize the adjusting entries on page 10 of the journal. Adjusting entries are recorded on June 30 6 a Journalize the closing entries on page 11 of the journal (Note: Complete the adjusted trial balance, the income statement, the statement of owner's equity, and the balance sheet BEFORE completing part 6. a) TCO PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF CREAT ASSETS LIABILITIES EQUITY Closing Entries 2 1 11 11 Adjusted Trial Balance 4. Prepare an adjusted trial balance X Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies Prepaid insurance Laundry Equipment Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Sophie Perez. Capital Sophie Perez, Drawing 10 Laundry Revenue Wages Expense 12 Rent Expense Utilities Expense Laundry Supplies Expense 15 Depreciation Expense Insurance Expense Miscellaneous pense 17 Miscellaneous Expense 18 Totals Income Statement 5. Prepare an income statement for the year ended June 30, 2019. If a net loss has been incurred, enter that amount as a neg wording of text items other than account names. You will not need to enter colons() on the income statement Epicenter Laundry Income Statement (Label) (Label) 1 . 5 10 11 Statement of Owner's Equity 5. Prepare a statement of owner's equity for the year ended June 30, 2019. No additional investments were made of the list of Labels and Amount Descriptions for the correct wording of text items. Epicenter Laundry Statement of Owner's Equity (Label) 1 2 3 5 Balance Sheet Epicenter Laundry Balance Sheet (Label) 1 Assets ? Label) 3 4 5 5 7 Label) 9 10 11 Labilities 15 Label) 14 15 16 . 17 Owner's Equity 11 17 Owner's Equity 18 19 Post-closing Trial Balance X 7. Prepare a post-closing trial balance, Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment $ Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Sophie Perez. Capital 9 Totals The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT Cash 11.000.00 Laundry Supplies Prepaid insurance 21.500,00 9.600.00 232.600.00 125.400.00 11.800.00 105.600.00 Laundry Equipment Accumulated Depreciation Accounts Payable Sophie Perez. Capital Sophie Perez Drawing Laundry Revenue Wages Expense Best Expense Utilities Expense Miscellaneous Expense 10.000.00 232,200.00 125.200.00 40.000.00 19.700.00 5,400.00 1 Tot 475.000.00 475.000.00 usted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year follows: TAccounts 1. For each account listed in the unadjusted tral balance, enter the balance in the appropriate account. Identity the balance as "Bal" 3.1. Post the adjusting entries. Identity the adjustments by Ad, and the new balances as "Ad Bal. 6.1. Post the closing entries. In the accounts, identity the closing entries by Clos" (Be sure to add a posting reference to the journal) Cash (Accl. 11) ndry paid undiy Laundry Supplies (Acct 13) ccumul count Prepaid Insurance (Acct. 14) Sophie Sophie Laundry Rent Exl Laundry Equipment (Acet. 16) Utili Marcel Accumulated Depreciation (Acct. 17) Totals TAccounts Laundry Equipment (Acct. 16) Accumulated Depreciation (Acct. 17) Accounts Payable (Acct. 21) mul nt el Wages Payable (Acct. 22) le dry Sophie Perez, Capital (Acct. 31) es - Expl ties cella als AssignmentMain dorinvokerktakeAssignmentSessiontecator=&inprogress false sted trance of center Lure 30, 2019 the end of the cave follows TAccounts Sophie Perez, Dewing (Act. Laundry Reven (ct 45) Wagesse Acet. 511 RACE 525 sense (55) Ly Suppe ( Act 50 My worth T Accounts Rent Expense (Acct. 52) Utilities Expense (Acct. 53) dry aid dry Laundry Supplies Expense (Acct. 54) mul unt nie Depreciation Expense (Acct. 55) hie ndry Insurance Expense (Acct. 56) ges E at Ext lities Miscellaneous Expense (Acct. 59) scella als wound 3a Journalize the adjusting entries on page 10 of the journal Adjusting entries are recorded on June 30 6 a Journalize the closing entries on page 11 of the journal (Note Complete the adjusted trial balance, the income statement the statement of owner's equity and the balance sheet BEFORE completing part 6.a) 6 PAGE 10 PE JOURNAL ACCOUNTING EQUATION DATE POST RS DESCRIPTION Adjusting Entries DET CREDIT ASSETS TAUTIES EQUITY Journal 3 a Journalize the adjusting entries on page 10 of the journal. Adjusting entries are recorded on June 30 6 a Journalize the closing entries on page 11 of the journal (Note: Complete the adjusted trial balance, the income statement, the statement of owner's equity, and the balance sheet BEFORE completing part 6. a) TCO PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF CREAT ASSETS LIABILITIES EQUITY Closing Entries 2 1 11 11 Adjusted Trial Balance 4. Prepare an adjusted trial balance X Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies Prepaid insurance Laundry Equipment Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Sophie Perez. Capital Sophie Perez, Drawing 10 Laundry Revenue Wages Expense 12 Rent Expense Utilities Expense Laundry Supplies Expense 15 Depreciation Expense Insurance Expense Miscellaneous pense 17 Miscellaneous Expense 18 Totals Income Statement 5. Prepare an income statement for the year ended June 30, 2019. If a net loss has been incurred, enter that amount as a neg wording of text items other than account names. You will not need to enter colons() on the income statement Epicenter Laundry Income Statement (Label) (Label) 1 . 5 10 11 Statement of Owner's Equity 5. Prepare a statement of owner's equity for the year ended June 30, 2019. No additional investments were made of the list of Labels and Amount Descriptions for the correct wording of text items. Epicenter Laundry Statement of Owner's Equity (Label) 1 2 3 5 Balance Sheet Epicenter Laundry Balance Sheet (Label) 1 Assets ? Label) 3 4 5 5 7 Label) 9 10 11 Labilities 15 Label) 14 15 16 . 17 Owner's Equity 11 17 Owner's Equity 18 19 Post-closing Trial Balance X 7. Prepare a post-closing trial balance, Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment $ Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Sophie Perez. Capital 9 Totals