Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Debits Credits $ 15,600 24,600 31,600 6,600 Equipment 575,000 Accumulated

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Debits Credits $ 15,600 24,600 31,600 6,600 Equipment 575,000 Accumulated Depreciation Accounts Payable $ 184,000 Salarles Payable 30,600 Utilities Payable 27,600 Notes Payable (due in 5 years) 4,600 110,000 Common Stock 180,000 Retained Earnings 69,000 Dividends 25,600 Service Revenue-new construction Service Revenue-remodeling 430,000 268,000 Salaries Expense 156,000 Supplies Expense 281,000 Depreciation Expense 46,000 Insurance Expense 24,600 Utilities Expense 41,600 Interest Expense 6,600 Service Fee Expense Totals 69,000 $1,303,800 $1,303,000 Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare the statement of stockholders' equity for the year ended December 31, 2021, note that during the year the company issued additional common stock for $26,000. This amount is included in the amount for Common Stock in the adjusted trial balance 3. Prepare the classified balance sheet for the year ended December 31, 2021. Required: 1. Prepare an income statement for the year ended December 31, 2021 2. Prepare the statement of stockholders' equity for the year ended December 31, 2021, note that during the year the company issued additional common stock for $26,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2021 Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 Prepare an income statement for the year ended December 31, 2021, Service Revenues BOILERMAKER UNLIMITED Income Statement For the Year Ended December 31, 2021 Total Revenues Expenses Total Expenses Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for the year ended December 31, 2021, note that during the year the company issued additional common stock for $26,000. This amount is included in the amount for Common Stock in the adjusted trial balance. BOILERMAKER UNLIMITED Statement of Stockholders' Equity For the Year Ended December 31, 2021 Balance at January 1 Common Stock Retained Earnings Total Stockholders Equity Balance at December 311 8:08 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign) BOILERMAKER UNLIMITED bok Balance Sheet December 31, 2021 Assets Liabilities "rint Current Assets Current Liabilities 0 Cerences Total Current Assets Long-term Assets: Total Current Liabilities Long-term Liabilities Total Liabilities Stockholder's Equity Total Assets Total Stockholders' Equity Total Liabilities and Stockholders' Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins

7th edition

77733770, 978-0077733773

More Books

Students also viewed these Accounting questions