Chart of Accounts CHART OF ACCOUNTS Epicenter Laundry General Ledger ASSETS REVENUE 41 Laundry Revenue 11 Cash EXPENSES 13 Laundry Supplies 14 Prepaid Insurance 16 Laundry Equipment 17 Accumulated Depreciation LIABILITIES 21 Accounts Payable 22 Wages Payable 51 Wages Expense 52 Rent Expense 53 Utilities Expense 54 Laundry Supplies Expense 55 Depreciation Expense 56 Insurance Expense 59 Miscellaneous Expense EQUITY 31 Sophie Perez, Capital 32 Sophie Perez, Drawing 33 Income Summary Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Year Ended June 30, 20Y3 June 30, 2093 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Sophie Perez, capital, June 30, 2083 Sophie Perez, capital, July 1, 20Y2 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals Adjusted Trial Balance 4. Prepare an adjusted trial balance. How does grading work? Score: 22/71 Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 20Y3 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Sophie Perez, Capital 9 Sophie Perez, Drawing 10 Laundry Revenue 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Laundry Supplies Expense 15 Depreciation Expense 16 Insurance Expense 17 Miscellaneous Expense 18 Totals Income Statement Shaded cells have feedba 5. Prepare an income statement for the year ended June 30, 20Y3. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (-) on the income statement. Question not attempted. Epicenter Laundry Score: 0/95 Income Statement (Label) 1 2 (Label) 3 4 5 6 7 8 9 10 11 Chart of Accounts CHART OF ACCOUNTS Epicenter Laundry General Ledger ASSETS REVENUE 41 Laundry Revenue 11 Cash EXPENSES 13 Laundry Supplies 14 Prepaid Insurance 16 Laundry Equipment 17 Accumulated Depreciation LIABILITIES 21 Accounts Payable 22 Wages Payable 51 Wages Expense 52 Rent Expense 53 Utilities Expense 54 Laundry Supplies Expense 55 Depreciation Expense 56 Insurance Expense 59 Miscellaneous Expense EQUITY 31 Sophie Perez, Capital 32 Sophie Perez, Drawing 33 Income Summary Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Year Ended June 30, 20Y3 June 30, 2093 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Sophie Perez, capital, June 30, 2083 Sophie Perez, capital, July 1, 20Y2 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Withdrawals Adjusted Trial Balance 4. Prepare an adjusted trial balance. How does grading work? Score: 22/71 Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 20Y3 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Sophie Perez, Capital 9 Sophie Perez, Drawing 10 Laundry Revenue 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Laundry Supplies Expense 15 Depreciation Expense 16 Insurance Expense 17 Miscellaneous Expense 18 Totals Income Statement Shaded cells have feedba 5. Prepare an income statement for the year ended June 30, 20Y3. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (-) on the income statement. Question not attempted. Epicenter Laundry Score: 0/95 Income Statement (Label) 1 2 (Label) 3 4 5 6 7 8 9 10 11