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In: AccountingThe unadjusted trial balance of Epicenter Laundry at June 30,2019, the end of the fiscal...The unadjusted trial balance of Epicenter Laundry at June 30,2019, the end of the fiscal year, follows: Epicenter LaundryUNADJUSTED TRIAL BALANCE June 30, 2019 ACCOUNT TITLE DEBIT CREDIT 1Cash 11,000.00 2 Laundry Supplies 21,500.00 3 Prepaid Insurance9,600.00 4 Laundry Equipment 232,600.00 5 Accumulated Depreciation125,400.00 6 Accounts Payable 11,800.00 7 Sophie Perez, Capital105,600.00 8 Sophie Perez, Drawing 10,000.00 9 Laundry Revenue232,200.00 10 Wages Expense 125,200.00 11 Rent Expense 40,000.00 12Utilities Expense 19,700.00 13 Miscellaneous Expense 5,400.00 14Totals 475,000.00 475,000.00 The data needed to determine year-endadjustments are as follows: • Laundry supplies on hand at June 30are $3,600. • Insurance premiums expired during the year are$5,700. • Depreciation of laundry equipment during the year is$6,500. • Wages accrued but not paid at June 30 are $1,100.Required: 1. For each account listed in the unadjusted trialbalance, enter the balance in a T account. Identify the balance as“Bal.” 2. (Optional) On your own paper or spreadsheet, enter theunadjusted trial balance on an end-of-period work sheet andcomplete the work sheet. 3. a. Journalize the adjusting entries onpage 10 of the journal. Adjusting entries are recorded on June 30.b. Post the adjusting entries. In the T accounts, identify theadjustments by “Adj.” and the new balances as “Adj. Bal.” (Be sureto add a posting reference to the journal.) 4. Prepare an adjustedtrial balance. 5. Prepare an income statement, a statement ofowner’s equity, and a balance sheet.* 6. a. Journalize the closingentries on page 11 of the journal. b. Post the closing entries. Inthe T accounts, identify the closing entries by “Clos.” (Be sure toadd a posting reference to the journal.) 7. Prepare a post-closingtrial balance. *Be sure to read the instructions for each financialstatement carefully. The only thing I need is the Journal of thisassignment!
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