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Saved The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V.
Saved The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V. Ace, Capital account was $53,300 on June 30 of the prior year, and the owner invested $29,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance. June 30. Number Account Title 101 Cash 126 Debit $ 19,500 Credit Supplies 128 Prepaid insurance 10,000 5,500 167 168 201 Equipment Accumulated depreciation-Equipment Accounts payable 134,780 $ 22,000 5,600 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable. 251 Long-term notes payable 22,000 301 V. Ace, Capital 82,300 302 V. Ace, Withdrawals 28,000 403 Construction revenue 141,000 612 Depreciation expense-Equipment 623 Wages expense 49,000 633 Interest expense 2,420 637 Insurance expense 640 Rent expense 14,000 652 Supplies expense 683 Property taxes expense 4,100 684 Repairs expense 2,100 690 Utilities expense 3,500 $272,900 $272,900 Totals Help Sav a. Supplies available at the end of the current fiscal year total $3,600. b. Cost of expired insurance for the current fiscal year is $3,465. c. Annual depreciation on equipment is $8,700. d. 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 must be recorded. e. Employees have earned $1,000 of accrued and unpaid wages at fiscal year-end. f. 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 at fiscal year-end. h. $220 of accrued interest for June has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional information. Complete this question by entering your answers in the tabs below. Required 1 Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional in ACE CONSTRUCTION COMPANY+ Work Sheet For Year Ended June 30 ACE CONSTRUCTION COMPANY Work Sheet For Year Ended June 30 Check my work Unadjusted Trial Balance Adjustments Adjusted Trial Balance Balance Income Statement Number Account Title Debit Credit Debit Credit Debit Credit Debit Credit Def 101. Cash $ 19.500 126 Supplies 10,000 128 Prepaid insurance 5.500 167 Equipment 134,780 168 Accumulated depreciation-Equipment 22,000 201 Accounts payable 5,600 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 22.000 301 V. Ace, Capital 82,300) 302 V. Ace, Withdrawals 28,000 403 Construction revenue 141,000 612 Depreciation expense-Equipment 623 Wages expense 49,000 4 033 Interest expense 2,420 637 Insurance expense Check my work 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 22,000 301 V. Ace. Capital 82,300 302 V. Ace, Withdrawals 28,000 403 Construction revenue 141,000 612 Depreciation expense-Equipment 623 Wages expense 49,000 633 Interest expense 2,420 637 Insurance expense 640 Rent expense 14,000 652 Supplies expense 683 Property taxes expense 4,100 684 Repairs expense 2,100 090 Utilities expense 3,500 Totals $272,900 $ 272.900 $ 0 $ 0 $ 0 $ 0 Net Income Totals $ 0 $ 0 $ work Sheet For Year Ended June 30 Income Statement hadjusted Trial Balance Adjustments Adjusted Trial Balance bit Credit Debit Credit Debit Credit Debit 19,500 10,000 5,500 134,780 22,000 5,600 22,000 82,300 28,000 141,000 49,000 2,420 14,000 Balance Sheet and Statement of Owner's Equity Credit Debit Credit Check my wom 000 300 000 272,900 $ 0 $ 0 $ 0 $ 0 0 0 0 0 $ 0 S 0 $ 0 $ 0
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