The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owners capital account was $56,500, and the owner invested $23,000 cash in the company during the 2019 fiscal year.

ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2019No.Account TitleDebit Credit101Cash$17,000 126Supplies 9,500 128Prepaid insurance 6,000 167Equipment 145,530 168Accumulated depreciationEquipment $ 24,000 201Accounts payable 6,600 203Interest payable 0 208Rent payable 0 210Wages payable 0 213Property taxes payable 0 251Long-term notes payable 27,000 301V. Ace, Capital 79,500 302V. Ace, Withdrawals 29,500 401Construction fees earned 144,000 612Depreciation expenseEquipment 0 623Wages expense 48,000 633Interest expense 2,970 637Insurance expense 0 640Rent expense 12,000 652Supplies expense 0 683Property taxes expense 4,700 684Repairs expense 2,900 690Utilities expense 3,000 Totals$281,100 $281,100

Adjustments:

The supplies available at the end of fiscal year 2019 had a cost of $3,420.The cost of expired insurance for the fiscal year is $3,780.Annual depreciation on equipment is $8,500.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.The companys employees have earned $1,300 of accrued and unpaid wages at fiscal year-end.The rent expense incurred and not yet paid or recorded at fiscal year-end is $400.Additional property taxes of $900 have been assessed for this fiscal year but have not been paid or recorded in the accounts.The $270 accrued interest for June on the long-term notes payable has not yet been paid or recorded

Help Save & Exit Submit Saved pter 14 Graded Homework i Check my work Required: 1. Prepare a 10-column work sheet for fiscal year 2019 starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner's capital account was $56,500, and the owner invested $23,000 cash in the company during the 2019 fiscal year. 2a. Prepare the adjusting entries. (all dated June 30, 2019). 2b. Prepare the closing entries. (all dated June 30, 2019) 3a. Prepare the income statement for the year ended June 30, 2019. 3b. Prepare the statement of owner's equity for the year ended June 30, 2019. 3c. Prepare the classified balance sheet at June 30, 2019 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adiustments based $56,500, and the owner invested $23,000 cash in the company during the 2019 fiscal year. ACE CONSTRUCTION CO. Pre 1 of 2 Next >