Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Lamp Light prepared the following end-of-period spreadsheet at December 31, 2018, the end of the fiscal year:

Instructions

1. Prepare an income statement for the year ended December 31.
2. Prepare a retained earnings statement for the year ended December 31.
3. Prepare a balance sheet as of December 31.
4. Based upon the end-of-period spreadsheet, journalize the closing entries.
5. Prepare a post-closing trial balance.

Transcribed Image Text:

Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Balance Adjusted Trial Balance Adjustments 6 Account Title tv Cr 8 Cash 9A㏄ounts Receivable 10,800 38,900 4200 2,730 98,000 400,000 10,800 50,200 300 3,000 1,200 10 Prepaid Insurance 2250 98,000 13 Building 14 Accum. Depr-Building En 16 Accum. Depr Equipment 17 Accounts Payable 18 Salaries & Wages Payable 19 Uneaned Rent 20 Common Stock 21 Retained Earnings 22 Dividends 23 Fees Eamed 24 Rent Revenue 25 Salaries & Wages Expense 26 Advertising Expense 27 Utilities Expense 28 Depr. ExpBuilding 29 Repairs Expense 0 Depr. Exp-Equipment 31 insurance Expense 32 Supplies Expense 33 Misc. Expen se 34 35 205,300 10,100 215,400 101,000 101,000 Ki,100 15,700 91,780 5,700 4,900 2,100 1,300 75,000 128,100 75,000 128,100 10,000 10,000 363,700 11,300 1,300 4,900 163,100 21,700 11,400 168,000 21,700 11,400 10,100 8,850 6,680 3,000 2,250 4,32(1 10,100 8,850 6,680 3,000 2,250 4320 75050053950 90980907.980