Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as a result of recording the over- and underbillings from Problem 12. The balance sheet from the beginning of the month had $5,716 in costs and profits in excess of billings and $17,235 in billings in excess of costs and profits. 110 Cash 120 Accounts Receivable-Trade 121 Accounts Receivable-Retention 130 Inventory 140 Costs and Profits in Excess of Bilings 150 Notes Receivable 155 Duo From Construction Loans 160 Prepaid Expenses 199 Other Current Assets CHART OF ACCOUNTS 730 Repairs and Maintenance 740 Fuel and Lubrication 750 Taxes, Licenses, and Insurance 798 Equipment Costs Charged to Employees 799 Equipment Costs Charged to Jobs 210 Building and Land 220 Construction Equipment 230 Trucks and Autos 240 Office Equipment 250 Loss Ace Depreciation 260 Capital Leases 299 Other Assets 805 Advertising 806 Promotion 810 Car and Truck Expenses 811 Computer and Office Furniture 812 Repairs and Maintenance 819 Depreciation 820 Employee Wages and Salaries 821 Employee Benefits 822 Employee Retirement 823 Employee Recruiting 824 Employee Training 825 Employee Taxes 827 Entertainment 830 insurance 835 Taxes and Licenses 840 Office Supplies 841 Office Purchase 842 Office Rant 343 Orice Utilities 844 Postage and Delivery B45 Janitorial and Cleaning 310 Accounts Payable-Trade 311 Accounts Payable-Retention 320 Bilings in Excess of costs and Profits 330 Notes Payable 340 Accrued Payroll 341 Accrued Payables 342 Accrued Taxes 343 Accrued Insurance 344 Accrued Vacation 350 Capital Leases Payable 360 Warranty Reserves 379 Other Current Liabilities 380 Long-Term Liabilities 410 Capital Stock 420 Retained Eamings 430 Current Period Not Income 846 Telephone 850 Charitable Contributions 855 Dues and Memberships 860 Publications and Subscriptions 865 Legal and Professional Services 870 Meals 875 Travel 880 Bank Fees 821 Interest Expense 885 Bad Dobts 891 Unallocated Labor 892 Una located Materials 893 Warranty Expense 898 Miscellaneous 899 Overhead Charged to Jobs 500 Revenue 610 Materials 620 Labor 630 Subcontract 640 Equipment 650 Other 710 Rent and Lease Payments 720 Depreciation 910 Other Income 920 Other Expense 950 Income Tax 12. Determine over- and underbillings for a company with the following information: Job Number: 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: 319 Job Name: East Street Restaurant Current Contract Amount: $350,199 Total Estimated Cost at Completion: $310,564 Actual Costs to Date: $152,364 Total Billed: $178,256 Job Number: 320 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