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The following unadjusted trial balance is for ACE CONSTRUCTION CD. as of the end of its 2017 scal year. The June 30, 2016, credit balance

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The following unadjusted trial balance is for ACE CONSTRUCTION CD. as of the end of its 2017 scal year. The June 30, 2016, credit balance of the owner's capital account was $58,900, and the owner invested $23,000 cash in the company during the 2017 scal year. ME CMSTRUCI'IDN CD. Unadjusted Trial Balance June 38, 281? No. Account Title Debit Credit 191 Cash $ 16,888 126 Supplies 9,588 128 Prepaid insurance 6,888 167 Equipment 148,428 168 Accumulated depreciationEquipment 5 23,588 281 Accounts payable 6,688 283 Interest payable 8 28% Rent payable 8 218 \"ages payable 8 213 Property taxes payable 8 251 Longterm notes payable 28,888 381 V. AceJ Capital 81,988 382 V. AceJ withdrawals 38,588 481 Construction fees earned 133,888 612 Depreciation expenseEquipment 8 623 \"ages expense 43,888 633 Interest expense 3,888 637 Insurance expense 8 648 Rent expense 12,888 652 Supplies expense 8 683 Property taxes expense 4,488 684 Repairs expense 2,488 688 Utilities expense 4,?88 Totals $277,8w $27?,Bw Adjustments: a. The supplies available at the end of scal year 2017 had a cost of $3,420. b. The cost of expired insurance for the scal year is $3,780. c. Annual depreciation on equipment is $8,700. d. The June utilities expense of $530 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $530 amount owed needs to be recorded. e. The company's employees have earned $1,900 of accrued wages at scal yearend. f. The rent expense incurred and not yet paid or recorded at scal year-end is $500. 9. Additional property taxes of $600 have been assessed for this scal year but have not been paid or recorded in the accounts. h. The longterm note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the rst 11 months of the 2017 scal year. The $280 accmed interest for June has not yet been paid or recorded. {The company is required to make a $4,000 payment toward the note payable during the 2018 scal year.) Accounts payable M 6" M _n. I: _n M I: an Interest payable 2113 Rent payable 21E! Wages payable 13 2a 3112 V. Ape, Wrmdrawals - - 401 Construction fees eamed E12 Depreciation expenseEquipment E23 Wages expense 5 Interest expense 33 - _ Properly taxes expense 4AM Repairs expense 2AM Utilities expense 4,? $ \"M's 3mm: 2??,D Net Income Totals

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