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The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2015 fiscal year. The June 30, 2014, credit balance of the owners capital account was $53,660, and the owner invested $35,000 cash in the company during the 2015 fiscal year.

ACE CONSTRUCTION CO. Unadjusted Trial Balance June 30, 2015
No.	Account Title	Debit			Credit
101	Cash	$	18,500
126	Supplies		9,900
128	Prepaid insurance		7,200
167	Equipment		132,000
168	Accumulated depreciationEquipment				$	26,250
201	Accounts payable					6,800
203	Interest payable					0
208	Rent payable					0
210	Wages payable					0
213	Property taxes payable					0
251	Long-term notes payable					25,000
301	V. Ace, Capital					88,660
302	V. Ace, Withdrawals		33,000
401	Construction fees earned					132,100
612	Depreciation expenseEquipment		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

Adjustments:

a.	The supplies available at the end of fiscal year 2015 had a cost of $3,300.
b.	The cost of expired insurance for the fiscal year is $3,800.
c.	Annual depreciation on equipment is $8,400.
d.	The 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 needs to be recorded.
e.	The companys employees have earned $1,800 of accrued wages at fiscal year-end.
f.	The 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 in the accounts.
h.	The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the first 11 months of the 2015 fiscal year. The $250 accrued interest for June has not yet been paid or recorded. (The company is required to make a $5,000 payment toward the note payable during the 2016 fiscal year.)

7Required information

Required:
1.	Prepare a 10-column work sheet for fiscal year 2015, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2014, credit balance of the owners capital account was $53,660, and the owner invested $35,000 cash in the company during the 2015 fiscal year.

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