The unadjusted trial balance of Epicenter Laundry at June $30,2076,$ the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June $30,2016$ ACCOUNT TITLE DEBIT CREDIT $1$ Cash $11,000\mathrm{.}0026,500\mathrm{.}009,600\mathrm{.}00232,600\mathrm{.}002$ Laundry Supplies $3$ Prepaid Insurance $+$ Laundry Equipment $5$ Accumulated Depreciation $6$ Accounts Payable $7$ Common Stock $125,400\mathrm{.}00$ ho $11,800\mathrm{.}0040,000\mathrm{.}00$ & Retained Earnings $65,600\mathrm{.}009$ Dividends $5,000\mathrm{.}00232,200\mathrm{.}00125,200\mathrm{.}0010$ Laundry Revenue $11$ Wages Expense $12$ Rent Expense $13$ Utilities Expense $14$ Miscellaneous Expense $40,000\mathrm{.}0019,700\mathrm{.}005,400\mathrm{.}0015$ Totals $475,000\mathrm{.}00475,000\mathrm{.}00$ The data needed to determine year$-$end adjustments are as follows: A$.$ Laundry supplies on hand at June $30$ are $$8,6008.$ Insurance premiums expired during the year are $85,700$ C$.$ Depreciation of laundry equipment during the year is $$6,500$ D$.$ Wages accrued but not paid at June $30$ are $$1\mathrm{.}100$ Required: Note: Download the spreadsheet on the Accounts panel, saving the Excel file to your computer. Be sure to save your work in Excel. The spreadsheet input will not be included in your grade in CengageNow on this problem $1.$ For each account listed in the unadjusted trial balance, enter the balance in a T account Identity the balance as "Bal." $2.$ Using the Excel spreadsheet downloaded from the T Accounts panel, click the Work Sheet tab. Enter the unadjusted trial balance on the end. of$-$period work sheet and complete the work sheet. $3.$a$.$ Journalize the adjusting entries on page $10$ of the journal. Adjusting entries are recorded on June $30.$ Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a posting reference to the journal $3\mathrm{.}1.$ Post the adjusting entries. In the accounts, identify the adjustments by "Ady and the new balances as $"$Ad Bal." $4.$ Prepare an adjusted trial balance $5.$ a$.$ Prepare an income statement for the year ended June $30,200,$ Ifa net loss has been incurred, enter that amount as a negative number using a minus sign Be sure to complete the statement heading. You will not need to enter colons$()$ on the income statement Refer to the Chart of Accounts for exact wording of account bites. Refer to the Nats of Labela and Amount Descriptions for exact wording of the answer choices for text entries other than account names $5\mathrm{.}6.$ Prepare a statement of stockholders equity for the year ended June $30,2016.$ During the year ended June $30,2076,$ additional common stock of $$7,500$ was issued. If a net loss is incurred or dividends were paid enter that amount as a negative number using a minus sign Be sure to complete the statement heading Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names $1.$ For each account listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance as "Bal. $2$ Using the Excel spreadsheet downloaded from the T Accounts panel, click the Work Sheet tab. Enter the unadjusted trial balance on the end$-$ of$-$period work sheet and complete the work sheet $3.$ a Journalize the adjusting entries on page $10$ of the journal. Adjusting entries are recorded on June $30.$ Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a posting reference to the journal $3\mathrm{.}1.$ Post the adjusting entries in the accounts, identify the adjustments by $"$Ad$."$ and the New balances as $"$Ad$.$Bal." $4.$ Prepare an adjusted trial balance. $5$ a Prepare an income statement for the year ended June $30,2016.$ If a net loss has been incurred, enter that amount as a negative number using a minus sign Be sure to complete the statement heading. You will not need to enter colons$()$ on the income statement. Refer to the Chart of Accounts for exact wording of account hitles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names $5$ b$.$ Prepare a statement of stockholders equity for the year ended June $30,20$Y$6.$ During the year ended June $30,2076,$ additional common stock of $$7,500$ was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names $5.$ c$.$ Prepare a balance sheet as of June $30,2016.$ Fixed assets must be entered in order according to account number. Be sure to complete the statement heading You will not need to enter colons$()$ on the balance sheet, they will automatically insert where necessary Refer to the Chart of Accounts for exact wording of account miles. Refer to the Mats of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. For those boxes in which you must enter subtracted or negative numbers use a minus sign $6\mathrm{.}0.$ Journalize the closing entries on page $11$ of the journal. Refer to the Chart of Accounts for exact wording of account hitles. Be sure to add a posting reference to the Journal $($Note: Complete the adjusted trial balance, the income statement, the statement of stockholders' equity, and the balance sheet BEFORE completing part $6$: a$)6\mathrm{.}6.