Answer Happy

Instructions The unadjusted trial balance of Epicenter Laundry at June 30, 20Y6, the end of the fiscal year, follows: Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 20Y6 ACCOUNT TITLE 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Common Stock 8 Retained Earnings 9 Dividends 10 Laundry Revenue 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Miscellaneous Expense 15 Totals DEBIT 11,000.00 26,500.00 9,600.00 232,600.00 5,000.00 125,200.00 40,000.00 19,700.00 5,400.00 475,000.00 CREDIT 125,400.00 11,800.00 40,000.00 65,600.00 232,200.00 475,000.00 The data needed to determine year-end adjustments are as follows: A. Laundry supplies on hand at June 30 are $8,600. B. Insurance premiums expired during the year are $5,700. C. Depreciation of laundry equipment during the year is $6,500. D. Wages accrued but not paid at June 30 are $1,100.

KS... KS... KS... Chart of Accounts ASSETS CHART OF ACCOUNTS Epicenter Laundry General Ledger 11 Cash 13 Laundry Supplies 14 Prepaid Insurance 17 Laundry Equipment 18 Accumulated Depreciation LIABILITIES 21 Accounts Payable 22 Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Labels and Amount Descriptions Labels Current assets Current liabilities Expenses For the Year Ended June 30, 20Y6 June 30, 2016 Property, plant, and equipment Amount Descriptions Balances, July 1, 20Y5 Balances, June 30, 2016 Dividends Issued common stock Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total stockholders' equity REVENUE 41 Laundry Revenue EXPENSES 51 Wages Expense 52 Rent Expense 53 Utilities Expense 54 Laundry Supplies Expense 55 Depreciation Expense 56 Insurance Expense 59 Miscellaneous Expense

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Adjusted Trial Balance 4. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 20Y6 ACCOUNT TITLE 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Wages Payable 8 Common Stock 9 Retained Earnings 10 Dividends 11 Laundry Revenue 12 Wages Expense 13 Rent Expense 14 Utilities Expense 15 Laundry Supplies Expense 16 Depreciation Expense 17 Insurance Expense 18 Miscellaneous Expense 19 Totals DEBIT CREDIT

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Post-closing Trial Balance 7. Prepare a post-closing trial balance 1 Cash 2 Laundry Supplies 3 Prepaid Insurance ACCOUNT TITLE Epicenter Laundry POST-CLOSING TRIAL BALANCE June 30, 2016 4 Laundry Equipment S Accumulated Depreciation 6 Accounts Payable 7 Wages Payable Common Stock Retained Earnings 10 Rocas DEBIT CREDIT