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 Statement of Owner's Equity Shaded cells have feedback. 5. Prepare a statement of owner's equity for the year ended June 30, 2013. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you mu enter subtracted or negative numbers use a minus sign. Question not attempted. Epicenter Laundry Score: 0/50 Statement of Owner's Equity (Label) 1 2 3 5 Points: 0/11 Balance Sheet Shaded cells have feedback. X 5. Prepare a balance sheet as of June 30, 2013. Fixed assets must be entered in order according to account number. 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. You will not need to enter colons (1) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all values as positive amounts. Question not attempted. Epicenter Laundry Score: 0/114 Balance Sheet (Label) Assets 2 Label) 3 4 5 6 1 (Label) 8 9 10 11 12 Liabilities 13 Label) 14 15 16 17 Owner's Equity 18 19 Points: 0/30 Post-closing Trial Balance 7. Prepare a post-closing trial balance. Question not attempted. Score: 0/35 Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2093 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance + Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 3 Sophie Perez, Capital 9 Totals 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 Statement of Owner's Equity Shaded cells have feedback. 5. Prepare a statement of owner's equity for the year ended June 30, 2013. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you mu enter subtracted or negative numbers use a minus sign. Question not attempted. Epicenter Laundry Score: 0/50 Statement of Owner's Equity (Label) 1 2 3 5 Points: 0/11 Balance Sheet Shaded cells have feedback. X 5. Prepare a balance sheet as of June 30, 2013. Fixed assets must be entered in order according to account number. 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. You will not need to enter colons (1) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all values as positive amounts. Question not attempted. Epicenter Laundry Score: 0/114 Balance Sheet (Label) Assets 2 Label) 3 4 5 6 1 (Label) 8 9 10 11 12 Liabilities 13 Label) 14 15 16 17 Owner's Equity 18 19 Points: 0/30 Post-closing Trial Balance 7. Prepare a post-closing trial balance. Question not attempted. Score: 0/35 Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2093 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance + Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 3 Sophie Perez, Capital 9 Totals