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2.00 points Problem 3-5A Prepare financial statements from an adjusted trial balance when net income...

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Accounting

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2.00 points Problem 3-5A Prepare financial statements from an adjusted trial balance when net income is positive (LO3-5) 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. BOILERMAKER UNLIMITED December 31, 2018 Debits Credits Accounts Receivable Supplies Prepaid Insurance Equipment S 14,400 25,600 32,600 5,400 Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings $ 136,000 29,400 26,400 3,400 110,000 120,000 49,600 24,400 370,000 257,000 Salaries Expense Supplies Expense Depreciation Expense Insurance Expense Utilities Expense Interest Expense Service Fee Expense 144,000 269,000 34,000 23,400 40,400 6,600 57,000 $1,101,800 $1,101,800

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