The unadjusted trial balance of La Mesa Laundry at August 31, 2016, the end of thefiscal year, follows:

La Mesa Laundry UNADJUSTED TRIAL BALANCE August 31, 2016

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.

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 August 31.
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.

Prepare an income statement, a statement of owners equity, and a balance sheet.*

6.

a.	Journalize the closing entries on page 11 of the journal.
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.

*	Be sure to read the instructions for each financial statement carefully