Instructions acon Signals Company maintains and repairs warning lights, such as those found on radio towers and thouses. Beacon Signals Company prepared the following end-of-period spreadsheet at December 31, 19, the end of the fiscal year: Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 13,000.00 13,000.00 Accounts 40,500.00 (a) 12,500.00 53,000.00 Receivable Prepaid 4,200.00 (b) 3,000.00 1,200.00 Insurance Supplies 3,000.00 (c) 2,250.00 750.00 Land 98,000.00 98,000.00 Building 500,000.00 500,000.00 Accumulated Depreciation- 255,300.00 (d) 9,000.00 264,300.00 Building Equipment 121,900.00 121,900.00 Accumulated Depreciation- 100,100.00 (e) 4,500.00 104,600.00 Equipment Accounts 15,700.00 15,700.00 Payable Salaries and Wages (1) 4,900.00 4,900.00 Payable Uneamed 2,100.00 (g) 1,300.00 800.00 Rent Sarah Colin, 238,100.00 238, 100.00 Capital Sarah Colin, 10,000.00 10,000.00 Drawing Instructions Fees Earned 388,700.00 (a) 12,500.00 401,200.00 Rent (g) 1,300.00 1,300.00 Revenue Salaries and Wages 163,100.00 (1) 4,900.00 168,000.00 Expense Advertising 21,700.00 21,700.00 Expense Utilities 11,400.00 11,400.00 Expense Depreciation Expense- (d) 9,000.00 9,000.00 Building Repairs 8,850.00 8,850.00 Expense Depreciation Expense- (e) 4,500.00 4,500.00 Equipment Insurance (b) 3,000.00 3,000.00 Expense Supplies (c) 2,250.00 2,250.00 Expense Miscellaneous 4,350.00 4,350.00 Expense 1,000,000.00 1,000,000.00 37,450.00 37,450.00 1,030,900.00 1,030,900.00 Required: 1. Prepare an income statement for the year ended December 31. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons () on the income statement. 2. Prepare a statement of owner's equity for the year ended December 31. No additional investments were made during the year. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items. 3. Prepare a balance sheet as of December 31. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons () or the word "Less" on the balance sheet; they will automatically insert where necessary. 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Explanations should be omitted. If you are unsure of account titles, see the chart of accounts. 5. Prepare a post-closing trial balance.
Instructions acon Signals Company maintains and repairs warning lights, such as those found on radio towers and thouses. Beacon Signals Company prepared the following end-of-period spreadsheet at December 31, 19, the end of the fiscal year: Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 Unadjusted Trial Adjustments Adjusted Trial Balance Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 13,000.00 13,000.00 Accounts 40,500.00 (a) 12,500.00 53,000.00 Receivable Prepaid 4,200.00 (b) 3,000.00 1,200.00 Insurance Supplies 3,000.00 (c) 2,250.00 750.00 Land 98,000.00 98,000.00 Building 500,000.00 500,000.00 Accumulated Depreciation- 255,300.00 (d) 9,000.00 264,300.00 Building Equipment 121,900.00 121,900.00 Accumulated Depreciation- 100,100.00 (e) 4,500.00 104,600.00 Equipment Accounts 15,700.00 15,700.00 Payable Salaries and Wages (1) 4,900.00 4,900.00 Payable Uneamed 2,100.00 (g) 1,300.00 800.00 Rent Sarah Colin, 238,100.00 238, 100.00 Capital Sarah Colin, 10,000.00 10,000.00 Drawing Instructions Fees Earned 388,700.00 (a) 12,500.00 401,200.00 Rent (g) 1,300.00 1,300.00 Revenue Salaries and Wages 163,100.00 (1) 4,900.00 168,000.00 Expense Advertising 21,700.00 21,700.00 Expense Utilities 11,400.00 11,400.00 Expense Depreciation Expense- (d) 9,000.00 9,000.00 Building Repairs 8,850.00 8,850.00 Expense Depreciation Expense- (e) 4,500.00 4,500.00 Equipment Insurance (b) 3,000.00 3,000.00 Expense Supplies (c) 2,250.00 2,250.00 Expense Miscellaneous 4,350.00 4,350.00 Expense 1,000,000.00 1,000,000.00 37,450.00 37,450.00 1,030,900.00 1,030,900.00 Required: 1. Prepare an income statement for the year ended December 31. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons () on the income statement. 2. Prepare a statement of owner's equity for the year ended December 31. No additional investments were made during the year. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items. 3. Prepare a balance sheet as of December 31. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons () or the word "Less" on the balance sheet; they will automatically insert where necessary. 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Explanations should be omitted. If you are unsure of account titles, see the chart of accounts. 5. Prepare a post-closing trial balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The screenshot is cut because it wouldn't fit, but it begins on the second image where it ends in the first image. I need the last three questions done which are listed in the second image.

