the following unadjusted trial balanfe is for ace construction company at its june 30 current fiscal year end. the credit balance of the v ace capital account was $57,600 on june 30 of the prior year, and the owner invested 25,000 cash during the current fiscal year.

167 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 $57,600 on June 30 of the prior year, and the owner invested $25,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Number Account Title Debit Credit 101 Cash $ 15,500 126 Supplies 7,500 128 Prepaid insurance 7.000 Equipment 147 340 168 Accumulated depreciation Equipment $ 24,000 201 Accounts payable 5.400 203 Interest payable 0 208 Rent payable 0 210 Wages payable 213 Property taxes payable 0 251 Long-term notes payable 26.000 301 V. Ace, Capital B2.600 302 V. Ace, Withdrawals 29,500 403 Construction revenue 141.000 612 Depreciation expense-Equipment 623 Wages expense 46,000 633 Interest expense 2 860 637 Insurance expense 0 640 Rent expense 12.000 652 Supplies expense 0 683 Property taxes expense 4,000 684 Repairs expense 2.800 690 Units expense 4.500 Totals $ 270,000 $270.000 7 Adjustments 1. Supplies avalable at the end of the current fiscal year total $2.700, b. Cost of expired insurance for the current fiscal year is $4410 c. Annual depreciation on equipment is $8,300. d. June utilities expense of 5510 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $510 amount owed must be recorded. e. Employees have eamed 51.800 of accrued and unpaid wages at fiscal year-end, f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $300, 9. Additional property taxes of $800 have been assessed for this fiscal your but have not been paid or recorded at fiscal year-end. h. $260 of accrued interest for June has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for the current facal 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 dosing entries (all dated June 30). 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equily for your de June 30. 3c. Prepare the classified balance sheet at Jun 30