Journal Entries:

1-Mar-21 Cash 20,000.00

Laundry Supplies 4,000.00 Cash
Laundry Equipment 80,000.00 Accounts Receivable
Aguila, Capital 104,000.00 Laundry Supplies
Laundry Equipment
2-Mar-21 Tax Expense 1,600.00 Delivery Truck
Delivery Truck 240,000.00 Accounts Payable
Rent Expense 6,000.00 Aguila, Capital
Cash 7,600.00 Aguila, Drawing
Accounts Payable 240,000.00 Service Income
Rent Expense
6-Mar-21 Cash 8,000.00 Salaries Expense
Accounts Receivable 9,000.00 Utilities Expense
Service Income 17,000.00 Repairs Expense
Tax Expense
10-Mar-21 Laundry Supplies 3,000.00 Total
Accounts Payable 3,000.00 Laundry Supplies Expense
Depreciation Expense
15-Mar-21 Accounts Receivable 11,000.00 Accumulated Depreciation-L
Service Income 11,000.00 Accumulated Depreciation-D
Total
20-Mar-21 Cash 9,900.00
Accounts Receivable 9,900.00

25-Mar-21 Cash 4,400.00

Service Income 4,400.00

Accounts Payable 1,800.00

Cash 1,800.00

Aguila, Drawing 2,000.00

Cash 2,000.00

27-Mar-21 Repairs Expense 1,700.00

Cash 1,700.00

31-Mar-21 Salaries Expense 12,600.00

Utilities Expense 3,700.00
Cash 16,300.00

Cash 5,200.00
Accounts Receivable 7,600.00
Service Income 12,800.00

Adjusting Entries:
a. Laundry Supplies Expense 5,400.00
Laundry Supplies 5,400.00

b Depreciation Expense 1,625.00

Accumulated Depreciation-Laundry 1,625.00

c. Depreciation Expense 3,750.00

Accumulated Depreciation-Delivery 3,750.00
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
DR CR DR CR DR
18,100.00 18,100.00
Accounts Receivable 17,700.00 17,700.00
Laundry Supplies 7,000.00 5,400.00 1,600.00
Laundry Equipment 80,000.00 80,000.00
Delivery Truck 240,000.00 240,000.00
Accounts Payable 241,200.00
Aguila, Capital 104,000.00
Aguila, Drawing 2,000.00 2,000.00
Service Income 45,200.00
Rent Expense 6,000.00 6,000.00
Salaries Expense 12,600.00 12,600.00
Utilities Expense 3,700.00 3,700.00
Repairs Expense 1,700.00 1,700.00
Tax Expense 1,600.00 1,600.00
390,400.00 390,400.00
Laundry Supplies Expense 5,400.00 5,400.00
Depreciation Expense 5,375.00 5,375.00
Accumulated Depreciation-Laundry Equipment 1,625.00
Accumulated Depreciation-Delivery Truck 3,750.00
10,775.00 10,775.00 395,775.00
djusted Trial Balance Income Statement Balance Sheet Changes in Equity:
CR CR DR DR CR Initial Investment
18,100.00 Add: Net Income
17,700.00 Less: Drawing
1,600.00 Ending Capital
80,000.00
240,000.00 Closing Entries:
241,200.00 241,200.00 Income Summary
104,000.00 104,000.00
2,000.00
45,200.00 45,200.00
6,000.00
12,600.00
3,700.00
1,700.00
1,600.00
Service Income
5,400.00
5,375.00
1,625.00 1,625.00 Income Summary
3,750.00 3,750.00
395,775.00 36,375.00 45,200.00 359,400.00 350,575.00
8,825.00 8,825.00 Aguilar, Capital
45,200.00 45,200.00 359,400.00 359,400.00
Changes in Equity: Post Closing Trial Balance
Initial Investment 104,000.00 Cash 18,100.00
Add: Net Income 8,825.00 Accounts Receivable 17,700.00
Less: Drawing 2,000.00 Laundry Supplies 1,600.00
Ending Capital 110,825.00 Laundry Equipment 80,000.00
Accumulated Depreciation
Closing Entries: Delivery Truck 240,000.00
Income Summary 36,375.00 Accumulated Depreciation
Rent Expense 6,000.00 Accounts Payable
Salaries Expense 12,600.00 Aguila, Capital
Utilities Expense 3,700.00 Total 357,400.00
Repairs Expense 1,700.00
Tax Expense 1,600.00
Laundry Supplies Expense 5,400.00
Depreciation Expense 5,375.00

Service Income 45,200.00

Income Summary 45,200.00

Income Summary 8,825.00

Aguilar, Capital 8,825.00

Aguilar, Capital 2,000.00

Aguilar, Drawing 2000
1,625.00

3750
241,200.00
110825
357,400.00