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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 $51,600 on June 30 of the prior year, and the owner invested $22,000 cash during the current fiscal year.

ACE CONSTRUCTION COMPANY
Unadjusted Trial Balance
June 30
Number Account Title Debit Credit
101 Cash $ 16,000
126 Supplies 8,500
128 Prepaid insurance 5,500
167 Equipment 129,370
168 Accumulated depreciationEquipment $ 27,000
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 23,000
301 V. Ace, Capital 73,600
302 V. Ace, Withdrawals 33,000
403 Construction revenue 133,000
612 Depreciation expenseEquipment 0
623 Wages expense 42,000
633 Interest expense 2,530
637 Insurance expense 0
640 Rent expense 14,000
652 Supplies expense 0
683 Property taxes expense 4,400
684 Repairs expense 2,600
690 Utilities expense 3,900
Totals $ 261,800 $ 261,800

Adjustments:

  1. Supplies available at the end of the current fiscal year total $3,060.
  2. Cost of expired insurance for the current fiscal year is $3,465.
  3. Annual depreciation on equipment is $8,500.
  4. 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 must be recorded.
  5. Employees have earned $1,200 of accrued and unpaid wages at fiscal year-end.
  6. Rent expense incurred and not yet paid or recorded at fiscal year-end is $400.
  7. Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end.
  8. $230 of accrued interest for June has not yet been paid or recorded.

Required:

1. Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional information.

2a. Prepare the adjusting entries (all dated June 30).

2b. Prepare the closing entries (all dated June 30).

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.

According the informations on the top please fill out the 5 questions on below

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Journal entry worksheet Record the required adjusting entry, if any. Supplies available at the end of the current fiscal year total $3,060. Note: Enter debits before credits. \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ ACE CONSTRUCTION COMPANY } \\ \hline \multicolumn{2}{|c|}{ Statement of Owner's Equity } \\ \hline \multicolumn{2}{|c|}{ For Year Ended June 30 } \\ \hline V. Ace, Capital, June 30 prior year & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline V. Ace, Capital, June 30 current year & & \\ \hline \end{tabular} Prepare the income statement for the year ended June 30. Journal entry worksheet 4 Record the entry to close the revenue account(s). Note: Enter debits before credits

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