EX4S4 The trial balance of Dynamite Laundry at July 31, 2006, the end of the current fiscal year, and the data needed to determine yearend…

EX‐4S4The trial balance of Dynamite Laundry at July 31, 2006, the end of the current fiscalyear, and the data needed to determine year‐end adjustments are as follows:Dynamite LaundryTrial BalanceJuly 31, 2006Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,900Laundry Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7,500Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4,800Laundry Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . 109,050Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,100Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,100David Duffy, Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,800David Duffy, Drawing . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000Laundry Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165,000Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .71,400Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,650Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . .2,700250,000 250,000a. Wages accrued but not paid at July 31 are $1,200.b. Depreciation of equipment during the year is $6,800.c. Laundry supplies on hand at July 31 are $1,750.d. Insurance premiums expired during the year are $2,400.3Instructions1. Enter the trial balance on a ten‐column work sheet and complete the work sheet. Addaccounts as needed.2. Prepare an income statement, a statement of owner’s equity (no additional investmentswere made during the year), and a balance sheet.3. On the basis of the adjustment data in the work sheet, journalize the adjusting entries.4. On the basis of the data in the work sheet, journalize the closing entries.

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more