ACE CONSTRUCTION CO. Trial Balance June 30, 2019 Account Title Debit Credit 18,500 9,900 7,200 132,000 26,250 6,800 25,000 88,660 *Cash Supplies *Prepaid insurance *Equipment * Accumulated depreciation - Equipment * Accounts payable * Long-term notes payable * V. Ace, Capital *V. Ace, Withdrawals *Construction fees earned Wages expense * Interest expense *Rent expense * Property taxes expense Repairs expense *Utilities expense Total 33,000 132, 100 46,860 2,750 12,000 7,800 2,910 5,890 278,810 $ 278,810 The unadjusted trial balance for Ace Construction Co. as of June 30, 2019, the end of its fiscal year, is found on the trial balance tab. The June 30, 2018, credit balance of the owner's capital account was $53,660, and the owner invested $35,000 cash in the company during the 2019 fiscal year. Information for adjustments is as follows: a. The supplies available at the end of fiscal year 2019 had a cost of $3,300. b. The cost of expired insurance for the fiscal year is $3,800. c. Annual depreciation on equipment is $8,400. d. The June utilities expense of $650 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $650 amount owed needs to be recorded. e. The company's employees have earned $1,800 of accrued and unpaid wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $500. g. Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $250 accrued interest for June on the long-term notes payable has not yet been paid or recorded. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Post Closing General Journal tab - Prepare any necessary adjusting and closing entries for the current fiscal year. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances. Trial Balance tab - You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Statement of Owner's Equity tab - The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection. Post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance
