[sbssisso]

The following unadjusted trial balance is for Archer Construction Co. as of the end of its 2009 fiscal year. The June 30, 2008, credit balance of the owner's capital account was $53,800, and the owner invested $21,000 cash in the company during the 2009 fiscal year.

ARCHER CONSTRUCTION CO.
Unadjusted Trial Balance
June 30, 2009
No. Account Title Debit Credit
101 Cash $ 20,000
126 Supplies 8,500
128 Prepaid insurance 5,500
167 Equipment 150,260
168 Accd. Depreciation—Equipment 30,000
201 Accounts payable 5,800
203 Interest payable 0
208 Rent payable 0
210 Wages payable 0
213 Property taxes payable 0
251 Long-term notes payable 24,000
301 G. Archer, Capital 74,800
302 G. Archer, Withdrawals 26,000
401 Construction fees earned 146,000
612 Depreciation expense—Equipment 0
623 Wages expense 45,000
633 Interest expense 2,640
637 Insurance expense 0
640 Rent expense 13,000
652 Supplies expense 0
683 Property taxes expense 4,300
684 Repairs expense 2,200
690 Utilities expense 3,200



Totals $280,600





3. Requirement 1:

Prepare a 10-column work sheet for fiscal year 2009, starting with the unadjusted trial balance and including adjustments based on these additional facts. (Leave no cells blank - be certain to enter "0"wherever required. Omit the "$"sign in your response.)

a. The supplies available at the end of fiscal year 2009 had a cost of $3,060.
b. The cost of expired insurance for the fiscal year is $3,465.
c. Annual depreciation on equipment is $9,000.
d.

The June utilities expense of $500 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $500 amount owed needs to be recorded.
e. The company's employees have earned $1,900 of accrued wages at fiscal year-end.
f. The rent expense incurred and not yet paid or recorded at fiscal year-end is $200.
g. Additional property taxes of $800 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 2009 fiscal year. The $240 accrued interest for June has not yet been paid or recorded. (Note that the company is required to make a $5,000 payment toward the note payable during the 2010 fiscal year.)

ARCHER CONSTRUCTION CO.
Work Sheet
For Year Ended June 30, 2009
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet & Statement of Owner's Equity
No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
101 Cash 20,000 $ $ $ $ $ $ $ $
126 Supplies 8,500
128 Prepaid insurance 5,500
167 Equipment 150,260
168 Accd. Depreciation—Equipment 30,000
201 Accounts payable 5,800
203 Interest payable
208 Rent payable
210 Wages payable
213 Property taxes payable
251 Long-term notes payable 24,000
301 G. Archer, Capital 74,800
302 G. Archer, Withdrawals 26,000
401 Construction fees earned 146,000
612 Depreciation expense—Equipment
623 Wages expense 45,000
633 Interest expense 2,640
637 Insurance expense
640 Rent expense 13,000
652 Supplies expense
683 Property taxes expense 4,300
684 Repairs expense 2,200
690 Utilities expense 3,200

Totals $280,600 $280,600 $ $ $ $

Net Income

Totals $ $ $ $

I NEED HELP WITH THE FOLLOWING:

1. Do I show the $5000 for notes payable in 2010
2. I know I dr. $500 under utilities expense, but where do I apply my cr. Of $500 to balance out my adjustment trial balance

ANY HELP IS GREATLY APPRECIATED!!