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please create: general journal, adjusted trial balance, income statement, statment of stockholders' equity, balance sheet, and post closing trial balance The unadjusted trial balance of
please create: general journal, adjusted trial balance, income statement, statment of stockholders' equity, balance sheet, and post closing trial balance
The unadjusted trial balance of Epicenter Laundry at June 30,20Y6, the end of the fiscal year, follows: \begin{tabular}{|r|l|r|r|} \hline Instructions & 125,400,00 \\ \hline 5 & Accumulated Depreciation & 11,800.00 \\ \hline 6 & Accounts Payable & & 40,000,00 \\ \hline 7 & Common Stock & & 65,600.00 \\ \hline 1 & Retained Earnings & 5,000.00 & \\ \hline 9 & Dividends & & 232,200.00 \\ \hline 10 & Laundry Revenue & 125,200.00 & \\ \hline 11 & Wages Expense & 40,000.00 & \\ \hline 12 & Rent Expense & 19,700.00 & \\ \hline 15 & Utilities Expense & 5,400.00 & \\ \hline 14 & Miscellaneous Expense & 475,000.00 & 475,000.00 \\ \hline 15 & Totals & \\ \hline & & \\ \hline \end{tabular} Note: Downlaad the spreadsheet on the TAcoounts panel, saving the Excel file to your computer. Be sure fo save your work in Excel. The spreadsheet input will not be included in your grade in CengageNoW on this problem. 1. For each account listed in the unadjusted irlal balance, enter the balance in a T account. Ldenbity the balance as "Bat" 2. Using the Excel spreadsheet downlaaded trom the T Accounts panel, click the Work Sheet tab. Entor the unadjusted trial balance on the end: of-period work sheet and complete the work sheot. 3. a. Journalize the adjusting entries on page 10 of the journal. Adjusting entries are recorded on June 30. 3. b. Post the adjusting entries. In the T acoounts, identily the adjustments by "Adf." and the new balances as "Adf Bal." 4. Prepare an adjusted trial balance. 5. a. Prepare an income statement for the year ended June 30,20Y6. 5. b. Prepare a statement of stockholdors 'equity for the year ended June 30, 20V6. During the year ended June 30, 20 Y6, additional common stock of $7,500 was issued. 5. c. Prepare a balance sheet as of June 30, 20V. 6. a. Joumalize the closing entries on page 15 of the fournal (Note: Complete the adjusted trial balance, the income statement, the statement of stockholders' equity, and the batance sheet BEFORE completing part 6, a) 6. b. Post the closing entries. In the Taccounts, idenbiy the closing entries by "Clos." 7. Prepare a post-closing trial balance The data needed to determine year-end adjustments are as follows: (a) Laundry supples on hand at June 30 are $8,600. (b) Insurance promiums expired during the year are \$5,700. (c) Depreciation of laundry equpenent during the yoar is $6,500. (d) Wages accrued but not paid at June 30 are $1,100. Required: Note: Downloud the spreadsheet on the T Accounts panel, saving the Excel fle fo your computer, Be sure fo save your work in Excel. The spreadsheet irput will not be included in your grade in CengageNOW on this probiem. 1. For each account listed in the unadjusted trial batance, enter the batance in a T account. Nentify the balance as "Bal." 2. Using the Excol sproadsheef downloaded from the T Accounts panel click the Work Sheof tab. Enter the unadjusted irial balance on the end. of-period work sheot and complate the work sheet. 3. a. bumalize the adjusting entries on page to of the fournal. Adjusting entries are recordection une 30. 3. b. Post the adjusting entries. in the Taccounts, idontity the adfustments by "Ad," and ine new balances as " Ad. Baf." 4. Prepare an acjusted triar balance. 5. a. Prepare ar income statement for the year ended June 30. 20YG Step by Step Solution
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