T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; codonal end-of-period spreadsheet The uradjusted trial balance of La Mesa Laundry at August 31, 20YS, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 2015 Debit Credit Balances Balances Cash 3,800 Laundry Supplies 9,000 Prepeld turence 6,000 Laundry Equipment 180,800 Accumulated Depreciation 49,200 Accounts Payabla 7,800 Bobbi Downey, Capital 95,000 Bobbi Danny Drawing 2,400 Laundry Reveru 248.000 Wages Expense 135,800 Rent Expense 13,200 des Experse 10,000 Miscellaneous Expense 3,000 400,000 400,000 The data needed to determine year-end adjustments are as follows: a wages secund but not paid at August 31 are $2,200 b. Depreciation of equipment during the years $8.150. C: d. Insurance premiums axpired during the year are $5,200 Required: 1. The beginning account be ances from the uradjusted trial balance, as of August 31st, have been entered in the Taccount in part 3 below. The Taccounts will be used in parts 3 and 6 2. (Optional) Enter the uradjusted trial balance on an crd-of-period spreadsheet and complete the spreadsheet 3. Journalize the adjusting entries. Then, post the entries in the accounts below. Adjustments are lontificd by Ad!', the new balances as "Adj. Bal." and closing cntrix Clos" at an amount box does not require an entry. Icave it blank. Date Account Debit Credit 1 Wages Expense Wages Payable Depreciation Expanse Accumulated Depreciation O II III C. Laundry Supplies Expanse Laundry Supplies d. Insurance Expense Prepaid Insurance v The Taccounts below are used to complete the posting requirements for pert 3 and 6. Cash Aug. 31 B. 3.800 Laundry Supplies Aug, 31 Bal. 9,000 Aug. 31 Adj. Aug. 31 Adj. Bal. Prepaid Insurance Aug. 31 Bal. 6,000 Aug. 31 Adj. Aug. 31 Adj. Bal. Laundry Equipment 180,000 Aug 31 Bal 49,200 Accumulated Depreciation Aug. 31 Bal. Aug. 31 Adj. Aug 31 Adj. Bal. Accounts Payable Aug. 31 7,600 Wages Payable Aug, 31 Ad). Bobbi Downey, Capital Aug 31 Clos. Aug 31 SL 95.000 Aug. 31 Clos. Aug. 31 Bal. Bobbl Downey, Drawing 2,400 Aug 31 Class Aug. 31 Ral Laundry Revenue Aug. 31 Clos. Aug. Bal 216,000 Wages Expense 135,800 Aug. 31 Clos. Aug. 31 Bal. Aug. 31 Adj. Aug. 31 Adj. Bal. Rent Expense 43,200 Aug. 31 Clos. Aug. 31 Bal. Utilities Expense 16,000 Aug. 31 Clos. v Aug. 31 Bal. Depreciation Expense Aug. 31 Adj. Aug. 31 Clos. Laundry Supplies Expense Aug. 31 Adj. Aug. 31 Clos. Insurance Expense Aug. 31 Clos. Aug. 31 Adj. Miscellaneous Expense 3,000 Aug. 31 Clos. Aug. 31 Bal. Prepare a statement of crner's equity (nu aciditional investments were made during the year) La Mesa Laundry Statement of Owner's Equity For the Year Ended August 31, 2045 Bobbl Downey, capital, September 1, 2014 Net Income for the year withdrawals Increase in owner's equity v Bobbi Downey, capital, August 31, 2045 Prepare a balance sheet La Musa Laundry Balance Sheet August 31, 2015 Assets Uabilities Current assets: Current liabilities: Cash Accounts payable Laundry supplies Wages payable Prepaid Insurance v Total liabili Total current assets Froperty, plant, and equipment: Owner's Ecuty Laundry equipment Bobbi Downey, capital Less accumulated depreciation v Total property, plant, and equipment Total assets Total liabilities and owner's equity 6. Journalize the desing entries. If an amount box does nct require an enty, leave it blank. Then post the entries to the accounts in part 3 above Account Debit Credit Date ke revenues, es & incamelos Laundry Revenue v Wagas Experts Rent Expanse Utilities Expo Depreciation Expanse Laundry Supplies Expanse Insurance pune Mines Expanse Bobbi Downey, Capital Close drawing Bobbi Downey, Capital Bobbi Downey, Drawing 7. Prepare a post-closing trial balance. If an amount box does not require an entry, leave it blank. La Mesa Laundry Post-Closing Trial Balance August 31, 2015 Debit Balances Credit Balances Cash Laundry Supplies Prepaid Insurance Laundry Equipment Accumulated Depreciation Accounts Payable Wages Payable Bobbi Downey, Capital