can you answer question #2 that follows up the over-and underbillings
Determine over- and underbillings for a company with the following information Job Number: 20-318 Job Name: Mountain Peak Office Remodel Current Contract Amount: \$256,852 Total Estimated Cost at Completion: $225,236 Actual Costs to Date: $202,138 Total Billed: $252,253 Job Number: 20-319 Job Name: Market Street Warehouse Current Contract Amount: $55,123 Total Estimated Cost at Completion: $45,224 Actual Costs to Date: $5,211 Total Billed: $5,500 Using the chart of accounts in Figure 2-1 (textbook) (attached at the end of this homework assignment), determine the changes to the balance sheet as a result of recording the over-and underbillings from Problem \#1 above. CHART OF ACCOUHTS 110 Cesh 730 Papain erd Mainlarance 120 Account Roocivabie-Tade 760 Fidat ard tutriction 181 Acrouns Recevabefieenton 750. Taxs, Usentes, and hsurence 150 heitary 7o Equifnent Costs Craggod b Enployes 140 Cees and Profes in Eecest of Blings 790 Equipnent Coeds Crarged b Jobs 150 Nctes Pecevatle IIs Die firan Cosstructian Louro 805 Averting 1 1e0 Prapaid Expenses 895 Parroien 159 Oner Curren Assets 810 Car and Truk Expenses 81: Conputer ard Cficor Furrtin 210 Bieding and Land 812 Pepeirs ard Maintenanoe 220 Censtuitor Equiptent 819 Depraciation 200 Thuoke and Aulos B20 Erpbyea Wares ard Sehries 240 Otice Equipnent 821 Enpbyee Berefts 250 Less Aca Ceprocidion te2 Enployes Retremost 260 Captal Leases Erpboses Racaiting 299 Oner Asses Q24 Erpbyee fiaining e2s Erployde Taes 310 Accounis Payable-liade 830 Insurance 311 Acosuns Payable-feterticn 635 Twes ard Licenses 320 Bilinge in Excoese of Codts and Profte B4) Cffice Supples 330 Notes Parabla 841 clica Purctese 340 Accuas Payral 642 Ctica Rert 311 Acousd Popabios 843 Citca Utilies 342 Acorusd laxm 84t Fostage and Deiney 34. Accuusd hsuranee 85 Jaritaria and Coaring 344 Accued Vaeztion 845 Jalaphone 350 Capital Leasts Payable 85) Chanitabie Coeritulions 960 Warreny Resorve E55 Cuas and Mambersips 370 Oher Curen Liablies 66) Puolcatons and Subserpouns 330 Long-TermLlabilites e65 Logdi and Poiesional Barrixes (7) Iteals and Enletairnent 410 Capital Sook 875 Trivel 420 fetsinted Eamings (6) Bank Feas 430 Curmt Feriod Net Inosne. 681 lntersst Experse (3s Bas Detts 5x Rovence 891 Unalocated Labo: 892 Unalosated Naverals 610 Natarlas eso Wenanty Experse 620 Labo: 899 Mroslaneois 630 Suboortrad 899 Ovenued Charged ke Las 040 Equiqment 650 Oher 910 Oher incorre 520 Oher Expease 710 Pant and Leoss Poymente 960 heons Tax 720 Depteciaficn
