Question
Boilermaker unlimited specializes in building new homes and remodeling existing homes remodeling projects include adding game rooms, changing kitchen cabinets and countertops and updating bathrooms
Boilermaker unlimited specializes in building new homes and remodeling existing homes remodeling projects include adding game rooms, changing kitchen cabinets and countertops and updating bathrooms below is the year end adjusted trial balance of Boilermaker
Debits. Credits
Cash. 15200
Account receive 24200
Supplies. 31200
Prepaid insurance 6200
Equipment. 525000
Accumulated depreciation. 168000
Accounts payable. 30200
Salaries payable. 27200
Utilities payable. 4200
Note payable (due in 5yrs) 120000
Common stock. 160000
Retained earnings. 60000
Dividend. 25200
Service revenue new construction. 410000
Service revenue remodeling. 256000
Salaries expense. 152000
Supplies expense. 277000
Depreciation expense 42000
Insurance expense. 24200
Utilities expense. 41200
Interest expense. 7200
Service fee expense. 65000
1. Prepare and income statement for the year ended December 31,2021.
2.Prepare a stockholders equity for the year ended December 31,2021 note that during the year the company. Issues additional common stock for $22000. This amount for common stock in the adjusted trial balance
3. Prepare the classified balance sheet for the year ended December 31, 2021
I am not sure what i did wrong everything is balanced yet it is missing something.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started