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The following unadjusted Trial Balance for Shawn's Construction for year ended Dec 31, 2013. Beginning Capital Balance on December 31 2012 was $30000. Shawn's Construction

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The following unadjusted Trial Balance for Shawn's Construction for year ended Dec 31, 2013. Beginning Capital Balance on December 31 2012 was $30000. Shawn's Construction Company Unadjusted Trial Balance December 31, 2013 No Account Title Debit Credit 101 Cash $20000 126 Supplies 10000 128 Prepaid Insurance 7200 167 Equipment 130000 168 Accumulated Depreciation- Equipment $26000 201 Accounts Payable 6000 203 Interest Payable Rent payable 208 210 Wages payable Property Taxes payable 213 25000 Long Term Notes Payable 251 87060 S. Dean Capital 301 50000 S. Dean withdrawels 302 140000 Construction Fees earned 401 Depreciation Expense Equipment 612 46860 Wage Expense 623 2000 Interest Expense 633 Insurance Expense 637 12000 Rent Expense 640 652 Supplies Expense 683 Property Tax Expense Repairs Expense 684 6000 Utilities Expense 690 284060 284060 Totals Prepare and complete a 10 column worksheet for fiscal year ended 2013, starting with the unadjusted Trial 1) Balance and including adjustments based on these additional facts: The supply balance at the end of 2013 is $1000. a. The cost of expired insurance for fiscal year 2013 is $550. b. Annual depreciation on Equipment is $8000. C. Unrecorded December utilities expense is $600. d. Shawns employee's had earned an additional $5000 at year end (unrecorded). e. Rent expense incurred and not yet paid is $500. f. Additional property taxes assessed for this year but not yet paid or recorded is $1000. $250 interest for month of December is due on long term note and not yet recorded. h. Using the information from the completed 10-column work sheet in part 1. prepare the adjusting journal entries and closing entries. 2) 3) Prepare the income statement and the statement of owners equity for year ended December 31 classified balance sheet at December 31 2013. 2013 and the

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