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 2 Laundry Supplies 21,500.00 3 Prepaid Insurance 9,600.00 * Laundry Equipment 232,600.00 Accumulated Depreciation 125,400.00 11,800.00 105,600.00 Accounts Payable Sophie Perez, Capital Sophie Perez, Drawing 9 Laundry Revenue Wages Expense 10,000.00 232,200.00 125,200.00 Rent Expense 40,000.00 Chart of Accounts Labels and Amount Descriptions T Accounts Work Sheet Journal Adjust Instructions Utilities Expense 19,700.00 3 Miscellaneous Expense 5,400.00 475,000.00 Totals 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 55,700. 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 listed in the unadjusted trial balance, enter the balance in a T account. Identify the balance ar "Bal 2 Optional) on your own paper or apreadsheet enter the unadjusted trial balance on an end-ofperiod work sheet and compliate the work sheet 2 a Journalize the adjusting entries on page 10 of the journal Adjusting entries are recorded on June 30 Poat the aquating entries. In the accountaidentify the adjustments by "Ad and the new balances as "Ad Bal" (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 balance sheet. 4. Prepare an adjusted trial balance 5. Prepare an income statement a statement of owner's equity and a balance sheet 8. a Joumalize the closing entries on page 11 of the joumal d. Post the closing entries. In the accounts, identify the closing entries by "Clos" (Be sure to add a posting reference to the journal) 7. Prepare e post-closing trial balance Be sure to read the instructions for each financial statement carefully CHART OF ACCOUNTS Epicenter Laundry General Ledger 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 56 Insurance Expense 22 Wages Payable 59 Miscellaneous Expense EQUITY 31 Sophie Perez. Capital 32 Sophie Perez. Drawing 33 Income Summary Taccounts, adjusting entries, financial statements, and closing entries; optional en Instructions Chart of Accounts TAccou x Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Year Ended June 30, 2019 June 30, 2019 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Sophie Perez, capital, June 30, 2019 Sophie Perez, capital, July 1. 2018 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Check My Work 3 more Check My Work uses remaining All work saved. ts, adjusting entries, financial statements, and closing entries; optional end-of-period spreadsheet actions Chart of Accounts T Accounts Work Sheet Journal Adjusted T Accounts 1. For each account listed in the unadjusted trial balance, enter the balance in the appropriate account Identify the balance as "Bal" 3.1. Post the adjusting entries. Identify the adjustments by Adj." and the new balances as "Ad Bal." 6.b. Post the closing entries. In the accounts, identify the closing entries by "Clos" (Be sure to add a posting reference to the joumal) Cash (Aoct 11) Laundry Supplies (Acct 13) Prepaid Insurance (Acct. 14) Laundry Equipment (Acct. 16) Accumulated Depreciation (Acot 17) usu wes, lal statements, and closing entries; optional end of perio structions Chart of Accounts TAccounts Wor TAccounts Accumulated Depreciation (Acct 17) Accounts Payable (Acct. 21) Wages Payable (Acct 22) Sophie Perez, Capital (Acct 31) Sophie Perez Drawing (Acct 32) Laundry Revenue (Act 41) structions Chart of Accounts TAccounts T Accounts Laundry Revenue (Acct. 41) Wages Expense (Acct. 51) Rent Expense (Acct 52) Utilities Expense (Acct. 53) Laundry Supplies Expense (Acct. 54) Depreciation Expense (Acct. 55) Istrare nones Anet ERU Insurance Expense (Acct. 56) Miscellaneous Expense (Acct. 59) counts, adjusting entries, financial statements, and closing entries: optional end-of-period spreadsheet nstructions Chart of Accounts Labels and Amount Descriptions T Accounts Work Sheet Journal Adjusted Trial Balance Journal 3.a. Journalize the adjusting entries on page 10 of the joumal Adjusting entries are recorded on June 30 6a Joumake the dang entries on page 1 of the jumat (Mode 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 PAGE 1 JOURNAL ACCOUNTING EQUATION POTT BET DENT CREDIT ASSETS LISTICS EQUITY DOCTION sting Erries 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 Laundry Equipment 5 Accumulated Depreciation Accounts Payable 1 Wages Payable Sophie Perez, Capital Sophie Perez Drawing 50 Laundry Revenue * Wages Expense Instructions Chart of Accounts Labels and Amount Descriptions Adjusted Trial Balance 2 Laundry Supplies 3 Prepaid Insurance Laundry Equipment 5 Accumulated Depreciation & Accounts Payable 7 Wages Payable Sophie Perez, Capital 9 Sophie Perez, Drawing 10 Laundry Revenue 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Laundry Supplies Expense 5 Depreciation Expense Insurance Expense 1 Miscellaneous Expense 18 Totals Check My Work 3 more Check My Work uses remaining. All work saved. usted Trial Balance Income Statement Preport an noore water for the entre 30 2018 Fannhat bother that amount as a number ang on Be sure to come theatement heading the the off Label and Amount Deptor for the core ording of the theme you wit not need to enter colonot) on the come afatement Brandy Label