Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 20Y6, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2046 ACCOUNT TITLE DEET CREDIT 1 Cash 11,000.00 2 Laundry Supplies 26,500.00 3 Prepaid Insurance 9,600.00 Laundry Equipment 232,600.00 s Accumulated Depreciation 125,400.00 6 Accounts Payable 11,800.00 40,000.00 Common Stock & Retained Earnings 65,600,00 9 Dividends 5,000.00 10 Laundry Revenue 232,200.00 11 Wages Expense 125,200.00 12 Rent Expense 40,000.00 13 Utilities Expense 19,700.00 5,400.00 14 Miscellaneous Expense 15 Totals 475,000.00 475,000.00 The data needed to determine year-end adjustments are as follows: A Laundry supplies on hand at June 30 are $8.800. B. Insurance premiums expired during the year are $5,700. C. Depreciation of laundry equipment during the year is $8,500. D. Wages accrued but not paid at June 30 are $1,100. Journal 3. a. Journalize the adjusting entries on page 10 of the journal Adjusting entries are recorded on June 30. Refer to the Chart of Accounts for exact wording of account titles. 6. a. Joumalize the closing entries on page 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a posting reference to the journal (Note: Complete the adjusted trial balance, the income statement, the statement of stockholders'equity, and the balance sheet BEFORE completing part 6. a.) PAGE 10 PAGE 11 JOURNAL ACCOUNTING EQUATION DATE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Adjusting Entries Adjusted Trial Balance 4. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 2046 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Common Stock 9 Retained Earnings 10 Dividends 1: Laundry Revenue 12 Wages Expense 13 Rent Expense 14 Utilities Expense 15 Laundry Supplies Expense 16 Depreciation Expense 17 Insurance Expense 19 Miscellaneous Expense 19 Totals Income Statement 5. a. Prepare an income statement for the year ended June 30, 2016. If a net loss has been incurred, enter that amount as a negative number using a minus sign Be sure to complete the statement heading. You will not need to enter colons() on the income statement. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. Epicenter Laundry Income Statement (Label) 2 Label)
