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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,
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 $58,500 on June 30 of the prior year, and the owner invested $28,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Number Account Title: 101 Cash Debit $ 19,500 Credit 126 Supplies 128 167 168 201 Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable 7,500 7,000 153,610 $ 24,500 6,200 203 Interest payable 0 208 Rent payable 0 210 Wages payable 0 213 251 Property taxes payable- Long-term notes payable. 0 29,000 301 V. Ace, Capital 86,500 302 V. Ace, Withdrawals 26,000 403 Construction revenue 145,000 612 Depreciation expense-Equipment O 623 Wages expense 49,000 633 Interest expense 3,190 637 Insurance expense 0 640 Rent expense 14,000 652 Supplies expense 683 Property taxes expense 4,800 684 Repairs expense 3,000 690 Utilities expense 3,600 Totals $ 291,200 $ 291,200
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