Please help TIA
The following unadjusted trial balance is for ACE CONSTRUCTION CO. as of the end of its 2015 fiscal year. The June 30, 2014, credit balance of the owner's capital account was $53,700, and the owner invested $26,000 cash in the company during the 2015 fiscal year. No. Account Title 10 Cash 1 126 Supplies 128 Prepaid ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2015 Debit $ 17,500 7,000 5,000 Credit insurance 16 Equipment 7 Accumulated 16 depreciation 8 Equipment Accounts 201 payable Interest 203 payable 208 Rent payable Wages 210 payable Property 213 taxes payable Long-term 251 notes payable 30 V. Ace, 1 Capital V. Ace, 302 Withdrawals 40 Construction 1 fees earned Depreciation 612expense Equipment Wages 623 expense 63 Interest 3 expense 63 Insurance 7 expense 64 Rent expense 0 Supplies 652 expense 68 Property 3 taxes expense 68 Repairs 4 expense Utilities 690 expense Totals 136,080 $ 25,500 6,000 0 0 0 0 22,000 79,700 33,500 136,000 0 46,000 2,420 0 11,000 0 5,000 2,200 3,500 $ 269,200 $ 269,200 Adjustments: a. b. c. d. The supplies available at the end of fiscal year 2015 had a cost of $2,520. The cost of expired insurance for the fiscal year is $3,150. Annual depreciation on equipment is $8,200. The June utilities expense of $540 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $540 amount owed needs to be recorded. e. The company's employees have earned $1,000 of accrued 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 $600 have been assessed for this fiscal year but have not been paid or recorded 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 2015 fiscal year. The $220 accrued interest for June has not yet been paid or recorded. (The company is required to make a $6,000 payment toward the note payable during the 2016 fiscal year.) The following unadjusted trial balance is for ACE CONSTRUCTION CO. as of the end of its 2015 fiscal year. The June 30, 2014, credit balance of the owner's capital account was $53,700, and the owner invested $26,000 cash in the company during the 2015 fiscal year. No. Account Title 10 Cash 1 126 Supplies Prepaid 128 insurance 16 Equipment 7 Accumulated 16 depreciation 8 Equipment Accounts 201 payable Interest 203 payable 208 Rent payable Wages 210 payable Property 213 taxes payable 251 Long-term ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2015 Debit $ Credit 17,500 7,000 5,000 136,080 $ 25,500 6,000 0 0 0 0 22,000 notes payable 30 V. Ace, 1 Capital V. Ace, 302 Withdrawals 40 Construction 1 fees earned Depreciation 612expense Equipment Wages 623 expense 63 Interest 3 expense 63 Insurance 7 expense 64 Rent expense 0 Supplies 652 expense 68 Property 3 taxes expense 68 Repairs 4 expense Utilities 690 expense Totals 79,700 33,500 136,000 0 46,000 2,420 0 11,000 0 5,000 2,200 3,500 $ 269,200 $ 269,200 Adjustments: a. b. c. d. The supplies available at the end of fiscal year 2015 had a cost of $2,520. The cost of expired insurance for the fiscal year is $3,150. Annual depreciation on equipment is $8,200. The June utilities expense of $540 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $540 amount owed needs to be recorded. e. The company's employees have earned $1,000 of accrued 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 $600 have been assessed for this fiscal year but have not been paid or recorded 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 2015 fiscal year. The $220 accrued interest for June has not yet been paid or recorded. (The company is required to make a $6,000 payment toward the note payable during the 2016 fiscal year.)
