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The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V. Ace, Capital
The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V. Ace, Capital account was $57,300 on June 30 of the prior year, and the owner invested $23,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Number Account Title Debit Credit 101 Cash $ 18,500 126 Supplies 8,500 128 Prepaid insurance 5,500 167 Equipment 137,430 168 Accumulated depreciationEquipment $ 21,000 201 Accounts payable 5,200 203 Interest payable 0 208 Rent payable 0 210 Wages payable 0 213 Property taxes payable 0 251 Long-term notes payable 27,000 301 V. Ace, Capital 80,300 302 V. Ace, Withdrawals 30,500 403 Construction revenue 147
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