ogle Chrome File Edit View History Bookmarks Profiles My Inbox (232) - abigailof X Tab Window Help My Verify Your Email Addr 98 × G The following unadjust x iConnect - Home X M Question 4- Chapter ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... C bjs-Google Search Chapter 4 Homework 29.4 points 4 Saved New Help Save & Exit Check my 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 $51,300 on June 30 of the prior year, and the owner invested $27,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 eBook Number Account Title 101 Cash Ask 126 Supplies 128 Prepaid insurance Print 167 168 eferences 201 Equipment Accumulated depreciation-Equipment Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 V. Ace, Withdrawals 403 Construction revenue 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 683 684 Repairs expense 690 Supplies expense Property taxes expense Utilities expense Totals 3 Debit $ 18,500 10,000 6,000 129,620 Credit $ 22,500 6,200 0 0 0 28,000 78,300 30,500 130,000 0 45,000 3,080 0 11,000 5,000 2,000 4,300 $ 265,000 $ 265,000 < Prev 4 of 6 sty N Next > 43 A Aa 10 Google Chrome C Gbjs-Google Search Chapter 4 Homework i Edit View History Bookmarks Profiles Tab Window Help x My Inbox (232) - abigailof X M Verify Your Email Addre x The following unadjust × WiConnect - Home x M Question 4- Chapter - × ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... 1 New C Saved Help Save & Exit Su 4 Adjustments: 29.4 points eBook Ask References a. Supplies available at the end of the current fiscal year total $3,600. b. Cost of expired insurance for the current fiscal year is $3,780. c. Annual depreciation on equipment is $8,400. d. June utilities expense of $530 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $530 amount owed must be recorded. e. Employees have earned $1,500 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $200. g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $280 of accrued interest for June has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for the current fiscal 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 closing entries (all dated June 30). 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30. Complete this question by entering your answers in the tabs below. Check my w Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above a ACE CONSTRUCTION COMPANY < Prev 4 of Next > 3 tv N 4 MacBook Pro Aa b

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chapter 4 Homework
29.4
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Check my
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 $51,300 on June 30 of the prior year, and the owner invested $27,000 cash during the current fiscal
year.
ACE CONSTRUCTION COMPANY
Unadjusted Trial Balance
June 30
eBook
Number
Account Title
101
Cash
Ask
126
Supplies
128
Prepaid insurance
Print
167
168
eferences
201
Equipment
Accumulated depreciation-Equipment
Accounts payable
203
Interest payable
208
Rent payable
210
Wages payable
213
Property taxes payable
251
Long-term notes payable
301
V. Ace, Capital
302
V. Ace, Withdrawals
403
Construction revenue
612
Depreciation expense-Equipment
623
Wages expense
633
Interest expense
637
Insurance expense
640
Rent expense
652
683
684
Repairs expense
690
Supplies expense
Property taxes expense
Utilities expense
Totals
3
Debit
$ 18,500
10,000
6,000
129,620
Credit
$ 22,500
6,200
0
0
0
28,000
78,300
30,500
130,000
0
45,000
3,080
0
11,000
5,000
2,000
4,300
$ 265,000 $ 265,000
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Transcribed Image Text:ogle Chrome File Edit View History Bookmarks Profiles My Inbox (232) - abigailof X Tab Window Help My Verify Your Email Addr 98 × G The following unadjust x iConnect - Home X M Question 4- Chapter ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... C bjs-Google Search Chapter 4 Homework 29.4 points 4 Saved New Help Save & Exit Check my 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 $51,300 on June 30 of the prior year, and the owner invested $27,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 eBook Number Account Title 101 Cash Ask 126 Supplies 128 Prepaid insurance Print 167 168 eferences 201 Equipment Accumulated depreciation-Equipment Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 V. Ace, Withdrawals 403 Construction revenue 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 683 684 Repairs expense 690 Supplies expense Property taxes expense Utilities expense Totals 3 Debit $ 18,500 10,000 6,000 129,620 Credit $ 22,500 6,200 0 0 0 28,000 78,300 30,500 130,000 0 45,000 3,080 0 11,000 5,000 2,000 4,300 $ 265,000 $ 265,000 < Prev 4 of 6 sty N Next > 43 A Aa
10
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×
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe...
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Adjustments:
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eBook
Ask
References
a. Supplies available at the end of the current fiscal year total $3,600.
b. Cost of expired insurance for the current fiscal year is $3,780.
c. Annual depreciation on equipment is $8,400.
d. June utilities expense of $530 is not included in the unadjusted trial balance because the bill arrived after the trial balance was
prepared. The $530 amount owed must be recorded.
e. Employees have earned $1,500 of accrued and unpaid wages at fiscal year-end.
f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $200.
g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end.
h. $280 of accrued interest for June has not yet been paid or recorded.
Required:
1. Prepare a 10-column work sheet for the current fiscal 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 closing entries (all dated June 30).
3a. Prepare the income statement for the year ended June 30.
3b. Prepare the statement of owner's equity for the year ended June 30.
3c. Prepare the classified balance sheet at June 30.
Complete this question by entering your answers in the tabs below.
Check my w
Required 1 Required 2A Required 2B Required 3A
Required 3B Required 3C
Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above a
ACE CONSTRUCTION COMPANY
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Transcribed Image Text:10 Google Chrome C Gbjs-Google Search Chapter 4 Homework i Edit View History Bookmarks Profiles Tab Window Help x My Inbox (232) - abigailof X M Verify Your Email Addre x The following unadjust × WiConnect - Home x M Question 4- Chapter - × ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.mwcc.edu%252Fwe... 1 New C Saved Help Save & Exit Su 4 Adjustments: 29.4 points eBook Ask References a. Supplies available at the end of the current fiscal year total $3,600. b. Cost of expired insurance for the current fiscal year is $3,780. c. Annual depreciation on equipment is $8,400. d. June utilities expense of $530 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $530 amount owed must be recorded. e. Employees have earned $1,500 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $200. g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $280 of accrued interest for June has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for the current fiscal 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 closing entries (all dated June 30). 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30. Complete this question by entering your answers in the tabs below. Check my w Required 1 Required 2A Required 2B Required 3A Required 3B Required 3C Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above a ACE CONSTRUCTION COMPANY < Prev 4 of Next > 3 tv N 4 MacBook Pro Aa b
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