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Boilermaker Unlimited specializes in building new homes and remodeling exisiting homes. Below is the year-end adjusted trial balance of Boilermaker Unlimited. Prepare a classified balance

Boilermaker Unlimited specializes in building new homes and remodeling exisiting homes. Below is the year-end adjusted trial balance of Boilermaker Unlimited. Prepare a classified balance sheet for the year ended December 31, 2021 image text in transcribed
Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding rame rooms changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited Prepare the classified balance sheet for the year ended December 31, 2021. Use the account names exactly as they appear below. Amounts should include commas. Amounts to be deducted should be indicated by parentheses, Hint: To calculate ending retained earnings, don't forget to add net income and subtract dividends. The balance sheet should always balance. BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash 16,000 Accounts Receivable 25,000 Supplies 32,000 Prepaid Insurance 7,000 Equipment 625,000 Accumulated Depreciation 200,000 Accounts Payable 22.000 Salaries Payable 28,000 Utilities Payable 5,000 Notes Payable (due in 5 years) 150,000 Common Stock 200,000 Retained Earnings 31,000 Dividends 26.000 Service Revenue-new construction 450,000 Service Revenue-remodeling 280,000 Salaries Expense 160,000 Supplies Expense 285,000 Depreciation Expense 50,000 Insurance Expense 25,000 Utilities Expense 42,000 Service Fee Expense 73.000 $ $ Totals 1,366,000 1,366,000

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