Required

$1.$ ?Prepare and complete a $10-$column work sheet for the current fiscal year, starting with the

unadjusted trial balance and including adjustments using the following additional information.

a$.$ ?Supplies available at the end of the current fiscal year total $$3,300.$

b$.$ ?Cost of expired insurance for the current fiscal year is $$3,800.$

c$.$ ?Annual depreciation on equipment is $$8,400.$

d$.$ ?June utilities expense of $$650$ ?is not included in the unadjusted trial balance because the bill arrived

after the trial balance was prepared. The $$650$ ?amount owed must be recorded.

e$.$ ?Employees have earned $$1,800$ ?of accrued and unpaid wages at fiscal year$-$end.

f$.$ ?Rent expense incurred and not yet paid or recorded at fiscal year$-$end is $$500.$

g$.$ ?Additional property taxes of $$1,000$ ?have been assessed for this fiscal year but have not been paid or

recorded at fiscal year$-$end.

h$.$ ?$$250$ ?accrued interest for June has not yet been paid or recorded.

$2.$ ?Using information from the completed $10-$column work sheet in part $1,$ ?journalize the adjusting

entries and the closing entries.

$3.$ ?Prepare the income statement and the statement of retained earnings for the year ended June

$30$ ?and the classified balance sheet at June $30.$

Check $(3)$ ?Net income, $$30,890$; Total assets, $$122,550$; Current liabilities, $$11,000$

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No. Account Title 101 Cash 126 Supplies Unadjusted Trial Balance June 30 Debit Credit $18,500 9,900 128 Prepaid insurance 7,200 167 Equipment 168 | Accumulated depreciation-Equipment 132,000 $ 26,250 201 Accounts payable 203 Interest payable 208 Rent payable 6,800 0 0 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 307 Common stock 0 0 25,000 10,000 318 Retained earnings 78,660 319 Dividends 33,000 403 Construction revenue 132,100 612 Depreciation expense-Equipment 0 623 Wages expense 46,860 633 Interest expense 2,750 637 Insurance expense 0 640 Rent expense 12,000 652 Supplies expense 0 683 Property taxes expense 7,800 684 Repairs expense 2,910 690 Utilities expense 5,890 Totals $278,810 $278,810 No. Account Title 101 Cash 126 Supplies Unadjusted Trial Balance June 30 Debit Credit $18,500 9,900 128 Prepaid insurance 7,200 167 Equipment 168 | Accumulated depreciation-Equipment 132,000 $ 26,250 201 Accounts payable 203 Interest payable 208 Rent payable 6,800 0 0 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 307 Common stock 0 0 25,000 10,000 318 Retained earnings 78,660 319 Dividends 33,000 403 Construction revenue 132,100 612 Depreciation expense-Equipment 0 623 Wages expense 46,860 633 Interest expense 2,750 637 Insurance expense 0 640 Rent expense 12,000 652 Supplies expense 0 683 Property taxes expense 7,800 684 Repairs expense 2,910 690 Utilities expense 5,890 Totals $278,810 $278,810