I am so stuck on this problem. I have finished the adjusting journals, which I included below but when I go through the financial statements, my balance sheet never equals out. Can someone help to take me through the the adjusted balance, income statement, statement of stockholders' equity, and the balance sheet?

I have my financial statement answers on my excel sheet but cannot transfer them onto this page legibly. Hopefully you can show me where I am going wrong. Thank you!

The following unadjusted trial balance is for Groenke Construction Company as of year-end for the December 31, 20x7 fiscal year. The December 31, 20x6 credit balance of the stockholders' equity account is $61,900, and the stockholders invested $45,000 cash in the company during 20x7.

1. Account Title Debit Credit

101Cash$15,000

126Supplies $8,500

128Pre-paid insurance $11,200

167Equipment $175,000

168Accumulated depreciation - equipment $19,000

201Accounts payable$9,250

251Long-term notes payable $45,000

301Shareholders' equity $106,900

302Dividends$15,750

401Construction Revenue$153,000

623Wage expense$61,800

633Interest expense$6,250

640Rent expense$15,750

683Property tax expense $12,500

684Repairs expense$6,100

690Utilities expense$5,300

TOTALS$333,150$333,150

Instructions:

Use the template provided to:

1. Journalize the following adjusting entries as of fiscal year-end December 31, 20x7.
2. Post the adjusting entries to an unadjusted trial balance and prepare the adjusted trial balance.
3. Create financial statements, namely: i) the income statement, ii) statement of stockholders' equity, and iii) the balance sheet for 20x7.

Adjustments needed:

1. The supplies available at the end of the fiscal year 20x7 are at a cost of $5,700.
2. The company's employees have earned $3.500 in accrued wages for the fiscal year.
3. The cost of expired insurance for the fiscal year is $8,600.
4. The rent expense not yet paid or recorded in the fiscal year is $2,250.
5. Annual depreciation on equipment is $8,000; no other depreciation adjustment was made in 20x7.
6. The $450 accrued interest for December has not yet been paid and reported.
7. Additional property taxes of $625 have been assessed for the fiscal year but have not yet been paid or recorded in the accounts.
8. The December utilities expense of $425 is not included in the adjusted trial balance, because the bill arrived after the trial balance was prepared. The $425 amount owed needs to be recorded.
9. The company paid dividends of $15,575 to its shareholders on record.

I have completed:

Adjustment Journals:

1.

Supplies Expense $2,800

Supplies $2,800

2.

Wage Expense $3,500

Salaries Payable $3,500

3.

Insurance Expense $8,600

Pre-Paid Insurance $8,600

4.

Rent Expense $2,250

Rent Payable $2,250

5.

Depreciation Expense - Equipment $8,000

Accumulated Depreciation - Equipment $8,000

6.

Interest Expense $450

Interest Payable $450

7.

Property Tax Expense $625

Property Tax Payable $625

8.

Utilities Expense $425

Utilities Payable $425

9.

Retained Earnings $15,575

Dividends $15,575