Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the end of the fiscal year:

Instructions
1. Prepare an income statement for the year ended December 31, 20Y5.
2. Prepare a statement of stockholders€™ equity for the year ended December 31, 20Y5. During the year, common stock of $25,000 was issued.
3. Prepare a balance sheet as of December 31, 20Y5.
4. Based upon the end-of-period spreadsheet, journalize the closing entries.

5. Prepare a post-closing trial balance.

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Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 20Y5 Unadjusted Trial Balance Adjusted Trial Balance Adjustments 6 Account Title Dr. Cr. Dr. Cr. Dr. Cr. 10,800 48,000 1,050 8 Cash 9 Accounts Re ceivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Building 14 Accum. Depr.-Building 15 Equipment 16 Accum. Depr.-Equipment 17 Accounts Payable 18 Salaries & Wages Payable 19 Uneamed Rent 20 Common Stock 21 Retained Eamings 22 Dividends 23 Fees Eamed 24 Rent Revenue 25 Salaries & Wages Expense 26 Advertising Expense 27 Utilifes Expen se 28 Depr. Exp.-Bulding 29 Repairs Expense 30 Depr. Exp.-Equipment 31 Insurance Expense 32 Supplies Expense 33 Misc. Expense 10,800 38,900 4,200 2,730 98,000 400,000 9, 100 3,150 2,180 550 98,000 400,000 205,300 217,300 12,000 101,000 101,000 89,900 15,700 5,000 1,000 75,000 128, 100 85, 100 15,700 4,800 5,000 2,100 75,000 128, 100 1,100 10,000 10,000 372,800 1,100 363,700 9,100 1,100 5,000 163,100 21,700 16,400 12,000 8,850 4,800 3,150 2,180 4,320 37,330 905,900 905,900 158,100 21,700 16,400 12,000 8,850 4,800 3, 150 2,180 4,320 875,000 875,000 37.330 34 35