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 $54,500, and the owner invested $27,000 cash in the company during the 2017 fiscal year Unadjusted Trial Balance June 30, 2017 Account Title Debit Credit 101 Canh $ 19,500 8,500 5,000 144,870 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 v. Ace, Withdrawals 401 Construction fees earned 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense s 27,000 6,600 23,000 81,500 26,000 138,000 46,000 2,530 13,000 652 Supplies expense 683 Property taxes expense 684 Repairs expense 690 Utilities expense 4,100 2,300 4,300 $276,100 $276, 100 Totals a. The supplies available at the end of fiscal year 2017 had a cost of $3,060. b. The cost of expired insurance for the fiscal year is $3,150. c. Annual depreciation on equipment is $8,200. d. The June utilities expense of $560 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $560 amount owed needs to be recorded e. The company's employees have earned $1,200 of accrued wages at fiscal year-end. f. The rent g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorced in the accounts. t expense incurred and not yet paid or recorded at fiscal year end is $200 h The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account e the amount paid for the s f the 2017 fiscal year. The $230 accrued interest for June has not yet been paid or recorded. (The company lis required to make a $4,000 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 besed 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 Complete this question by entering your answers in the tabs below. Required 2A Required 28 Required 3A Required 38 Required 3C Prepare a 10-column work sheet for fiscal $54500, and the owner invested $27000 cash in the company during the 2017 fiscal year year 2017, starting with the unadjusted trial balance and Including adjustments based on the additional facts. The 3 ing adjustments based on the additional facts. The J Work Sheet For Year Ended June 30, 2017 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 203 Interest payable S 19,500 8,500 5,000 44,870 19,500 3,060 3.150 144,870 19,500 3,060 27,000 6,600 8,200 560 230 200 208 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of Long-term n 251 Long-term notes payable* 301 V. Ace, Capital 302 Iv. Ace. Withdrawals 600 4,000 19,000 4,000 19,000 81,500 notes payable 26.000 26,000 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 $54,500, and the owner invested $27,000 cash in the company during the 2017 fiscal year Unadjusted Trial Balance June 30, 2017 Account Title Debit Credit 101 Canh $ 19,500 8,500 5,000 144,870 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 v. Ace, Withdrawals 401 Construction fees earned 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense s 27,000 6,600 23,000 81,500 26,000 138,000 46,000 2,530 13,000 652 Supplies expense 683 Property taxes expense 684 Repairs expense 690 Utilities expense 4,100 2,300 4,300 $276,100 $276, 100 Totals a. The supplies available at the end of fiscal year 2017 had a cost of $3,060. b. The cost of expired insurance for the fiscal year is $3,150. c. Annual depreciation on equipment is $8,200. d. The June utilities expense of $560 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $560 amount owed needs to be recorded e. The company's employees have earned $1,200 of accrued wages at fiscal year-end. f. The rent g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorced in the accounts. t expense incurred and not yet paid or recorded at fiscal year end is $200 h The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account e the amount paid for the s f the 2017 fiscal year. The $230 accrued interest for June has not yet been paid or recorded. (The company lis required to make a $4,000 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 besed 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 Complete this question by entering your answers in the tabs below. Required 2A Required 28 Required 3A Required 38 Required 3C Prepare a 10-column work sheet for fiscal $54500, and the owner invested $27000 cash in the company during the 2017 fiscal year year 2017, starting with the unadjusted trial balance and Including adjustments based on the additional facts. The 3 ing adjustments based on the additional facts. The J Work Sheet For Year Ended June 30, 2017 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 203 Interest payable S 19,500 8,500 5,000 44,870 19,500 3,060 3.150 144,870 19,500 3,060 27,000 6,600 8,200 560 230 200 208 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of Long-term n 251 Long-term notes payable* 301 V. Ace, Capital 302 Iv. Ace. Withdrawals 600 4,000 19,000 4,000 19,000 81,500 notes payable 26.000 26,000