Transcribed Image Text:Instructions
acon Signals Company maintains and repairs warning lights, such as those found on radio towers and
thouses. Beacon Signals Company prepared the following end-of-period spreadsheet at December 31,
19, the end of the fiscal year:
Beacon Signals Company
End-of-Period Spreadsheet
For the Year Ended December 31, 2019
Unadjusted Trial
Adjustments
Adjusted Trial Balance
Balance
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
13,000.00
13,000.00
Accounts
40,500.00
(a) 12,500.00
53,000.00
Receivable
Prepaid
4,200.00
(b) 3,000.00
1,200.00
Insurance
Supplies
3,000.00
(c) 2,250.00
750.00
Land
98,000.00
98,000.00
Building
500,000.00
500,000.00
Accumulated
Depreciation-
255,300.00
(d) 9,000.00
264,300.00
Building
Equipment
121,900.00
121,900.00
Accumulated
Depreciation-
100,100.00
(e) 4,500.00
104,600.00
Equipment
Accounts
15,700.00
15,700.00
Payable
Salaries and
Wages
(1) 4,900.00
4,900.00
Payable
Uneamed
2,100.00
(g) 1,300.00
800.00
Rent
Sarah Colin,
238,100.00
238, 100.00
Capital
Sarah Colin,
10,000.00
10,000.00
Drawing

Transcribed Image Text:Instructions
Fees Earned
388,700.00
(a) 12,500.00
401,200.00
Rent
(g) 1,300.00
1,300.00
Revenue
Salaries and
Wages
163,100.00
(1) 4,900.00
168,000.00
Expense
Advertising
21,700.00
21,700.00
Expense
Utilities
11,400.00
11,400.00
Expense
Depreciation
Expense-
(d) 9,000.00
9,000.00
Building
Repairs
8,850.00
8,850.00
Expense
Depreciation
Expense-
(e) 4,500.00
4,500.00
Equipment
Insurance
(b) 3,000.00
3,000.00
Expense
Supplies
(c) 2,250.00
2,250.00
Expense
Miscellaneous
4,350.00
4,350.00
Expense
1,000,000.00 1,000,000.00 37,450.00 37,450.00 1,030,900.00 1,030,900.00
Required:
1. Prepare an income statement for the year ended December 31. If a net loss has been incurred,
enter that amount as a negative number using a minus sign. Be sure to complete the statement
heading. Use the list of Labels and Amount Descriptions for the correct wording of text items
other than account names. You will not need to enter colons () on the income statement.
2. Prepare a statement of owner's equity for the year ended December 31. No additional
investments were made during the year. For those boxes in which you must enter subtracted or
negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of
Labels and Amount Descriptions for the correct wording of text items.
3. Prepare a balance sheet as of December 31. Fixed assets must be entered in order according to
account number. Be sure to complete the statement heading. Use the list of Labels and Amount
Descriptions for the correct wording of text items other than account names. You will not need to
enter colons () or the word "Less" on the balance sheet; they will automatically insert where
necessary.
4. Based upon the end-of-period spreadsheet, journalize the closing entries. Explanations should
be omitted. If you are unsure of account titles, see the chart of accounts.
5. Prepare a post-closing trial balance.
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