> T accounts, adjusting entries, financial statements, and closing entries The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 20Y5 Cash Laundry Supplies Prepaid Insurance Laundry Equipment Accumulated Depreciation Accounts Payable Chen Lee, Capital Chen Lee, Drawing Laundry Revenue Wages Expense Rent Expense Utilities Expense Miscellaneous Expense Date a. Aug. 31, 20Y5 The data needed to determine year-end adjustments are as follows: a. Wages accrued but not paid at August 31 are $2,200. b. Depreciation of equipment during the year is $8,150. c. Laundry supplies on hand at August 31 are $2,000. d. Insurance premiums expired during the year are $5,300. b. Aug. 31, 20Y5 c. Aug. 31, 20Y5 Debit Balances d. Aug. 31, 20Y5 3,800 9,000 6,000 180,800 Account 2,400 135,800 43,200 16,000 3,000 400,000 Required: 1. The following steps have already been done for you: Each account balance listed in the unadjusted trial balance has been entered into its T account below, with the identification "Aug. 31 Bal." T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, and Insurance Expense have been added below. 2. (Optional) 3. Journalize and post the adjusting entries. Identify the adjustments by "Adj." and the new balances as "Adj. Bal." Credit Credit Balances 49,200 7,800 95,000 248,000 400,000 Debit

4. Prepare an adjusted trial balance. List the accounts in order by type: Assets, Liabilities, Capital, Chen Lee, Drawing, Revenue and Expenses, If a box does not require an entry, leave it blank: Taccounts, adjusting entries, finandal statemeots, and clowieg mitries The unadjusted trial batance of La Mara Laundry at August 31, 20r5, the end of the Ficar yea, folloms. The data needed to determine year-end adjustments are as follows: a. Wages accrued but not paid at August 31 are $2,200. b. Depreciation of equipment during the year is $8,150. c. Laundry supplies on hand at August 31 are $2,000. d. Insurance premiums expired duning the year are $5,300. Required: 1. The following steps have already been done for you: Each account balance listed in the unsdjusted trial balance has been entered into at T account below, with the identificabion "Aug. 31 BaL," T accounts for Wages Payable, Depreciation Eapense, Laundry Supplies Expense, and Insurance Expense have been added below. 5. Prepore so incowe statement. Prepare a statement of owner's equity. During the year ended August, 31, 20r5, Chen Lee invested an additional $3,000 in the business. If a net loss is incurred or Chen Lee, Drawing were paid, enter that amount as a negatlye number using a minus sign. 0. journanze che coosing entries: If a box does not require an entry, leave if blask. Then post the entries to the T accouncs in part 3 above. Identify the dosing entries by "Clos." Provide the ending balance for the Chen Lee, capital account, and identify it by "Bal." 7. Prepare a post-closing trial balance. List the accounts in order by type: Assets, Lubilities, Capital, Oven Lee, Drawing. Rievenue and Expenses. If a box does not require an entry, leave it blank. The T accounts below are used to complete the posting requirements for port 3 and G : Prepaid Insurance Laundry Equipment Avg. 31 Bal. 180,800 Accumulated Depreciation Accounts Payable Aug. 31 Bal. 7,800 Wages Payable Chen Lee, Capital Chen Lee, Drawing Aug. 31 Bal. 2,400 Laundry Revenue