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 owner's capital account was $56,700, and the owner invested $27.000 cash in the company during the 2019 fiscal year. Credit Debit $16.569 8.000 6,000 146,660 $ 24,5ee 6,400 ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2019 Account Title 191 Cash 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 652 Supplies expense 683 Property taxes expense 684 Repairs expense 690 Utilities expense Totals 24,00 83.700 28,500 138,000 44.000 2,640 12,000 4.800 2.500 5.000 $276.609 $275,600 Adjustments: a. The supplies available at the end of fiscal year 2019 had a cost of $2,880. b. The cost of expired insurance for the fiscal year is $3.780. c. Annual depreciation on equipment is $8.200 d. The June utilities expense of $580 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $580 amount owed needs to be recorded e. The company's employees have earned $1,300 of accrued and unpaid wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $400. a. The supplies available at the end of fiscal year 2019 had a cost of $2,880. b. The cost of expired insurance for the fiscal year is $3780 c. Annual depreciation on equipment is $8.200 d. The June utilities expense of $580 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $580 amount owed needs to be recorded. e. The company's employees have earned $1,300 of accrued and unpaid wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $400. 9. Additional property taxes of $800 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $240 accrued interest for June on the long-term notes payable has not yet been paid or recorded 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 $56700, and the owner invested $27.000 cash in the company during the 2019 fiscal year. 20. 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: Required 2A Required 2B Required A Required 38 Required 30 Prepare a 10-column worksheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, $56,700, and the owner invested $27,000 cash in the company during the 2019 fiscal year Saved And of Chapter Problems Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 38 Required 3C Prepare the adjusting entries (all dated June 30, 2019). View transaction list Journal entry worksheet Required 1 Required 2A Required 28 Required 3A Required 38 Required 30 Prepare the adjusting entries (all dated June 30, 2019). View transaction list Journal entry worksheet View transaction list Journal entry worksheet View transaction list Journal entry worksheet View transaction list Journal entry worksheet 1 2 3 4 5 Additional property taxes of $800 have been assessed for this fiscal year but have not been paid or recorded in the accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Journal entry worksheet View transaction list Journal entry worksheet Record the entry to close expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2019 TT DIT 1 Journal entry worksheet Record the entry to close income summary account. I Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2019 Record entry Clear entry View general journal View transaction list Journal entry worksheet Required 1 Required 2A Required 2B Required 3A Required 38 Required 30 Prepare the income statement for the year ended June 30, 2019. ACE CONSTRUCTION CO. Income Statement For Year Ended June 30, 2019 Revenues: Expenses Total expenses Required i Required 2A Required 2B Required 3A Required 3B Required 3C Prepare the statement of owner's equity for the year ended June 30, 2019. The June 30, 2018, credit balance capital account was $56,700, and the owner invested $27,000 cash in the company during the 2019 fiscal ye. ACE CONSTRUCTION CO. Statement of Owner's Equity For Year Ended June 30, 2019 V. Ace, Capital, June 30, 2018 V. Ace, Capital, June 30, 2019 ACE CONSTRUCTION CO. Balance Sheet June 30, 2019 kipped eBook Print 1 ferences