Question
Can you please help me completing these question parts, please? Given Question: Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects
Can you please help me completing these question parts, please?
Given 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. Below is the year-end adjusted trial balance of Boilermaker Unlimited.
Given Trial Balance:
BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2018 | ||||||
Accounts | Debits | Credits | ||||
Cash | $ | 15,500 | ||||
Accounts Receivable | 24,500 | |||||
Supplies | 31,500 | |||||
Prepaid Insurance | 6,500 | |||||
Equipment | 562,500 | |||||
Accumulated Depreciation | $ | 180,000 | ||||
Accounts Payable | 30,500 | |||||
Salaries Payable | 27,500 | |||||
Utilities Payable | 4,500 | |||||
Notes Payable (due in 5 years) | 150,000 | |||||
Common Stock | 175,000 | |||||
Retained Earnings | 31,500 | |||||
Dividends | 25,500 | |||||
Service Revenuenew construction | 425,000 | |||||
Service Revenueremodeling | 265,000 | |||||
Salaries Expense | 155,000 | |||||
Supplies Expense | 280,000 | |||||
Depreciation Expense | 45,000 | |||||
Insurance Expense | 24,500 | |||||
Utilities Expense | 41,500 | |||||
Interest Expense | 9,000 | |||||
Service Fee Expense | 68,000 | |||||
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Totals | $ | 1,289,000 | $ | 1,289,000 |
Requairment:
1- Prepare an income statement for the year ended December 31, 2018.
2- Prepare the statement of stockholders equity for the year ended December 31, 2018, note that during the year the company issued additional common stock for $25,000. 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, 2018. (Amounts to be deducted should be indicated by a minus sign.).
Thank you,
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