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 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 0 0 0 21,600 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, 2015 Luard Tol Barce Income Statement Adarents Di CF Adjusted Trial Balance D: CA Balance Sheet and statement of Owners Equity Dr. CE 5 10.500 0.500 0.000 140.500 25.500 5.000 LE An Title 101 Cash 120 Supplies 126 Prepaid inwurance 167 Equipment 168 Accumulated depreciation Equipment 201 Accounts payable 203 orest payable 200 Merd payable 210 Wages puyati 213 Property is payable 25 Lonem able 30 VACapital 302 VA Was 401 Contractions and 12 123 Wesponse - Pleastapanie 037 nuance 21.000 31.500 25.500 142.000 45.000 2310 11.000 01 Buple pense 100 2100 200 36003 D To come Tots Hind 2 >