Adjusted Trial Balance for Johnson & Sons Heating, Plumbing, & Air
As of December 31, 2024
| Account # | Account Name | Debit ($) | Credit ($) |
|---|---|---|---|
| Assets | |||
| 1010 | Cash and Cash Equivalents | 2,850,000 | |
| 1200 | Accounts Receivable | 11,600,000 | |
| 1300 | Inventory | 1,800,000 | |
| 1400 | Prepaid Expenses | 450,000 | |
| 1500 | Furniture, Fixtures & Equipment (Cost) | 9,200,000 | |
| 1510 | Accumulated Depreciation - FF&E | 3,800,000 | |
| 1600 | Buildings and Improvements (Cost) | 7,500,000 | |
| 1610 | Accumulated Depreciation - Buildings | 1,300,000 | |
| 1700 | Other Assets | 200,000 | |
| Liabilities | |||
| 2100 | Accounts Payable | 5,850,000 | |
| 2200 | Accrued Expenses | 1,650,000 | |
| 2300 | Line of Credit | 5,000,000 | |
| 2400 | Equipment Loans | 2,250,000 | |
| 2500 | Mortgages Payable | 2,500,000 | |
| Equity | |||
| 3100 | Common Stock | 100,000 | |
| 3200 | Additional Paid-in Capital | 500,000 | |
| 3300 | Retained Earnings (Beginning) | 5,650,000 | |
| Revenues | |||
| 4100 | Contract Revenue - HVAC | 41,310,000 | |
| 4200 | Contract Revenue - Plumbing | 27,540,000 | |
| Cost of Goods Sold | |||
| 5100 | Materials Cost | 28,228,500 | |
| 5200 | Subcontractor Costs | 16,524,000 | |
| 5300 | Direct Labor | 10,327,500 | |
| Operating Expenses | |||
| 6100 | Management Salaries | 3,100,000 | |
| 6200 | Office Staff Salaries | 1,650,000 | |
| 6300 | Insurance | 1,200,000 | |
| 6400 | Depreciation Expense | 850,000 | |
| 6500 | Other SG&A Expenses | 2,260,000 | |
| Other Expenses | |||
| 7100 | Interest Expense | 460,000 | |
| TOTALS | 98,100,000 | 98,100,000 |