Part 2: The following unadjusted trial balance is for Ace Construction Co. as of
ID: 2539819 • Letter: P
Question
Part 2: The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2013 fiscal year. The June 30, 2012 credit balance of the owner's capital account was $52,900, and the owner invested $27,000 cash in the company during the 2013 fiscal year. ACE CONSTRUCTION CO Unadjusted Trial Balance June 30, 2013 No. Account Title Debit Credit 101 Cash %bodylt;/p> 19,000 126 Supplies 128 Prepaid insurance 167 Equipment 7,000 6,000 139,290 accumulated 168 Depreciation - $22,000 Equipment 201 Accounts payable 6,200 251 Long-term notes 21,000 payable 301 V. Ace, equity 79,900 302 V. Ace, withdrawals 26,500 Construction fees earned 401 144,000 623 Wages expense 49,000 633 Interest expense 2,310Explanation / Answer
Hi Student, below is answer. Please revert if any further explanation needed. IF think this helped, hit LIKE button
a. Journal
B&C:
Accounts Debit Credit 1 Office Supplies Expense 4480 Office Supplies 4480 (7000-2520) 2 Insurance Expense 3780 Prepaid Insurance 3780 3 Depreciation Expense 8700 accumulated Depreciation-Equipment 8700 4 Utility Expense 520 Accounts Payable 520 5 wage Expense 1500 Wage Payable 1500 6 Rent Expenses 300 Accounts Payable 300 7 Property Expense 800 Property Tax Payable 800 8 Interest Expense 210 Interest Payable 210