Journal entry worksheet Record the entry to close the withdrawals account. Note: Enter debits before credits. Journal entry worksheet 567 The cost of expired insurance for the fiscal year is $3,800. Note: Enter debits before credits. Journal entry worksheet Annual depreciation on equipment is $8,400. Note: Enter debits before credits. Prepare the statement of owner's equity for the year ended June 30, 2017. The June 30, 2016, credit balance of the owner's capital account was $53,660, and the owner invested $35,000 cash in the company during the 2017 fiscal year. ACE CONSTRUCTION CO. Balance Sheet June 30, 2017 Journal entry worksheet The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the first 11 months of the 2017 fiscal year. The $250 accrued interest for June has not yet been paid or recorded. (The company is required to make a $5,000 payment toward the Note: Enter debits before credits. The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2017 fiscal year. The June 30, 2016, credit. balance of the owner's copital account was $53,660, and the owner invested $35,000 cash in the company during the 2017 fiscal year Adjustments: a. The supplies avaliable at the end of fiscal year 2017 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 Journal entry worksheet Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded in the accounts. Note: Enter debits before credits. Journal entry worksheet 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. Note: Enter debits before credits. Adjustments: a. The supplies avaliable at the end of fiscal year 2017 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 balonce was prepared. The $650 amount owed needs to be recorded. e. The company's employees have earned $1,800 of accrued wages at fiscal year-end. f. The rent expense incurred and not yet poid 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 fecorded in the accounts. h. The long-term note payable bears interest at 12% per year. The unadjusted interest Expense account equals the amount paid for the first 11 months of the 2017 fiscal yeat. The $250 accrued interest for June has not yot been paid or recorded. (The company is required to make a $5.000 payment toward the note payable during the 2018 fiscal year) Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30,2016 , credit balance of the owner's capital account was $53,660, and the owner invested $35,000 cash in the company during the 2017 fiscal year. 2a. Prepare the adjusting entries (all dated June 30, 2017). 2b. Prepare the closing entries (all dated June 30, 2017). 3a. Prepare the income statement for the year ended June 30, 2017. 3b. Prepare the statement of owner's equity for the year ended June 30, 2017. 3c. Prepare the classified balance sheet at June 30, 2017. Journal entry worksheet 123 8 The company's employees have earned $1,800 of accrued wages at fiscal year-end. Note: Enter debits before credits. Journal entry worksheet 2345678 The supplies available at the end of fiscal year 2017 had a cost of $3,300. Note: Enter debits before credits. Requiled 2A > Journal entry worksheet The rent expense incurred and not yet paid or recorded at fiscal year-end is $500. Note: Enter debits before credits. Journal entry worksheet Record the entry to close expense accounts. Nota: Enher dahite hefore credits Prepare the income statement for the vear ended June 30, 2017. Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including sdjustments based on the additional facth. The june 30,20 $53,660, and the owner invested $35,000 cash in the company during the 2017 fiscal rear. Journal entry worksheet Record the entry to close income summary account. Note: Enter debits before credits. Journal entry worksheet Record the entry to close revenue accounts. Note: Enter debits before credits