1. Prepare ap 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 owners 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 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 3. where necessary 4. Based upon the end-ofperiod spreadsheet journalizk the closing entries. Explanations shouid be omited. I you are unsure of account titles, see the chart of accounts 5. Prepare a post-closing trial balance Email Instructor Submit Assignment f All work saved. Learn How to Speed it Up Don't Tel Instructions Chart of Accounts Labels and Amount Descriptions Instructions Beacon Signals Company maintains and repairs warning lights, such as those Company prepared the following end-otperio found on radio towers and lighthouses. Beacon Signals d spreadsheet at December 31,2019, the end of the fiscal year Beacon Signals Company End-of Period Spreadsheet For the Year Ended December 31, 2019 Adjustments Unadjusted Trial Balance Adjusted Trial Balance Account Title Cash Accounts Receivable Prepaid Insurance Supplies Dr. 13,000.00 40,500.00 4,200.00 3,000.00 Cr Dr. Cr. Dr 13,000.00 53,000.00 Cr (a) 12,500.00 (b) 3,000.00 1,200.00 (c) 2.250.00 750.00 Learn How to Speed It Up Don't Tell Instructions Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Sarah Colin, Capital Sarah Colin, Drawing Fees Earned Rent Revenue 98,000.00 98,000.00 500,000.00 500,000.00 255,300.00 (d) 9,000.00 264,300.00 121,900.00 121,900.00 100,100.00 (e) 4,500.00 104,600.00 15,700.00 4,900.00 800.00 238,100.00 15,700.00 () 4,900.00 2,100.00 (a) 1,300.00 238,100.00 10,000.00 10,000.00 388,700.00 (a) 12,500.00 401,200.00 9)1,300.00 1,300.00 Learn How to Speed It Up Don't Fees Earned 388,/00.00 (a) 12,500 00 401,200.00 Rent Revenue (9) 1,300.00 1.300.00 63,100.00 21,700.00 11,400.00 Salaries and Wages Expense )4,900.00 168,000.00 21,700.00 1,400.00 Advertising Expense Utilities Expense Depreciation Expense-Building Repairs Expense Depreciation Expense-Equipment Insurance Expense Supplies Expense Miscellaneous Expense (d) 9,000.00 8,850.00 4,500.00 3,000.00 2,250.00 4,350.00 8,850.00 (e) 4,500.00 (b) 3,000.00 (c) 2.250.00 4,350.00 000,000.00 1,000,000.00 37450.00 37.450.00 1.030.900.00 1,030,900.00 Learn How to Speed It UpD
