The unadjusted trial balance of Epicenter Laundry at June 30, 2016, the end of the fiscal year, follows:

Epicenter Laundry

UNADJUSTED TRIAL BALANCE

June 30, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	11,000.00
2	Laundry Supplies	21,500.00
3	Prepaid Insurance	9,600.00
4	Laundry Equipment	232,600.00
5	Accumulated Depreciation		125,400.00
6	Accounts Payable		11,800.00
7	Wages Payable
8	Common Stock		40,000.00
9	Retained Earnings		65,600.00
10	Dividends	10,000.00
11	Income Summary
12	Laundry Revenue		232,200.00
13	Wages Expense	125,200.00
14	Rent Expense	40,000.00
15	Utilities Expense	19,700.00
16	Laundry Supplies Expense
17	Depreciation Expense
18	Insurance Expense
19	Miscellaneous Expense	5,400.00
20	Totals	475,000.00	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 $5,700.
	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 as Bal.
	2. (Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on an 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.
	3. b. Post the adjusting entries. In the T accounts, identify the adjustments by Adj. and the new balances as Adj. Bal. (Be sure to add a posting reference to the journal.)
	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. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.
	5. b. Prepare a retained earnings statement for the year ended June 30, 2016. If a net loss has been incurred or there has been a decrease in retained earnings, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items.
	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. Use the list of Labels and Amount Descriptions for the correct wording of text items other account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.
	6. a. Journalize the closing entries on page 11 of the journal. (Note: Complete the adjusted trial balance, the income statement, the retained earnings statement, and the balance sheet BEFORE completing part 6. a.)
	6. b. Post the closing entries. In the T accounts, identify the closing entries by Clos. (Be sure to add a posting reference to the journal.)
	7. Prepare a post-closing trial balance.