La Mesa Laundry

Unadjusted Trial Balance

August 31, 2019Debit BalancesCredit Balances

Cash3,800Laundry Supplies9,000Prepaid Insurance6,000Laundry Equipment180,800Accumulated Depreciation49,200Accounts Payable7,800Bobbi Downey, Capital95,000Bobbi Downey, Drawing2,400Laundry Revenue248,000Wages Expense135,800Rent Expense43,200Utilities Expense16,000Miscellaneous Expense3,000400,000400,000

The data needed to determine year-end adjustments are as follows:

1. Wages accrued but not paid at August 31 are $2,200.
2. Depreciation of equipment during the year is $8,150.
3. Laundry supplies on hand at August 31 are $2,000.
4. Insurance premiums expired during the year are $5,300.

The T accounts below are used to complete the posting requirements for part 3 and 6.

CashAug. 31 Bal.3,800

Laundry SuppliesAug. 31 Bal.9,000Aug. 31 Adj. Bal.

Aug. 31 Clos.

Prepaid InsuranceAug. 31 Bal.6,000Aug. 31 Adj.

Aug. 31 Clos.

Laundry EquipmentAug. 31 Bal.180,800

Accumulated DepreciationAug. 31 Bal.49,200Aug. 31 Adj.

Aug. 31 Adj. Bal.

Accounts PayableAug. 31 Bal.7,800

Wages PayableAug. 31 Clos.

Bobbi Downey, CapitalAug. 31 Bal.

Aug. 31 Bal.95,000Aug. 31 Adj.

Aug. 31 Bal.

Bobbi Downey, DrawingAug. 31 Bal.2,400Aug. 31 Bal.

Laundry RevenueAug. 31 Clos.

Aug. 31 Bal.248,000

Wages ExpenseAug. 31 Bal.135,800

Rent ExpenseAug. 31 Bal.43,200

Utilities ExpenseAug. 31 Bal.16,000

Depreciation Expense

Laundry Supplies Expense

Insurance Expense

Miscellaneous ExpenseAug. 31 Bal.3,000