Question

I know this is a long problem,but I have been struggling with it for days. Please help as soon aspossible! Thanks!

The general ledger of Pipers Plumbing at January 1, 2015,includes the following account balances:

Cash: 4,150 (debit)

Accounts Receivable: 9,150 (debit)

Supplies: 3,150 (debit)

Equipment: 29,900 (debit)

Accumulated Deppreciation: 6,600 (credit)

Accounts Payable: 4,600 (credit)

Utilities Payable: 5,600 (credit)

Unearned Revenue: 0 (credit)

Common Stock: 19,500 (credit)

Retained Earnings: 9,150 (credit)

Totals: 45,450 (debit) 45,450 (credit)

The following is asummary of the transactions for the year:

a.

Provide plumbing services forcash, $16,500, and on account, $61,500.

b.

Collect on accounts receivable,$49,500.

c.

Issue shares of common stock inexchange for $10,000 cash.

d.

Pay salaries for the currentyear, $32,300.

e.

Pay for utilities expenses,$12,300, of which $5,600 represents costs for 2014.

f.

Receive cash in advance fromcustomers, $8,600.

g. Pay $2,300 cash dividends to stockholders.

2. Prepare each of the summary transactions listed above. 3. Prepare an unadjusted trial balance. 4. Record adjusting entries. Depreciation for the year on themachinery is $6,600. Plumbing supplies remaining on hand at the endof the year equal $1,000. Of the $8,600 paid in advance bycustomers, $6,300 of the work has been completed by the end of theyear. 5. Prepare an adjusted trial balance. 6. Prepare an income statement for the year ended December 31,2015. 7. Prepare a classified balance sheet for the year endedDecember 31, 2015. 8. Record closing entries. 9. Prepare a post-closing trial balance.