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Credit PR 4-3A T accounts, adjusting entries, financial statements, and closing entries; optional end-of-period spreadsheet O
Completing the Accounting Cycle The data needed to determine year-end adjustments are as follows: a. Laundry supplies on hand
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Answer #1

1. & 3.

Cash Laundry Supplies
Jun. 30 Bal. 11000 Jun. 30 Bal. 21500
Jun. 30 Adj. 17900
Jun. 30 Adj. Bal. 11000 Jun. 30 Adj. Bal. 3600
Prepaid Insurance Laundry Equipment
Jun. 30 Bal. 9600 Jun. 30 Bal. 232600
Jun. 30 Adj. 5700
Jun. 30 Adj. Bal. 3900 Jun. 30 Adj. Bal. 232600
Accumulated Depreciation Accounts Payable
Jun. 30 Bal. 125400 Jun. 30 Bal. 11800
Jun. 30 Adj. 6500
Jun. 30 Adj. Bal. 131900 Jun. 30 Adj. Bal. 11800
Sophie Perez, Capital Sophie Perez, Drawing
Jun. 30 Bal. 105600 Jun. 30 Bal. 10000
Jun. 30 Adj. Bal. 105600 Jun. 30 Adj. Bal. 10000
Laundry Revenue Wages Expense
Jun. 30 Bal. 232200 Jun. 30 Bal. 125200
Jun. 30 Adj. 1100
Jun. 30 Adj. Bal. 232200 Jun. 30 Adj. Bal. 126300
Rent Expense Utilities Expense
Jun. 30 Bal. 40000 Jun. 30 Bal. 19700
Jun. 30 Adj. Bal. 40000 Jun. 30 Adj. Bal. 19700
Miscellaneous Expense Wages Payable
Jun. 30 Bal. 5400 Jun. 30 Adj. 1100
Jun. 30 Adj. Bal. 5400 Jun. 30 Adj. Bal. 1100
Depreciation Expense Laundry Supplies Expense
Jun. 30 Adj. 6500 Jun. 30 Adj. 17900
Jun. 30 Adj. Bal. 6500 Jun. 30 Adj. Bal. 17900
Insurance Expense
Jun. 30 Adj. 5700
Jun. 30 Adj. Bal. 5700

2. & 4.

Epicenter Laundry
Worksheet/Adjusted Trial Balance
June 30, 2019
Account Title Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Debit Credit Debit Credit Debit Credit
Cash 11000 11000
Laundry Supplies 21500 17900 3600
Prepaid Insurance 9600 5700 3900
Laundry Equipment 232600 232600
Accumulated Depreciation 125400 6500 131900
Accounts Payable 11800 11800
Wages Payable 1100 1100
Sophie Perez, Capital 105600 105600
Sophie Perez, Drawings 10000 10000
Laundry Revenue 232200 232200
Wages Expense 125200 1100 126300
Rent Expense 40000 40000
Utilities Expense 19700 19700
Miscellaneous Expense 5400 5400
Depreciation Expense 6500 6500
Laundry Supplies Expense 17900 17900
Insurance Expense 5700 5700
Total 475000 475000 31200 31200 482600 482600

3.

Number Account Titles and Explanation Debit Credit
(A) Laundry supplies expense ($21500 - $3600) 17900
Laundry supplies 17900
(To record laundry supplies expense)
(B) Insurance expense 5700
Prepaid insurance 5700
(To record expired insurance)
(C) Depreciation expense 6500
Accumulated Depreciation 6500
(To record depreciation on equipment)
(D) Wages expense 1100
Wages payable 1100
(To record wages accrued but not paid)

Per HOMEWORKLIB RULES the first 4 parts have been answered. Please post the remaining parts separately. Thank you.

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