Question
The unadjusted trial balance of La Mesa Laundry at August 31, 2016, the end of the fiscal year, follows: La Mesa Laundry UNADJUSTED TRIAL BALANCE
The unadjusted trial balance of La Mesa Laundry at August 31, 2016, the end of the fiscal year, follows:
La Mesa Laundry
UNADJUSTED TRIAL BALANCE
August 31, 2016
ACCOUNT TITLE | DEBIT | CREDIT | |
---|---|---|---|
1 | Cash | 3,800.00 |
|
2 | Laundry Supplies | 9,000.00 |
|
3 | Prepaid Insurance | 6,000.00 |
|
4 | Laundry Equipment | 180,800.00 |
|
5 | Accumulated Depreciation |
| 49,200.00 |
6 | Accounts Payable |
| 7,800.00 |
7 | Bobbi Downey, Capital |
| 95,000.00 |
8 | Bobbi Downey, Drawing | 2,400.00 |
|
9 | Laundry Revenue |
| 248,000.00 |
10 | Wages Expense | 135,800.00 |
|
11 | Rent Expense | 43,200.00 |
|
12 | Utilities Expense | 16,000.00 |
|
13 | Miscellaneous Expense | 3,000.00 |
|
14 | Totals | 400,000.00 | 400,000.00 |
The data needed to determine year-end adjustments are as follows:
Wages accrued but not paid at August 31 are $2,200. | |
Depreciation of equipment during the year is $8,150. | |
Laundry supplies on hand at August 31 are $2,000. | |
Insurance premiums expired during the year are $5,300.
Prepare a T account, journal, income statement, adjusted trial balance, statement of owner'sequity, balance sheet,and porst closing trial balance. |
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