Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 2018, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2 Laundry Supplies 21,500.00 3 Prepaid Insurance 9,600.00 4 Laundry Equipment 232,600.00 5 Accumulated Depreciation 125,400.00 6 Accounts Payable 11,800.00 7 Common Stock 40,000.00 8 Retained Earnings 65,600.00 Instructions 9 Dividends 10,000.00 10 Laundry Revenue 232,200.00 11 Wages Expense 125,200.00 12 Rent Expense 40,000.00 19,700.00 13 Utilities Expense 14 Miscellaneous Expense 5,400.00 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 $3,600. B. Insurance premiums expired during the year are $5,700. C. Depreciation of laundry equipment during the year is $6,500 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. Journalize the closing entries on page 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles. (Note: Complete the adjusted trial balance, the income statement, the retained earnings statement, and the balance sheet BEFORE completing part 6. a.) PAGE 10 PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 3 4 5 6 Adjusted Trial Balance Epicenter Laundry Score: 67/75 ADJUSTED TRIAL BALANCE June 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2 Laundry Supplies 3,600.00 3 Prepaid Insurance 3,900.00 4 Laundry Equipment 232,600.00 5 Accumulated Depreciation 131,900.00 6 Accounts Payable 11,800.00 7 Wages Payable 1,100.00 8 Common Stock 105,600.00 9 Retained Earnings 12.00 10 Dividends 7,778.00 UNLOCK 102,000.00 9 Retained Earnings 12.00 10 Dividends 7.778.00 11 Laundry Revenue 232,200.00 12 Wages Expense 126,300.00 13 Rent Expense 40,000.00 14 Utilities Expense 19,700.00 15 Laundry Supplies Expense 17,900.00 16 Depreciation Expense 6,500.00 17 Insurance Expense 5,700.00 18 Miscellaneous Expense 5,400.00 19 Totals 482,600.00 482,600.00 Points 17.87 / 20 Balance Sheet Shaded cells have feedback. X order according to account number. Be sure to complete the statement heading. You will not need to enter colons() on the balance 5. c. Prepare a balance sheet as of June 30, 2018. Fixed assets must be entered sheet; they will automatically insert where necessary. 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. For those boxes in which you must enter subtracted or negative numbers use a minus sign Epicenter Laundry Score: 127/135 Balance Sheet June 30, 2018 1 Assets 2 Current assets: 3 Cash $11,000.00 4 Prepaid insurance 3,900.00 5 Laundry supplies 3,600.00 Total current assets $18,500.00 Property, plant, and equipment: Balance Sheet 8 & Laundry equipment $232,600.00 9 Accumulated depreciation (131,900.00) 10 Total property, plant, and equipment 100,700.00 11 Total assets $119,200.00 12 Liabilities 13 Current liabilities: 14 Accounts payable $11,800.00 15 Wages payable 1,100.00 16 Total Liabilities $12,900.00 17 Stockholders' Equity 18 Common stock $40,000.00 19 Retained earnings 97,500.00 20 Total stockholders' equity 137,500.00 21 Total Liabilities and stockholders' equity $119,200.00 POST-CLOSING TRIAL BALANCE June 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 2 Laundry Supplies 3,600.00 3 Prepaid Insurance 3,900.00 Laundry Equipment 232,600.00 5 Accumulated Depreciation 131,900.00 6 Accounts Payable 11,800.00 7 Wages Payable 1,100.00 8 Common Stock 40,000.00 9 Retained Earnings 65,600.00 10 Totals 251,100.00 251,100.00 Points 10.15 / 11