This unadjusted trial balance is for Challenger Construction at the end of its fiscal year, September 30, 2020. The beginning balance of the owner's capital account was $45,000 and the owner invested another $24,500 cash in the company during the year No. 101 Cash Challenger Construction Unadjusted Trial Balance September 30, 2020 Account Unadjusted Trial Balance Dr. 8. 126 Supplies 128 Prepaid insurance 149 Land not currently used in operations 167 Equipment Accumulated depreciation, Equipment 191 Copyright 201 Accounts payable 203 interest payable 210 wages payable 251 Long-term notes payable es Chris Challenger, capital 301 sez Chris Challenger, withdrawals aus construction revenue 612 Depreciation expense, equipment 623 Wages expense si Interest exp expense 437 Insurance expense 52 Supplies expense nas pairs expense 100 Unilities expe $ 21,900 17,100 9,480 40,000 les, see $40,400 5.900 1,000 Additional information a. The inventory of supplies at the end of the year neo e cost of $3,100 b. The cost of expired insurance for the years $5.295 c. Annuel depreciation of the equipment is $17500 d. The September utilities expense was not included in the at bence because me bill a needs to be recorded The company's employees have earned 54.100 of accrued wages twas prepared its $740 amoun Additional information: a. The inventory of supplies at the end of the year had a cost of $3.150. b. The cost of expired insurance for the year is $8,295. e. Annual depreciation of the equipment is $17.500 d. The September utilities expense was not included in the trial balance because the bill arrived after it was prepared its $740 amount needs to be recorded. e. The company's employees have earned $4.100 of accrued wages The interest expense of $110 for September has not yet been paid or recorded Required: 1. Prepare a 10-column work sheet for fiscal 2020. starting with the unadjusted trial balance and including the soove additional facts CHALLENGER CONSTRUCTION Work Sheet For Year Ended September 30, 2020 Balance Sheets Unadjusted Trial Balance Adjustments Adjunted Trial Balance Income Statement element of Changes Equity No 101 Account Debit Credit Debit Cre C C Debit Credit Debit Cell 128 Casn Duppies 21000 17,100 128 0400 149 Land hot c 40.000 107 Bouomen 100.000 100 Aut 3400 191 Cena 8000 201 Assunta at 8.000 200 210 251 300 50 301 Ca Oranger AUGE 28 400 For Year Ended September 30,2020 Balance Sheet & Unadjusted Tnal Balance Adjustments Adjusted Trial Balance Income Statement Statement of Changes in Equity No Account 101 Cash Dehil $21,000 Creat Debit Credit Debit Credit Debit Cest Debit Credit 128 Supplies 17,100) 128 Prepaid insurance 0,400 149 Land not currently used in operation 49,000 107 Equipment 105,500 108 Accum depreciation, equipment $ 40,400 101 Copyright 5,900 201 Accounts payable 8,000 203 Interest payable 210 Wages payable 261 Long-term notes payable 301 Chris Challenger, capital 302 Chris Challenger withdrawals 401 Construction revenue 40,000 00.000 67.500 257.400 012 Depreciation expanse equipm 823 Wages expense 95.900 633 Interest pense 1,100 637 Insurance pense 040 Rent paras 20.300 802 Suppies sipense 003 Business saves expense 12.000 604 Repairs spense 4900 000 Uital expense 7700 424300 $424.300 s 0% D 05 01 01 Tals W 2. Use the work sheet to prepare the adjusting and closing entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 10 Record consumption of supplies. Note: Enter dibits before credits Date Sept 30 2020 General Journal Debit Credit Record entry Clear entry Vw general journal 3-a. Prepare an income statement for the year September 30, 2020 CHALLENGER CONSTRUCTION Income Statement For Year Ended September 30, 2020 Revenues Operating expenses Total coerating agences 3-b. Prepare a statement of changes inequity for the year September 30, 2020 CHALLENGER CONSTRUCTION Statement of Changes in Equity For Year Ended September 30, 2000 Chris Challenger, capital October 1 Total Chris Challenger capital September 20 S 3-c. Prepare a balance sheet for the year September 30, 2020. $15,500 of the long-term note payable is to be paid by September 30, 2021 CHALLENGER CONSTRUCTION Balance Sheet September 30, 2020 Assets Current assets