The following unadjusted trial balance is for Ace Conution Co as of the end of s 2015 icall yew Problem 4-2A The June 30, 2014, credit balance of the owner's capital accou wa $536e andhe onner ivesitied Preparing a werk sheet $35,000 cash in the company daring the 3045 fiscall yea justing and closing 78 126 Supplies 167 Equipnere s 26250 2t0 wages pryable Property tes payible 3000660 32 100 epese Equipment 12.000 Required Prepare and complete a 10colme work sheet for iscall year 2015, ning with the unadjusted wial The supplies available at the end of fiscal yewr 2015 had a est of 53.300 The cot of expired insurance for the ficall year is d. The June utilities espense of 5650 is sot inclaled in the unadjniad triall balance because the bill rrived a the trial hdnce was.pr pared The Sh50_-oundnoods to be recorded. . The company's employees have earned S1.800 of acced wags at scal year-end t. The rest espense incumed and not yet paid o neconded at Escal year-end is 5500 gAdditional property tavues of $1,000 have hee ansessel o this fiscal year but have no been paid or recerded in the acoos count equals the amoun pild foer the fira 11 moets of the 201S fical year. The $250 accrued merest for June has t yet been paid or condal. The oopuy is noquired to make a 55.000 payment towand the otle puyahle during the 26 fical yea and the closing entries classifind balance shoct at June 0, 2015, 2 Using information from the completed 10-collame wk t in pt.joumalize the adjusing enr 3. Psepare the income seasement and the statement of ower's oqpity for the year ended June 30 and the Analysis Component Analyae the follouwing separate emoes and descrite how each would aect the 10-colamn work shoet Explain whether the enor is likely to be dinscocrd iomplingthe work sheet and if not the effect of the emor on the financial statements a Assume thai the adjastment for supplics csnd o a croit to Supplies and a debit to ance is incormectly entered in the Crede colu The following unadjusted trial balance is for Ace Conution Co as of the end of s 2015 icall yew Problem 4-2A The June 30, 2014, credit balance of the owner's capital accou wa $536e andhe onner ivesitied Preparing a werk sheet $35,000 cash in the company daring the 3045 fiscall yea justing and closing 78 126 Supplies 167 Equipnere s 26250 2t0 wages pryable Property tes payible 3000660 32 100 epese Equipment 12.000 Required Prepare and complete a 10colme work sheet for iscall year 2015, ning with the unadjusted wial The supplies available at the end of fiscal yewr 2015 had a est of 53.300 The cot of expired insurance for the ficall year is d. The June utilities espense of 5650 is sot inclaled in the unadjniad triall balance because the bill rrived a the trial hdnce was.pr pared The Sh50_-oundnoods to be recorded. . The company's employees have earned S1.800 of acced wags at scal year-end t. The rest espense incumed and not yet paid o neconded at Escal year-end is 5500 gAdditional property tavues of $1,000 have hee ansessel o this fiscal year but have no been paid or recerded in the acoos count equals the amoun pild foer the fira 11 moets of the 201S fical year. The $250 accrued merest for June has t yet been paid or condal. The oopuy is noquired to make a 55.000 payment towand the otle puyahle during the 26 fical yea and the closing entries classifind balance shoct at June 0, 2015, 2 Using information from the completed 10-collame wk t in pt.joumalize the adjusing enr 3. Psepare the income seasement and the statement of ower's oqpity for the year ended June 30 and the Analysis Component Analyae the follouwing separate emoes and descrite how each would aect the 10-colamn work shoet Explain whether the enor is likely to be dinscocrd iomplingthe work sheet and if not the effect of the emor on the financial statements a Assume thai the adjastment for supplics csnd o a croit to Supplies and a debit to ance is incormectly entered in the Crede colu
