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 $51,000, and the owner invested $29.000 cash in the company during the 2017 fiscal year. Credit Debit $ 15,000 7,500 6.500 145,360 $ 26,500 5.600 ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2017 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 Wagen 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 Wagen expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 683 Property taxes expense 684 Repairs expense 690 Utilities expense Total 24,000 80,000 32,000 145,000 46,000 2,640 15,000 5,000 2,400 3,700 $291,100 $291,100 Adjustments: 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 $4,095. 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 $1,100 of accrued wages at fiscal year-end. f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $500. g. Additional property taxes of $600 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 $240 accrued interest for June has not yet been paid or recorded. The company is required to make a $5,500 payment toward the note payable during the 2018 fiscal year.) Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including ad ustments based on the additional facts 2a. Prepare the adjusting entries. (all dated June 30, 2017). 2b. Prepare the closing entries. (all dated June 30, 2017): 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. No. Required Required Required Required Required Required 2A 2B 3A 3B 30 Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2016, credit balance of the owner's capital account was $51000, and the owner invested $29000 cash in the company during the 2017 fiscal year. ACE CONSTRUCTION CO. Work Sheet For Year Ended June 30, 2017 Unadjusted Trial Balance Sheet and Adjusted Trial Balance Adjustments Balance Income Statement Statement of Owner's Equity Account Title Dr. Cr. Dr. cr. Dr. Cr. Dr. cr. Dr. Cr. 101 Cash 15,000 126 Supplies 7.5001 128 Prepaid insurance 6,500 167 Equipment 145.360 460 Accumulated depreciation | 180 Equipment 26,500 201 Accounts payable 5,600 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of Long-term notes 220 payable 5,500 5,500 251 Long-term notes payable" 18.500 301 V. Ace, Capital 80,000 302 V. Ace. Withdrawals 32.000 401 Construction fees earned 145,000 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 2.640 637 Insurance expense 640 Rent expense 15.000 652 Supplies expense 683 Property taxes expense 5,000 Complete this question by entering your answers in the tabs below. 168 Equipm Required Required Required Required Required Required 2A 2B 3A 3B 3C Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2016, credit balance of the owner's capital account was $51000, and the owner invested $29000 cash in the company during the 2017 fiscal year. ACE CONSTRUCTION CO. Work Sheet For Year Ended June 30, 2017 Unadjusted Trial Adjusted Trial Balance Sheet and Balance Adjustments Balance Income Statement Statement of Owner's Equity No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash 15.000 126 Supplies 7.500 128 Prepaid insurance 6,500 167 Equipment 145.360 Accumulated depreciation 26,500 201 Accounts payable 5,600 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 220 Current portion of Long-term notes 220 payable" 5,500 5,500 251 Long-term notes payable 18,5001 18.500 301 IV. Ace. Capital 80,000 302 V. Ace, Withdrawals 32.000 401 I Construction fees earned 145.000 612 Depreciation expense-Equipment 623 I Wages expense 46,000 633 interest expense 2.6401 637 Insurance expense 640 Rent expense 15.000 652 Supplies expense 683 Property taxes expense 5,000 684 Repairs expense 2.400 690 Utilities expense 3.700 SIS Totals 281,1001 281.100S 0S 0S 0 $ 24,000 000 Net Income Totals IS 0S 0S 0S 01 *Using item h above, the notes payable account is reclassified into current and long-term portions for the unadjusted trial balance columns of the work sheet. HE Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unad usted trial balance and including ad ustments based on the addtional facts 2a. Prepare the adjusting entries. (al dated June 30, 2017 2b. Prepare the closing entries. all dated June 30, 2017 3a. Prepare the income statement for the year ended June 30 3b. Prepare the statement of owners equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required 3A 3B 3C 2A Prepare the adjusting entries (all dated June 30, 2017). View transaction list Journal entry worksheet Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unad usted trial balance and including ad ustments based on the addtional facts 2a. Prepare the ad usting entries. (al dated June 30, 2017 2b. Prepare the closing entries. all dated June 30, 2017 3a. Prepare the income statement for the year ended June 30 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required 3B 3C 2A 2B 3A Prepare the closing entries (all dated June 30, 2017). View transaction list Journal entry worksheet Record the entry to close revenue accounts. Note: Enter debits before credits. Date General Journal Jun 30 Debit Credit Record entry Clear entry View general journal Required 2A Required 3A > Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unad usted trial balance and including ad ustments based on the additional facts. 2a. Prepare the adjusting entries. (al dated June 30, 2017 2b. Prepare the closing entries, all dated June 30, 2017: 3a. Prepare the income statement for the vear ended June 30 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required 3A 3B 30 Prepare the income statement for the year ended June 30, 2017. ACE CONSTRUCTION CO. Income Statement For Year Ended June 30, 2017 Revenues: Expenses: TI Total expenses Required: 1. Prepare a 10-column worksheet for fiscal year 2017, starting with the unad usted trial balance and including ad ustments based on the additional facts. 2a. Prepare the adjusting entries, al dated June 30, 2017 2b. Prepare the closing entries. all dated June 30, 2017 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. 2B Required Required Required Required Required Required 3A 3B 3C Prepare the statement of owner's equity for the year ended June 30, 2017. The June 30, 2016, credit balance of the owner's capital account was $51,000, and the owner invested $29,000 cash in the company during the 2017 fiscal year. Show less ACE CONSTRUCTION CO. Statement of Owner's Equity For Year Ended June 30, 2017 V. Ace, Capital, June 30, 2016 V. Ace, Capital, June 30. 2017 Required 3A Required 3C > Required: 1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unad usted trial balance and including ad ustments based on the additional facts 2a. Prepare the ad usting entries. (al dated June 30, 2017 2b. Prepare the closing entries al dated June 30, 2017 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owners equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30, 2017 Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required 2A 2B 3A 3B 3C Prepare the classified balance sheet at June 30, 2017. ACE CONSTRUCTION CO. Balance Sheet June 30, 2017