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 $55,200, and the owner invested $22,000 cash in the company during the 2019 fiscal year.

1. The supplies available at the end of fiscal year 2019 had a cost of $3,240.
2. The cost of expired insurance for the fiscal year is $3,465.
3. Annual depreciation on equipment is $8,700.
4. The June utilities expense of $570 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $570 amount owed needs to be recorded.
5. The companys employees have earned $1,300 of accrued and unpaid wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $400.
7. Additional property taxes of $700 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The $270 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 owners capital account was $55,200, and the owner invested $22,000 cash in the company during the 2019 fiscal year.

Credit Debit $ 16,500 9,000 5,500 137,530 $ 21,000 6, 200 0 0 ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2019 No. Account Title 101 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 0 27,000 77,200 33,500 141,000 43,000 2,970 0 14,000 4,500 2,300 3,600 $272,400 $272,400 ACE CONSTRUCTION CO. Work Sheet For Year Ended June 30, 2019 Unadjusted Trial Balance Adjustments Income Statement Adjusted Trial Balance Dr. Cr. Balance Sheet and Statement of Owner's Equity Dr. Cr. No. Account Title Cr. Dr. Cr. Dr. Cr. 101 Cash Dr. $ 16,500 9.000 5,500 137,530 21.000 6,200 27,000 77,200 126 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 33,500 141,000 43,000 2.970 14.000 4,500 2,300 3,600 $ 272,400 $ 272,400 $ 0 $ 0 $ 0 $ 0 0 0 1 0 0 Net Income Totals $ 0 $ 0 $ 0 $ 0