@ 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 capital account was $58,400, and the owner invested $26,000 cash in the company during the 2017 fiscal year. ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2017 No. Account Title Debit Credit 101 Cash $ 15,500 126 Supplies 7,500 128 Prepaid insurance 5,000 167 Equipment 145,870 168 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 23,000 301 V. Ace, Capital 84,400 302 V. Ace, Withdrawals 34,000 401 Construction fees earned 146,000 612 Depreciation expense-Equipment 623 Wages expense 45,000 633 Interest expense 2,530 637 Insurance expense @ 640 Rent expense 14,000 652 Supplies expense 683 Property taxes expense 4,500 684 Repairs expense 690 Utilities expense 4,600 Totals $281,000 $281,600 @ e 2,500 Adjustments: a. The supplies available at the end of fiscal year 2017 had a cost of $2,700. b. The cost of expired insurance for the fiscal year is $3,150. c. Annual depreciation on equipment is $8,600. d. 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 $1,600 of accrued wages at fiscal year-end. 4. The rent expense incurred and not yet paid or recorded at fiscal year-end is $200. g. Additional property taxes of $900 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 2017 fiscal year. The $230 accrued interest for June has not yet been paid or recorded. (The company is required to make a $4,500 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 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. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Rre ZA Dr Di Prepare a 10-column worksheet for fiscal year 2017, starting with the unadjusted trial balance and including adjustments based on the additional facts. The une 30, 2016, credit balance of the own was $58400, and the owner invested $26000 cash in the company during the 2017 fiscal year ACE CONSTRUCTION CO. Work Sheet For Year Ended June 29, 2017 Unadjusted Trial Balance Adjustments Alated Trial Balance Income Statement Batance Sheet and Staten of Owner's Equity No Account C. Dr. CR, Cri be CE 101 Cash 15.500 120 Supplies 7.500 120 Prepaid insurance 5.000 107 Equipment 145,870 168 Accumulated depreciation Equipment 22.000 201 Accounts payable 3.800 203 interest payable 20 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of long terme peyi 4.500 4.500 251 Long-termoles y 13500 18.500 301 VA Capital 1.400 300 VA, Wwwals M.000 401 Conscientes carned 140,000 612 Depreciation expense-Equipment 123 Wees sense 45.000 633 response 2,530 637 Insurance capense 140 Rent expense 14.000 652 Supplies expert 4500 683 Property taxes expense 684 Repairs experte 2.500 600 is expense 4.600 $261.000 $281.000 $ Os Tots os 05 23,000 Net Income Total $ 0 $ 05 Using tom above, the notes payable account is related into current and long-term portions for the unadusled rabance columns of the worksheet 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Required 30 Prepare the adjusting entries (all dated June 30, 2017). View transaction list Journal entry worksheet