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T accounts, adjusting entries, financial statements, and closing entries The unadjusted trial balance of La Mesa Laundry at August 3 1 , 2 0 Y
T accounts, adjusting entries, financial statements, and closing entries
The unadjusted trial balance of La Mesa Laundry at August Y the end of the fiscal year, follows:
La Mesa Laundry
Unadjusted Trial Balance
August Y
Line Item Description Debit
Balances Credit
Balances
Cash
Laundry Supplies
Prepaid Insurance
Laundry Equipment
Accumulated Depreciation
Accounts Payable
Common Stock
Retained Earnings
Dividends
Laundry Revenue
Wages Expense
Rent Expense
Utilities Expense
Miscellaneous Expense
Total
The data needed to determine yearend adjustments are as follows:
Wages accrued but not paid at August are $
Depreciation of equipment during the year is $
Laundry supplies on hand at August are $
Insurance premiums expired during the year are $
Required:
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 Bal. T accounts for Wages Payable, Depreciation Expense, Laundry Supplies Expense, and Insurance Expense have been added below.
Optional Enter the unadjusted trial balance on an endofperiod spreadsheet and complete the spreadsheet. Add the accounts listed in part as needed.
Journalize and post the adjusting entries. Identify the adjustments by Adj and the new balances as Adj Bal.
Adjusted Trial Balance
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