were an income a balance sheet. October 31. made during the year), and accounts at 2. Journalize the entries that were required to close the s115,000 would have 3. If the balance of Nicole Gorman, Capital had instead increased what ing entries were and the withdrawals remained the same, been the of net income or accounts, adjusting entries, financial statements, PR 4-38 T optional end-ofperiod spreadsheet end of the and closing entries Laundry at August 31, 2016, the The unadjusted trial balance of La Mesa fis- cal year, La Mesa Laundry Unadjusted Trial Balance 31, 2016 Balances Laundry Supplies Laundry Equipment Accumulated Depreciation Accounts Payable Bobbi Downey, Capital. Bobbi Downey, Drawing. Laundry Revenue 135,800 ties Expense The data needed to determine year-end adjustments are as f a. Wages accrued but not paid at August 31 are $2,200 b. Depreciation of equipment during the year is $8,150. c. Laundry supplies on hand at August 31 are $2,000. d. Insurance premiums expired during the year are s5,3 Instructions enter the balance in 1. For each account listed in the unadi Identify the balance as Aug. 3i Bala In addition, a T a Depreciation Expense, Laun supplies Expense. insuranceExpense and Income 2. fowieway Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. Add the accounts listed in part C) as needed. 3. Journalize and post the adjusting entries. Identity the adjustments by "Adi-" and the balances as "Adj. Bal." 4. Prepare an adjusted trial balance. 5. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 6. Journalize and post the closing entries. Identify the closing entries by "Clos." 7. Prepare a post-closing trial balance