eBook

Spreadsheet

$\backslash$table$[[1,$Cash,$11,000\mathrm{.}00,],[2,$Laundry Supplies,$26,500\mathrm{.}00,],[3,$Prepaid Insurance,$9,600\mathrm{.}00,],[4,$Laundry Equipment,$232,600\mathrm{.}00,],[5,$Accumulated Depreciation,,$125,400\mathrm{.}00$

a$.$ Journalize the adjusting entries on page $10$ of the journal. Adjusting entries are recorded on June $30.$

b$.$ Post the adjusting entries. In the $T$ accounts, identify the adjustments by "Adj." and the new balances as "Adj. Bal."

Prepare an adjusted trial balance.

a$.$ Prepare an income statement for the year ended June $30,20$ Y$6.$

b$.$ Prepare a statement of stockholders' equity for the year ended June $30,20$Y$6.$ During the year ended June $30,20$Y$6,$ additional common stock of $$7,500$ was issued.

c$.$ Prepare a balance sheet as of June $30,20$ Y$6.$

a$.$ Journalize the closing entries on page $11$ of the journal. $($Note: Complete the adjusted trial balance, the income statement, the statement of stockholders' equity, and the balance sheet BEFORE completing part $6.$ a$.)$

b$.$ Post the closing entries. In the $T$ accounts, identify the closing entries by "Clos."

Prepare a post$-$closing trial balance.