Please use numbers from the following work: https://www.chegg.com/homework-help/
ID: 2588774 • Letter: P
Question
Please use numbers from the following work: https://www.chegg.com/homework-help/questions-and-answers/back-mail-1-29-15-cheggcom-unadjusted-trial-balance-epicenter-laundry-june-30-2016-end-fis-q14897723?trackid=628b6e9d&strackid=190356a3&ii=2
I will give a good review! Thank you.
Post-closing Trial Balance 7. Prepare a post-closing trial balance. Epicenter Laundry POST CLOSING TRIAL BALANCE June 30, 2019 ACCOUNT TITLE CREDIT 1 Cash 2 Laundry Supplies 3 Prepaid Insurance 4 Laundry Equipment S Accmulated Depreciation 6 Accounts Payable 7Wages Payable 8 Sophie Perez, Capital 9 TotalsExplanation / Answer
Unadjusted trial balance
explanation
debit
credit
cash
11000
supplies
21500
prepaid insurance
9600
equipment
232600
accunulated depreciation
125400
accounts payable
11800
capital
105600
drawings
10000
revenue
232200
wages
125200
rent
40000
utilities
19700
miss. Explanation
5400
total
475000
475000
Adjustment entries
date
explanation
debit
credit
1
supplies expense
17900
supplies
17900
2
insurance expense
5700
prepaid insurance
5700
3
depreciation
6500
accumulated depreciation
6500
4
wages expense
1100
wages payable
1100
Adjusted Trial balance
explantion
debit
credit
cash
11000
supplies
3600
prepaid insurance
3900
equipment
232600
accunulated depreciation
131900
accounts payable
11800
capital
105600
wages payable
1100
drawings
10000
revenue
232200
wages
126300
rent
40000
utilities
19700
miss. Explanation
5400
Depreciation expense
6500
supplies expense
17900
Insurance expense
5700
total
482600
482600
Income statement
explantion
debit
credit
revenue
232200
total expense
221500
wages
126300
rent
40000
utilities
19700
miss. Explanation
5400
Depreciation expense
6500
supplies expense
17900
Insurance expense
5700
net income
10700
balance sheet
Assets
current assets
cash
11000
supplies
3600
prepaid insurance
3900
total of current assets
18500
equipment net of accumulated depreciation
100700
total of assets
119200
liabilities and shareholders equity
current liability
accounts payable
11800
wages payable
1100
total of current assets
12900
owners capital
105600
106300
add net income
10700
less drawings
10000
total of liabilities and shareholders equity
119200
post closing trial balance
explanation
debit
credit
cash
11000
supplies
3600
prepaid insurance
3900
equipment
232600
accunulated depreciation
131900
accounts payable
11800
wages payable
1100
owners capital
106300
total
251100
251100
Unadjusted trial balance
explanation
debit
credit
cash
11000
supplies
21500
prepaid insurance
9600
equipment
232600
accunulated depreciation
125400
accounts payable
11800
capital
105600
drawings
10000
revenue
232200
wages
125200
rent
40000
utilities
19700
miss. Explanation
5400
total
475000
475000
Adjustment entries
date
explanation
debit
credit
1
supplies expense
17900
supplies
17900
2
insurance expense
5700
prepaid insurance
5700
3
depreciation
6500
accumulated depreciation
6500
4
wages expense
1100
wages payable
1100
Adjusted Trial balance
explantion
debit
credit
cash
11000
supplies
3600
prepaid insurance
3900
equipment
232600
accunulated depreciation
131900
accounts payable
11800
capital
105600
wages payable
1100
drawings
10000
revenue
232200
wages
126300
rent
40000
utilities
19700
miss. Explanation
5400
Depreciation expense
6500
supplies expense
17900
Insurance expense
5700
total
482600
482600
Income statement
explantion
debit
credit
revenue
232200
total expense
221500
wages
126300
rent
40000
utilities
19700
miss. Explanation
5400
Depreciation expense
6500
supplies expense
17900
Insurance expense
5700
net income
10700
balance sheet
Assets
current assets
cash
11000
supplies
3600
prepaid insurance
3900
total of current assets
18500
equipment net of accumulated depreciation
100700
total of assets
119200
liabilities and shareholders equity
current liability
accounts payable
11800
wages payable
1100
total of current assets
12900
owners capital
105600
106300
add net income
10700
less drawings
10000
total of liabilities and shareholders equity
119200
post closing trial balance
explanation
debit
credit
cash
11000
supplies
3600
prepaid insurance
3900
equipment
232600
accunulated depreciation
131900
accounts payable
11800
wages payable
1100
owners capital
106300
total
251100
251100