The following unadjusted trial balance is for Griffin Construction Company at its June 30 current fiscal year-end. The credit balance of the Retained Earnings account was $98,000 on June 30 of the prior year. Information for adjustments is as follows:

Supplies available at the end of the current fiscal year total $4,000.

Cost of expired insurance for the current fiscal year is $3,100.

Annual depreciation on equipment is $28,800.

June utilities expense of $1,200 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $1,200 amount owed must be recorded.

Employees have earned $4,950 of accrued and unpaid wages at fiscal year-end.

Rent expense incurred and not yet paid or recorded at fiscal year-end is $2,200.

Additional property taxes of $1,650 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end.

$550 accrued interest for June has not yet been paid or recorded.

Journal entry worksheet

Supplies available at the end of the current fiscal year total $4,000. Record the required adjusting entry, if any.

Note: Enter debits before credits.

1. Supplies available at the end of the current fiscal year total $4,000. Record the required adjusting entry, if any.

2. Cost of expired insurance for the current fiscal year is $3,100. Record the required adjusting entry, if any.

3. Annual depreciation on equipment is $28,800. Record the required adjusting entry, if any.

4. June utilities expense of $1,200 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $1,200 amount owed must be recorded. Record the required adjusting entry, if any.

5. Employees have earned $4,950 of accrued and unpaid wages at fiscal year-end. Record the required adjusting entry, if any.

6. Rent expense incurred and not yet paid or recorded at fiscal year-end is $2,200. Record the required adjusting entry, if any.

7. Additional property taxes of $1,650 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. Record the required adjusting entry, if any.

8. $550 accrued interest for June has not yet been paid or recorded. Record the required adjusting entry, if any.

9. Record the entry to close the revenue account(s).

10. Record the entry to close the expense account(s).

11. Record the entry to close Income summary.

12. Record the entry to close the dividends account.

Unadjusted

GRIFFIN CONSTRUCTION COMPANY
Income Statement
For Year Ended June 30
Revenues:
Expenses:

Unadjusted

GRIFFIN CONSTRUCTION COMPANY
Balance Sheet
June 30
ASSETS
Current assets:
Plant assets:
LIABILITIES AND EQUITY
Current liabilities:
Noncurrent liabilities
Equity
		0

Unadjusted Unadjusted GRIFFIN CONSTRUCTION COMPANY Trial Balance June 30, 2021 Unadjusted Unadjusted GRIFFIN CONSTRUCTION COMPANY Trial Balance June 30, 2021