$ 3,500 8,500 2,500 16,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 4,000 2,000 3,000 13,000 8,500 $30,500 0,500 The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, 510,000, and on account, 555,000. 2. March 13 Collect on accounts receivable $43,000 3. May 6 Issue shares of common stock in exchange for $12,000 cash. 4. June 30 Pay salaries for the current year, $31,000 5. September 15 Pay utilities of $3,000 from 2020 orion year). 6. November 24 Receive cash in advance from customers, 56,000. 7. December 30 Pay $1,000 cash dividends to stockholders The following information is available for the adjusting entries. Depreciation for the year on the machinery is $4.000 Plumbing supplies remaining on hand at the end of the year ego $1,200. Of the $6.000 paid in advance by customers. $5.000 of the work has been completed by the end of the year Accrued utilities at year-end amounted to $8.000 Credit 39,500 20,500 2,500 16,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense 4,000 2,000 5.000 6.000 25,000 31.000 PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Liabilities Current Assets Cash Accounts Receivable Supplies 39.500 20.500 1.200 Current Liabilities Accounts Payable Deferred Revenue Utilities Payable 2,000 1,000 8,000 61 200 11.000 Total current assets Long-term Assets Equipment Accumulated Depreciation 16,000 4.000 Total Current Liabilities Stockholder's Equity Common Stock Retained Earnings 25.000 33,200 Total Assets Total Stockholder's Equity Total Liabilities and Stockholders' Equity 81.200 5100 69.200 $