Please Help. (ch.4 app) (pr.04-03)

journal has 9 rows

income statement has 11 rows

Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 2019, the end of the fiscal year, follows Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,000.00 21,500.00 9,600.00 232,600.00 2 Laundry Supplies 3 Prepaid Insurance + Laundry Equipment $ Accumulated Depreciation 6. Accounts Payable 7 Sophie Perez, Capital 8. Sophie Perez, Drawing 9 Laundry Revenue 125,400.00 11,800.00 105,600.00 10,000.00 232,200.00 Instructions 10 Wages Expense 125,200.00 40,000.00 11 Rent Expense 12 Utilities Expense 1 Miscellaneous Expense 19,700.00 5400.00 14 Totals 475,000.00 475,000.00 The data needed to determine year-end adjustments are as follows Laundry supplies on hand at June 30 are $3,600 Insurance premiums expired during the year are $5700 Depreciation of taundry equipment during the year is $6,500 Waves accrued but not paid at June 30 are $1,100 Required: 1 For each account listed in the unachusted a balance enter the balance in a T account Identity the balance as B 2 (Optional) on your own paper or spreadsheet enter the unadusted trial balance on an end of period worksheel and complete the worksheet Instructions Chart of Accounts Labels and Amount Descriptions TAccounts Work Sheet Journal Instructions Laundry supplies on hand at June 30 are $3,600 Insurance premiums expired during the year are $5,700 Depreciation of laundry equipment during the year is $6,500 Wages accrued but not paid at June 30 are 1,100 Required: 1. For each account sted in the unadjusted trial balance, enter the balance in a T account Idently the balance as "Bal" 2 (Optional) on your own paper or spreadsheet enter the unadjusted trial balance on an end of period work sheet and complete the worksheet 3. a Journalce the adjusting entries on page 10 of the oumal Acusting entries are recorded on June 30 b. Post the adjusting entries in the accounts, identity the adjustments by "Ad and the new balances as "Ad Bar (Be sure to add a posting reference to the Journal 4 Prepare an adjusted trial balance 5. Prepare an income statement a statement of owner's equity and a balance sheer" 6. a Joumalize the closing entries on page 11 of the journal b Post the closing entries in the accounts, identity the closing entries by Clos" (Be sure to add a posting reference to me ouma) 7. Prepare a post.closing fra balance "Be sure to read the instructions for each financial statement carefully ASSETS REVENUE 11 Cash 41 Laundry Revenue 13 Laundry Supplies 14 Prepaid Insurance EXPENSES 16 Laundry Equipment 51 Wages Expense 17 Accumulated Depreciation 52 Rent Expense 53 Utilities Expense LIABILITIES 54 Laundry Supplies Expense 21 Accounts Payable 55 Depreciation Expense 22 Wages Payable 56 Insurance Expense 59 Miscellaneous Expense EQUITY 31 Sophie Perez, Capital 32 Sophie Perez, Drawing 33 Income Summary TAccounts 1 For each account listed in the unadjusted trial balance enter the balance in the appropriate account Identify the balance as "Bal" 3b Post the adjusting entries Identify the adjustments by "Adj " and the new balances as 'Adj Bal 6b Post the closing entries in the accounts, identify the closing entries by "Clos (Be sure to add a posting reference to the journal) Cash (Acct. 11) Laundry Supplies (Acct. 13) Prepaid Insurance (Acct. 14) T Accounts Laundry Equipment (Acct. 16) Accumulated Depreciation (Acct. 17) Accounts Payable (Acct. 21) Wages Payable (Acct. 22) Sophie Perez, Capital (Acct. 31) TAccounts Sophie Perez, Drawing (Acct. 32) Laundry Revenue (Acct. 41) Wages Expense (Acct. 51) Rent Expense (Acct. 52) Utilities Expense (Acct. 53) TAccounts Utilities Expense (Acct. 53) Laundry Supplies Expense (Acct. 54) Depreciation Expense (Acct. 55) Insurance Expense (Acct. 56) Miscellaneous Expense (Acct. 59) Journal 3a Journalize the adjusting entries on page 10 of the journal Agusting entries are recorded on June 30 6 a Journalize the closing entries on page 11 of the journal (Note: Complete the adjusted trial balance, the income statement, the statement of owner's equity and the balance sheet BEFORE completing part 6 a) PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTRE DET CREDIT ASSETS LIABILITIES EQUITY Adjusting Entries 5 7 Adjusted Trial Balance 4. Prepare an adjusted trial balance Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Sophie Perez, Capital 9 Sophie Perez, Drawing 10. Laundry Revenue Adjusted Trial Balance 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Sophie Perez, Capital 9 Sophie Perez, Drawing 10 Laundry Revenue 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Laundry Supplies Expense 15 Depreciation Expense 16 Insurance Expense 17 Miscellaneous Expense 18 Totals Income Stvorent 6 Prepare an income statement for the year ended June 30, 2019. Ha nel loss has been mcurred, enter that amount as a negative number using a minus sign Be sure to complete the statement headng Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons() on the income statement Epicenter Laundry Income Statement Label) 1 Statement of Ownet's Equity 5. Prepare a statement of owner's equity for the year ended June 30, 2019 No additional investments were made duning the year For those boxes in which you must enter subtracted or negar numbers use a muus sign Be sure to complete the statement heading Use the list of Labels and Amount Descriptions for the correct wording of text items Epicenter Laundry Statement of Owner's Equity (Label) 1 2 1 5 Balance Sheet 5 Prepare a balance sheet as of June 30 2019 Fixed assets must be entered in order according to account number Be sure to complete the statement heading Use the is Amount Descriptions for the correct wording of text items other than account names You will not need to enter colons() or the word 'less on the balance sheet they will al where necessary Epicenter Laundry Balance Sheet (Label Assets 2 (tabel) 3 4 5 Label Balance Sheet 6 7 Label) 8 9 10 11 12 Liabilities 13 (Label) 14 15 16 17 Owner's Equity 18 1 19 Post-closing Trial Balance 7 Prepare a post-closing trial balance Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Sophie Perez, Capital 9 Totals