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ANYTHING HELPS PKEASE IM VERY STUCK IM SORRY UTS A LOT OF WORK Check my 2 Problem 4-2A Preparing a work sheet, adjusting and closing
ANYTHING HELPS PKEASE IM VERY STUCK IM SORRY UTS A LOT OF WORK
Check my 2 Problem 4-2A Preparing a work sheet, adjusting and closing entries, and financial statements LO C3, P1, P2 The following unadjusted trial balance is for Ace Construction Co as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner's capital account was $55,500, and the owner invested $26,000 cash in the company during the 2019 fiscal year Credit Debit $ 16,500 9,500 6,000 146,590 $ 25,500 6,000 0 ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2019 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 V. Ace, Withdrawals 401 Construction fees earned 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 683 Property taxes expense 684 Repairs expense 690 Utilities expense Totals 21,000 81,500 25,500 142,000 48,000 2,310 0 11,000 @ 4,300 2,100 4,200 $ 276,000 $276,000 Adjustments a. The supplies available at the end of fiscal year 2019 had a cost of $3.420 b. The cost of expired insurance for the fiscal year is $3,780. c. Annual depreciation on equipment is $8,300 d. The June utilities expense of $600 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $600 amount owed needs to be recorded e. The company's employees have earned $1700 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 $300. g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $210 accrued interest for June on the long-term notes payable has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner's capital account was $55,500 and the owner invested $26,000 cash in the company during the 2019 fiscal year 20. Prepare the adjusting entries. (all dated June 30, 2019) 2b. Prepare the closing entries (all dated June 30, 2019) 30. Prepare the income statement for the year ended June 30, 2019, 3b. Prepare the statement of owner's equity for the year ended June 30, 2019 3c. Prepare the classified balance sheet at June 30, 2019, Complete this question by entering your answers in the tabs below. For Year Endedine 10.200 dated To Batare Adjusted Trial Balance Income Statement Adsents Di Balance Sheet and statement of Owners Equity Dr 5 10.500 0.500 0.000 140.500 25.500 5.000 NE A Title 101 Cash 120 Supplies 126 Prepaid innance 167 Equipment 188 Accumulated depreciation Equipment 201 Accounts payable 203 orest payable 205 Rend payable 250 Wages payable 213 Property taxes payable 251 Long-term cotes Sayable 30 V Ace Capital 302 VA Was 401 Carucioared 02 Deprecationen 623 Wagen 21.000 31.500 29.500 142.000 45.000 2110 11.000 337 and export 840 060 Dupes per 001 Port 300 2.100 6200 DOS Tome Totes A> Required 1 Required 2A Required 28 Required 3A Required 3B Required 3C Prepare the adjusting entries (all dated June 30, 2019). View transaction ist Journal entry worksheet 2 3 14 4 5 8 7 8 The supplies available at the end of fiscal year 2019 had a cost of $3,420. Note Enter debits before credits Transaction General Journal Debit Credit a Record entry Cheer entry View general Journal K Required Required 28 > Journal entry worksheet 8 Annual depreciation on equipment is $8,300. Note Enter debits before credits Transaction General Journal Debit Credit Racord entry Clear entry View general journal Required 1 Required 2A Required 28 Required 3A Required 3B Required 30 Prepare the adjusting entries (all dated June 30, 2019). View transaction ist Journal entry worksheet 1 2 3 3 4 5 6 7 7 8 The June utilities expense of $600 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $600 amount owed needs to be recorded. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Ciocante View generat journal Prepare the adjusting entries (all dated June 30, 2019). FOR View transaction list Journal entry worksheet Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare the closing entries (all dated June 30, 2019). View transaction Het Journal entry worksheet 2 3 Record the entry to close revenue accounts. General Journal Debit Credit Date June 302 2010 Record entry KHear entry View general journal Required 2A Required 3A > Required 1 Required 2A Required 28 Required 3A Required 38 Required 30 Prepare the closing entries (all dated June 30, 2019). View transction Hist Journal entry worksheet 1 he 3 4 Record the entry to close expense accounts. Date General Journal Debit Credit Wenn Required 1 Required 2A Required 2B Required 3A Required 38 Required 30 Prepare the closing entries (all dated June 30, 2019). New transaction ist Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 20 Required 3A Required 38 Required 30 Prepare the statement of owner's equity for the year ended June 30, 2019. The June 30, 2018, credit balance of the owner's capital account was $55,500, and the owner invested $26,000 cash in the company during the 2019 fiscal year. ACE CONSTRUCTION CO. Statement of Owner's Equity For Year Ended June 30, 2019 V. Ace, Capital, June 30, 2018 0 0 0 V. Ace, Capital, June 30, 2010 Required 1 Required 2A Required 28 Required 3A Required 3B Required 3C Prepare the adjusting entries (all dated June 30, 2019). View transaction ist Journal entry worksheet 2 3 14 4 5 8 7 8 The supplies available at the end of fiscal year 2019 had a cost of $3,420. Note Enter debits before credits Transaction General Journal Debit Credit a Record entry Cheer entry View general Journal K Required Required 28 > Journal entry worksheet 8 Annual depreciation on equipment is $8,300. Note Enter debits before credits Transaction General Journal Debit Credit Racord entry Clear entry View general journal Required 1 Required 2A Required 28 Required 3A Required 3B Required 30 Prepare the adjusting entries (all dated June 30, 2019). View transaction ist Journal entry worksheet 1 2 3 3 4 5 6 7 7 8 The June utilities expense of $600 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $600 amount owed needs to be recorded. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Ciocante View generat journal Prepare the adjusting entries (all dated June 30, 2019). FOR View transaction list Journal entry worksheet Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare the closing entries (all dated June 30, 2019). View transaction Het Journal entry worksheet 2 3 Record the entry to close revenue accounts. General Journal Debit Credit Date June 302 2010 Record entry KHear entry View general journal Required 2A Required 3A > Required 1 Required 2A Required 28 Required 3A Required 38 Required 30 Prepare the closing entries (all dated June 30, 2019). View transction Hist Journal entry worksheet 1 he 3 4 Record the entry to close expense accounts. Date General Journal Debit Credit Wenn Required 1 Required 2A Required 2B Required 3A Required 38 Required 30 Prepare the closing entries (all dated June 30, 2019). New transaction ist Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 20 Required 3A Required 38 Required 30 Prepare the statement of owner's equity for the year ended June 30, 2019. The June 30, 2018, credit balance of the owner's capital account was $55,500, and the owner invested $26,000 cash in the company during the 2019 fiscal year. ACE CONSTRUCTION CO. Statement of Owner's Equity For Year Ended June 30, 2019 V. Ace, Capital, June 30, 2018 0 0 0 V. Ace, Capital, June 30, 2010 Step by Step Solution
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