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 $48,000 and the owner invested another $26,000 cash in the company during the year. Challenger Construction Unadjusted Trial Balance September 30, 2020 Unadjusted Trial Balance Dr. C $ 22,200 17,400 9,040 52,000 107,000 $ 40,700 6,200 8,300 No. Account 101 Cash 126 Supplies 128 Prepaid insurance 149 Land not currently used in operations 167 Equipment 168 Accumulated depreciation, Equipment 191 Copyright 201 Accounts payable 203 Interest payable 210 Wages payable 251 Long-tere notes payable 301 Chris Challenger, capital 302 Chris Challenger, withdrawals 401 Construction revenue 612 Depreciation expense, equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 683 Business taxes expense 684 Repairs expense 690 Utilities expense 52,000 74,000 69,000 257,760 0 96,200 1,100 0 26,600 12,000 5,220 8,000 Additional Information: a. The inventory of supplies at the end of the year had a cost of $3,300. b. The cost of expired insurance for the year is $8.610. c. Annual depreciation of the equipment is $17.800. d. The September utilities expense was not included in the trial balance because the bill arrived after it was prepared. Its $710 amount needs to be recorded. e. The company's employees have earned $4.400 of accrued wages. f. 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 above additional facts Balance sheet Statement of Changes Income Statement Debe Credit De Cre NO 101 120 128 149 Account Cash Supplies Prepaid insurance Land not currently used in operation Equipment Accum depreciation equipment CHALLENGER CONSTRUCTION Work Sheet For Year Ended September 30, 2020 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit 522.200 17.400 840 52 000 107 000 540.700 167 163 128 140 167 9,840 52,000 107.000 $ 40,700 168 191 6.200 201 8,300 203 210 52000 74.000 69,000 Prepaid insurance Land not currently used in operation Equipment Accum depreciation equipment Copyright Accounts payable Interest payable Wages payable Long term notes payable Chris Challenger capital Chris Challenger, withdrawals Construction revenue Depreciation expense, equipment Wages exponse Interest expense Insurance expense Rent expense Supplies expense Business taxes expense Repairs expense Ultes expense Total 251 301 302 401 612 623 633 637 540 152 257700 95,200 1.100 26,600 683 684 090 12000 5 220 8.000 $ 432 760 S 432 700 2. Use the work sheet to prepare the adjusting and closing entries. View transaction list Journal entry worksheet