Total current assas Long term investments Property plant and equement Intangible sets Talass 1 Next >> Property, plant and equipment intangible assets Total assets Liabilities Current liablites Total current abilities Long-term labilities Total abilities Total labinas and equity Equity $ unadjusted trial balance is for Challenger Construction at the end of its fiscal year, September 30, 2020. The beginning balance of wner's capital account was $45,000 and the owner invested another $24,500 cash in the company during the year Challenger Construction Unadjusted Trial Balance September 30, 2020 Cash Supplies Account Prepaid insurance Land not currently used in operations Equipment Accumulated depreciation, Equipment Copyright Accounts payable Interest payable Wages payable Unadjusted Trial Balance Dr. $ 21,900 17,100 9,480 co. 49,000 105,500 $ 40,400 5,900 8,000 Long-term notes payable 49,000 Chris Challenger, capital 69,500 Chris Challenger, withdrawals 67,500 Construction revenue 257,400 Depreciation expense, equipment Wages expense 95,900 Interest expense 1,100 Insurance expense Rent expense 26,300 Supplies expense Business taxes expense 12,000 Repairs expense 4,920 Utilities expense 7,700 $474 100 47A 100 Dr. Cr. Cash Supplies Prepaid insurance Land not currently used in operations. Equipment Accumulated depreciation, Equipment Copyright Accounts payable $ 21,900 17,100 9,480 49,000 105,500 $ 40,400 5,900 8,000 Interest payable 0 Wages payable Long-term notes payable 0 49,000 Chris Challenger, capital 69,500 Chris Challenger, withdrawals 67,500 Construction revenue 257,400 Depreciation expense, equipment 0 Wages expense 95,900 Interest expense 1,100 Insurance expense Rent expense 26,300 Supplies expense Business taxes expense Repairs expense Utilities expense Totals 4,920 7,700 $424,300 $424,300 0 12,000 tional information: ie inventory of supplies at the end of the year had a cost of $3,150. ie cost of expired insurance for the year is $8,295. nual depreciation of the equipment is $17,500. ie September utilities expense was not included in the trial balance because the bill arrived after it was prepared. Its $740 amount eds to be recorded. ie company's employees have earned $4,100 of accrued wages. ie interest expense of $110 for September has not yet been paid or recorded. ired: pare a 10-column work sheet for fiscal 2020, starting with the unadjusted trial balance and including the above additional facts INSTRUCTION Work Sheet For Year Ended September 30, 2020 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balan Statement No. Account Debit Credit Debit Credit Debit Credit Debit Credit 101 Cash Debit $ 21,900 126 Supplies 17,100 128 Prepaid insurance 9.480 149 Land not currently used in operation 49,000 167 Equipment 105.500 168 Accum depreciation, equipment $ 40,400 191 Copyright 5,900 201 Accounts payable 8,000 203 Interest payable 210 Wages payable 251 Long-term notes payable 49,000 301 Chris Challenger, capital 69.500 302 Chris Challenger, withdrawals i 67.500 257 400 4011 Construction revenue 612 Depreciation expense, equipment 95.500 623 Wages expense 1.100 633 Interest expense: 191 Copyright 201 Accounts payable 5,900 8,000 203 Interest payable 210 Wages payable 251 Long-term notes payable: 49,000 301 Chris Challenger, capital 69,500 302 Chris Challenger, withdrawals 67,500 401 Construction revenue 257,400 612 Depreciation expense, equipment 623 Wages expense 95,900 633 Interest expense 1,100 637 Insurance expense 640 Rent expense 26,300 652 Supplies expense 12,000 683 Business taxes expense 4.920 684 Repairs expense 7,700 690 Utilities expanse $ 424.300 $424.300 5 DS 05 0 $ 0 $ 05 0 % Totals 5 US 04 Totals For Year Ended September 30, 2020 Adjustments usted Trial Balance bit Credit Debit 1,900 7,100 9,480 9,000 5,500 5,900 $ 40,400 8,000 49,000 69,500 7,500 257.400 15.900 1,100. 6.300 Adjusted Trial Balance Income Statement Balance Sheet & Statement of Changes in Equity Credit Debit Credit Debit Credit Debit Credit L L Journal entry worksheet Record consumption of supplies. Note: Enter debits before credits. Date Sept 30, 2020) General Journal Deb Credit View general journal Clear entry Record entry Journal entry worksheet