Presented below is the unadjusted trial balance of ALPHA Company as of June 30, 2020 the end of its fiscal year. The owner invested $30,000 cash into the company during the year.

Debit Credit

101 Cash................................................................................... $ 9,000

126 Supplies ................................................................... 18,000

128 Prepaid insurance ............................................................. 12,600

167 Equipment ....................................................................... 140,000

168 Accumulated amortization, equipment ........................... $ 3,000

201 Accounts payable ............................................................ 16,000

203 Interest payable .....................................................

210 Wages payable .................................................................

251 Long-term notes payable .......................................... 90,000

301 Carter, capital .......................................... 76,900

302 Carter, withdrawals ................................. 4,000

401 Demolition fees earned ......................................... 137,000

612 Depreciation expense, equipment.................................. 3,000

623 Wages expense ...................................................... 51,400

633 Interest expense ................................................................ 2,200

637 Insurance expense ............................................................ 2,000

640 Rent expense ................................................................ 48,800

652 Supplies expense ............................................................

683 Business tax expense ...................................... 8,400

684 Repairs expense .................................................... 6,700

690 Utilities expense ............................................................. 16,800 _______

Totals............................................................................. $322,900 $322,900

Required:

1. Prepare a 10-column work sheet for 2020

2. Prepare the adjusting and closing entries for the year using these additional facts:

a. The inventory of supplies at the end of the year had a cost of $8,100.

b. The cost of expired insurance for the year is $11,500.

c. The equipment was acquired on July 1, 2019 and is estimated to have a

$14,000 residual value after 7 years of use, applying the straight line method.

d. The June utilities expense of $700 was not paid or recorded in June

e. The company's payroll is $5,500 per week paid on Friday of the same week. June

30^th is a Tuesday.

f. Interest of $200 for June has not yet been paid or recorded. In addition, the company is required to make a $4,000 payment on the note on August 31, 2020.