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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

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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 $57,100, and the owner invested $22,000 cash in the company during the 2017 fiscal year. Credit ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2017 No. Account Title Debit 101 Cash $ 18,000 126 Supplies 7,500 128 Prepaid insurance 5,000 167 Equipment 141, 120 168 accumulated depreciation Equipment 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wagas payable 213 Property taxes payable 251 Long-term notos payable 301 V. Aco, Capital 302 V. Ace, withdrawals 33,500 401 Construction fees earned 612 Depreciation expense-Equipment 0 623 Wages expense 47,000 633 Interest expense 3,080 637 Insurance expense 0 640 Rent expense 11,000 652 Supplies expenso 0 683 Property taxen expense 4,700 684 Repairs expense 2,600 690 Utilities expense 3,900 Totals $277.400 $ 24,500 5,800 0 0 0 0 28,000 79,100 140,000 $277,400 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 $8.500. d. The 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 needs to be recorded e. The company's employees have earned $1,100 of accrued wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $400. g. Additional property taxes of $800 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 $280 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) ACE CONSTRUCTION CO Work Shast For Year Ended June 19, 2017 Unadjusted Trial Balance Adjustments Adjusted Trial Galance Income Statement No. Account Title Dr. CE Dr. CE Dr C. 101 Cash $ 18.000 126 Supplies 7.500 125 Prepaid insurance 5 000 157 Equipment 141.120 168 Accumulated depreciation Equipment 24,500 20+ Accounts payable 5,800 203 interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of Long-term notos payablo 4.500 4,500 251 Long-term notes payable" 23,500 23,5001 301 V. Ace, Capital 79.100 302 V. Ace, Withdrawals 33,500 401 Construction fees earned 140,000 612 Depreciation expense-Equipment 623 Wages expense 47.000 3,080 633 Interest expense 637 Insurance expense 840 Rent expense 11 000 652 Supplies expense 4.700 683 Property taxes expense 2.600 684 Repars expenso 3.900 690 Ulities expense Total $277.400 $ 277400 Net Income Totals Using tom h above, the notes payable account is reclassified into ourent and long-term portions for the unadjusted trial balance columns of the workshoot MacBook Pro

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