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help me with the wrong ones please T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La
help me with the wrong ones please
T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 2015, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 2015 Debit Balances Credit Balances Cash 3,800 9,000 6,000 Laundry Supplies Prepaid Insurance Laundry Equipment Accumulated Depreciation Accounts Payable 180,800 49,200 7,800 Common Stock 15,000 80,000 2,400 248,000 Retained Earnings Dividends Laundry Revenue Wages Expense Rent Expense Utilities Expense 135,800 43,200 16,000 Miscellaneous Expense 3,000 Dividends Laundry Revenue 248,000 Wages Expense 135,800 Rent Expense 43,200 Utilities Expense 16,000 Miscellaneous Expense 3,000 400,000 400,000 The data needed to determine year-end adjustments are as follows: a. Wages accrued but not paid at August 31 are $2,200. b. Depreciation of equipment during the year is $8,150. 1. Laundry supplies on hand at August 31 are $2,000. d. Insurance premiums expired during the year are $5,300. Required: 1. The following steps have already been done for you: Each account balance listed in the unadjusted trial balance has been entered into its T account below, with the identification "Aug. 31 Bal." T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, and Insurance Expense have been added below. 2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadshee 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." venue and Expenses, fa box does not require an entry, leave it La Mesa Laundry Adjusted Trial Balance August 31, 2045 Debit Balances Credit Balances ash v 3,800 aundry Supplies 2,000 700 repaid Insurance aundry Equipment 180,800 Accumulated Depreciation 57,350 Accounts Payable 7,800 x 7,800 Wages Payable v 2,200 15,000 Common Stock Retained Earnings 80,000 Dividends 2,400 Laundry Revenue v 248,000 Step by Step Solution
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