The unadjusted trial balance of Ocean Breeze Laundromat

at December #1702
The unadjusted trial balance of Ocean Breeze Laundromat at December 31, 2015, is shown
below.The data needed to determine year-end adjustments are as follows:a. Laundry supplies
on hand at December 31 are $4,000.b. Insurance premiums expired during the year are
$5,200.c. Depreciation of equipment during the year is $6,000.d. Wages accrued but not paid at
December 31 are $1,100.Instructions1. For each account listed in the unadjusted trial balance,
enter the balance in a T account. Identify the balance as “December 31 Bal.” In addition, add T
accounts for Wages Payable, Amortization Expense, Laundry Supplies Expense, Insurance
Expense, and Income Summary.2. Journalize and post the adjusting entries. Identify the
adjustments by “Adj.” and the new balances as “Adj. Bal.”3. Prepare an adjusted trial
balance.4. Prepare an income statement, a statement of owner’s equity (no additional
investments were made during the year), and a balance sheet.5. Journalize and post the
closing entries. Identify the closing entries by “Clos.”6. Prepare a post-closing trial
balance.View Solution:
The unadjusted trial balance of Ocean Breeze Laundromat at December

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