$ Post the closing entries. In the accounts, Identity the closing entries by "Clos" $7$ Prepare a post.closing trial balance Chart of Accounts CHART OF ACCOUNTS Epicenter Laundry General Ledger ASSETS REVENUE $11$ Cash $41$ Laundry Revenue $13$ Laundry Supplies $14$ Prepaid Insurance $17$ Laundry Equipment $18$ Accumulated Depreciation EXPENSES $>$ LIABILITIES $21$ Accounts Payable $22$ Wages Payable $51$ Wages Expense $52$ Rent Expense $53$ Utilities Expense $54$ Laundry Supplies Expense $55$ Depreciation Expense $56$ Insurance Expense $59$ Miscellaneous Expense EQUITY $31$ Common Stock $32$ Retained Earnings $33$ Dividends Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Year Ended June $30,20$Y$6$ June $30,2046$ Property, plant, and equipment Amount Descriptions Balances, July $1,2045$ Balances, June $30,20$Y$6$ Dividends Issued common stock Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total stockholders' equity $1$ Note: Download the SPREADSHEET saving the Excel Me to your computer Be sure to save your work in Excel. The spreadsheet input will not be included in your grade in CengageNOW on this problem For each account listed in the unadjusted trial balance, enter the balance in a T account. Identity the balance as "Bal." Post the adjusting entries. In the accounts, Identity the aqustments by "Adj." and the new balances as $"$Ad Bal $6\mathrm{.}1.$ Post the closing entries. In the accounts, identify the adjustments by "Clos" $3.$ Work Sheet $2.$ Using the Excel spreadsheet downloaded from the Accounts panel, click the Work Sheet tab. Enter the inequated trial balance on the end of period work sheet and complete the worksheer Journal $3.$ a$.$ Journalize the adjusting entries on page $10$ of the journal Adjusting entries are recorded on June $30$ Refer to the Chart of Accounts for exact wording of account titles $6.$ a Journalce the closing entries on page $11$ of the journal. Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a posting reference to the journal $($Note: Complete the adjusted trial balance, the income statement, the statement of stockholders' equity, and the balance sheer BEFORE completing part $6.$ a$)$ Journal $3.$ a$.$ Journalize the adjusting entries on page $10$ of the journal Adjusting entries are recorded on June $30$ Refer to the Chart of Accounts for exact wording of account titles $6.$ a$.$ Journace the closing entries on page $11$ of the journal. Refer to the Chart of Accounts for exact wording of account bles. Be sure to add a posting reference to the journal $($Note$.$ Complete the adjusted trial balance, the income statement the statement of stockholders' equity, and the balance sheet BEFORE completing part $6.$ a$.)$ PAGE $10$ PAGE $1$ JOURNAL ACCOUNTING EQUATION DATE POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Adjusting Entries BGE $10$ PAGE $11$ ACCOUNTING EQUATION JOURNAL CREDIT POST REF ASSETS EQUITY DEBIT DATE LIABILITIES DESCRIPTION Closing Entries $1094.$ Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank Epicenter Laundry ADJUSTED TRIAL BALANCE June $30,2046$ ACCOUNT TITLE DEBIT CREDIT $1$ Cash $2$ Laundry Supplies $3$ Prepaid Insurance $4$ Laundry Equipment $5$ Accumulated Depreciation $6$ Accounts Payable $7$ Wages Payable $8$ Common Stock $9$ Retained Earnings $10$ Dividends $11$ Laundry Revenue $12$ Wages Expense $13$ Rent Expense $14$ Utilities Expense $15$ Laundry Supplies Expense $+$ Laundry Equipment $5$ Accumulated Depreciation $6$ Accounts Payable $7$ Wages Payable $8$ Common Stock $9$ Retained Earnings $10$ Dividends $11$ Laundry Revenue $12$ Wages Expense $13$ Rent Expense $14$ Utilities Expense $15$ Laundry Supplies Expense $16$ Depreciation Expense $17$ Insurance Expense $18$ Miscellaneous Expense $19$ Totals $5.$ a$.$ Prepare an income statement for the year ended June $30,20$Y$6.$ Ma net loss has been incurred, enter that amount as a negative number using a minus sign Be sure to complete the statement heading. You will not need to enter colons$()$ on the income statement. Refer to the Chart of Accounts for exact wording of account titles Refer to the list of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names Epicenter Laundry Income Statement $($Label $***2$ Label $3411011$ Statement of Stockholders Equity $50.$ Prepare a statement of stockholdere equity for the year ended June $30,2018$ During the year anded June $30,2016$ additional common stock of $87500$ was issued. tranet tone in incured or dividends were pendanter that amount as a negative number using a minus sign. Be sure to complete the statement eaching Refer to the Chart of Accounen for exact wording of account titlen. Rolor to the lots of Label and Amount Descriptions for exact wording of the answer choices for text entries other than countament Epicenter Laundry Statement of Stockholders' Equity $($Label Common Stock Retained Eatings Total $5.$ Prepare a balance sheet as of June $30,2016,$ Fired assets must be entered in order according to account number. Be sure to complete the statement heading, you ww not need to enter calon $()$ on the balance sheet they will automaticaly insert where necessary. Refer to the Chart of Accounts for exact wording of account ones Refer to the vote of Lovels and Amount Descriptions for exact wording of the answer choices for text entries other than account rames. For those boves in which you must inter subtracted or negative numbers use a minus sign Epicenter Laundry Balance Sheet $($Label Assa $1$ Llabilities $1$ Assets $2($Label$)3456?($Label$)$ n $301011$ Liabilities $13($Label$)14151617$ Stockholders' Equity $18192021$ Post$-$closing Trial Balance $7.$ Prepare a post$-$closing trial balance, Epicenter Laundry POST$-$CLOSING TRIAL BALANCE June $30,2016$ DEBIT CREDIT ACCOUNT TITLE $1$ Cash $2$ Laundry Supplies $3$ Prepaid Insurance $4$ Laundry Equipment $5$ Accumulated Depreciation N $6$ Accounts Payable $7$ Wages Payable Common Stock $9$ Retained Earnings $10$ Totals