ADAMS CONSTRUCTION CO.

Unadjusted Trial Balance Adjustment

June 30, 2011

No. Accounts Title Debit Credit Debit

101 Cash $ 17,500
126 Supplies 8900
128 Prepaid Insurance 6200
167 Equipment 131000
168 Accumulated Depreciation-Equipment $ 25,250
201 Accounts Payable 5800
203 Interest Payable 0
208 Rent Payable 0
210 wages Payable 0
213 Property Taxes Payable 0
251 Long-term notes payable 24000
301 S. Adams, capital 77660
302 S. Adams, Withdrawals 30000
401 Construction fees earned 134000
612 Depreciation expense-Equipment 0 8500
623 Wages expense 45860 1600
633 Interest expense 2640 240
637 Insurance expense 0 3900
640 Rent expense 13200 200
652 Supplies expense 0 5700
683 Property Taxes expense 4600 900
684 Repairs expense 2810
690 Utilities expense 4000 550
Totals $ 266,710 $ 266,710 21590
Net income
Totals

The following unadjusted trial Balance is for Adams Construction Co. as of the end of its 2011 fiscal year .
The june 30, 2010 credit balance of the owner`s capital account was $52,660 and the owner invested
$25,000 cash in the company during the 2011 fiscal year.

a 10-column work sheet for fiscal year 2011, starting with the unadjusted trial balance and including adjustm
a) The supplies available at the end of fiscal year 2011 had a cost of $3,200. (LO 1, 2, 6)
b) The cost of expired insurance for the fiscal year is $3,900. (LO 1, 2, 6)
c) Annual depreciation on equipment is $8,500. (LO 1, 2, 6)
d) The June utilities expense of $550 is not included in the unadjusted trial balance because the bill arrived
e) The company’s employees have earned $1,600 of accrued wages at fiscal year-end. (LO 1, 2, 6)
f) The rent expense incurred and not yet paid or recorded at fiscal year-end is $200. (LO 1, 2, 6)
g) Additional property taxes of $900 have been assessed for this fiscal year but have not been paid or recor
 Statement of Owners Equity
Adjustment Adjusted Income Statement
and Balance Sheet

Credit Debit Credit Debit Credit Debit

17500 17500
5700 3200 3200
3900 2300 2300
131000 131000
8500 33750
550 6350
240 240
200 200
1600 1600
900 900
24000
77660
30000 30000
134000 134000
8500 8500
47460 47460
2880 2880
3900 3900
13400 13400
5700 5700
5500 5500
2810 2810
4550 4550
21590 278700 278700 94700 134000 18400
39300
134000 134000 18400

d of its 2011 fiscal year .

the owner invested

lance and including adjustments based on these additional facts. (LO 3,7)

nce because the bill arrived after the trial balance was prepared. The $550 amount owed needs to be recorded. (LO 1, 2, 6)
ar-end. (LO 1, 2, 6)
$200. (LO 1, 2, 6)
have not been paid or recorded in the accounts. (LO 1, 2, 6)
 ement of Owners Equity
and Balance Sheet

Credit

33750
6350
240
200
1600
900
24000
77660

144700
39300
184000

eeds to be recorded. (LO 1, 2, 6)