The following unadjusted trial balance is for Ace Construction Co. as of the end of in 2019 fiscal year, Problem 4-2A The June 30, 2018, credit balance of the owner's capital account was $53,660, and the owner invested pag woest $35,000 cash in the company during the 2019 fiscal year turgan singots C] P1 P2 Umster Blanc June 30, 2014 Acronite DER 101 Cash 1 18.500 126 Suppe Dependimurance 1200 7 137.000 160 Acume deprecinien-quent 76.259 201 Accounts payable 6.800 20) Tryb o 208 Sentyable 210 Wages 0 213 Property Pytle 251 Cong term es pot 25.000 301 V Ace Capital R360 302 V Ace With 33,000 401 Construction fees and 132.100 512 Depreciation expensement 0 62 Wages perse 46860 631 rt pense 632 mert 0 640 12.000 652Suges espa 0 683 Property spese 7300 684 Bears expense 2010 690 is een 5.10 TO 3273,810 127,810 0 Required 1. Prepare and complete a 10-column work for fiscal year 2019, starting with the unadjusted trial balance and including adjustments bascal on these additional facts. a. The supplies available at the end of fiscal year 2019 had a cost of $3.300 b. The cost of expired insurance for the fiscal year is 53.800 c. Annual depreciation on equipment is $8,400, d. The June utilities expense of $650 is not included in the unadjusted trial balance because the hill arrived after the trial balance was prepared. The $650 amount owed needs to be recorded. e. The company's employces have earned $1.800 of accrued and unpaid wages at fiscal year-end. t. The rent expense incurred and not yet paid or recorded at fiscal year-end is $500 9. Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid of recorded in the accounts. h. The $250 ccrued interest for Junc on the long-term notes payable has not yet been paid or recorded. 2. Using information from the completed 10-column worksheet in part 1. journalize the adjusting entries and the closing entries, SR 3. Prepare the income statement and the statement of owner's equity for the year ended June 30 and the $57295 classified balance sheet at June 30, 2019. 511,000 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classifica Problem 4-3A tion. If the item should not appear on the balance sheet, enter a Z in the blank Demiring balance sheet A. Current assets E. Current liabilities cinsitation B. Long-term investments Long-term liabdities 03 C. Plant assets G. Equity D. Intangible assets
