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 $51,900, and the owner invested $23,000 cash in the company during the 2019 fiscal year. ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2019 No. Account Title Debit Credit 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 $15,500 9,500 6,000 136, 600 $ 30,000 5,800 0 20,000 74,900 32,000 144,000 0 50,000 2,200 12,000 C 4,200 2,800 3,900 $274,700 $274,700 Totals a. The supplies available at the end of fiscal year 2019 had a cost of $3.420. b. The cost of expired insurance for the fiscal year is $3,780. c. Annual depreciation d. 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. e. The company's employees have earned $1,400 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. g. Additional property taxes of $800 have been assessed for this fiscal year but have not been paid or recorded in the accounts. h. The $200 accrued interest for June on the long-term notes payable has not yet been paid or recorded. on equipment is $8,900. 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 $51,900, 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 Required Required Required Required Required Required 2A 2B 3A 38 3C 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 $51,900, and the owner invested $23,000 cash in the company during the 2019 fiscal year. ACE CONSTRUCTION CO. Work Sheet For Year Ended June 30, 2019 Unadjusted Trial Balance Sheet and Statement of Adjusted Trial Balance Income Statement Balance Adjustments Owner's Equity Cr. Dr. No. Account Title Cr. Dr Dr. Cr. Dr. Cr. Dr. Cr. 101 Cash 15,500 9,500 6,000 136.600 126 Supplies 128 Prepaid insurance- 167 Equipment Accumulated 168 depreciation- Equipment 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 30,000 5.800 213 Property taxes payable 251 Long-tem notes payable 301|V. , tal V. Ace, 20,000 74,900 302 wthdrawals 32.000 Construction fees 401 eamed 144,000 Depreciation 612 expense- Equipment 623 Wages expense 633 Interest expense 637 Insurance expenser 640 Rent expense 652 50,000 2,200 12,000 lies expense 683 Property taxes xpense 4.200 Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare the adjusting entries (all dated June 30, 2019). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 The supplies available at the end of fiscal year 2019 had a cost of $3,420 Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal wwxxax Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare the closing entries (all dated June 30, 2019). View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2019 Record entry Clear entry View general journal ded Quiz The Following Unadjusted Trial Balance Is For A ed Quizi Required 1 Required 2A Required 2B Required 3A Required 3B 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 2B Required 2A Required 3A Required 3B Required 3C Required 1 Prepare the statement of owner's equity for the year ended June 30, 2019. The June 30, 2018, credit balance of the owner's capital account was $51,900, and the owner invested $23,000 cash in the company during the 2019 fiscal year. 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 Required 3C Required 3A ACE CONSTRUCTION CO. Balance Sheet June 30, 2019