Boilermaker Unlimited specializes in building new homes and remodeling existing

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. I balance of Boilermaker Unlimited BOILERMAKER UNLIMITED Adiusted Trial Balance December 31, 2015 Debits Credits Accounts Cash Accounts Receivable Supplies Prepaia Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Pavable Utilities Pavable Notes Payable (due in 5 years) Common Stock Retained Earninas Dividends Service Revenue-new construction $ 15,300 24,300 31,300 6,300 537,500 $ 172,000 30,300 27,300 4,300 130,000 165,000 50,500 25,300 415,000 259,000 Service Revenue-remodeling Salaries Expense Supplies Expense Depreciation Expense nsurance Expense Utilities Expense Interest Expense Service Fee Expense 153,000 278,000 43,000 24,300 41,300 7,800 66,000 Totals $1,253,400 $1,253,400

Explanation / Answer

1. Prepare an income statement for the year ended December 31, 2015:

2. Prepare the Statement of Stockholders' equity for the year ended December31, 2015:

3. Prepare the Classified balance Sheet for the year ended December 31,2015:

BM Unlimited Income Statement For the year ended December31, 2015 Details Amount Amount Service Revenues: Service Revenue - New Construction $ 415,000 Service Revenue - Remodeling $ 259,000 Total Revenues $    674,000 Expenses: Salaries expense $ 153,000 Supplies expense $ 278,000 Depreciation expense $    43,000 Insurance expense $    24,300 Utilities expense $    41,300 Interest expense $      7,800 Service fee expense $    66,000 Total Expenses $    613,400 Net income $      60,600

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---