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3. Prepare a balance sheet as of December 31,20Y5. Fixed assets must be entered in order according to account number. Be sure to complete the

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3. Prepare a balance sheet as of December 31,20Y5. Fixed assets must be entered in order according to account number. Be sure to complete the entries. Refer to the Chart or Accounts for exact wording of account titles. For those boxes in which you must enter subtracted or negative numbers us Labels Current assets Current liabilities December 31,20Y5 Expenses For the Year Ended December 31, 20Y5 Property, plant, and equipment Revenues Amount Descriptions Book value-building Book value-equipment Balancs, December 31, 20Y5 Balances, January 1, 20 Y5 Issued common stock Dividends Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total revenues Total stockholders' equity CHART OF ACCOUNTS Beacons Company General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Salaries and Wages Payable 23 Unearned Rent REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Salaries and Wages Expense 52 Advertising Expense 53 Utilities Expense 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Prepare an income statement for the year ended December 31, 20Y5. If a net loss has been incurred, er 4. Based upon the end-of-period spreadsheet, journalize the clasing entries. Refer to the Chart of Accounts for exact wording of account titles. Question not attempted. 1. Prepare an income statement for the year ended December 31, 20Y5 If a net loss has been incurred, enter that amount as a negative numbe using a minus sign. Be sure to complete the statement heading Use the list of Labels and Amount Descriptions for the correct wording of fext tems other than account names. You will not need to enter colons () on the income statement. 2. Prepare a statement of stockholders' equity for the year ended December 31,20 ys During the year, common stock or $25,000 was issued. If e net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign Be sure to complefe the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account totes: 3. Prepare a balance sheet as of December 31,20 Y5 Fxed assets must be entered in order according to account number. Be sure to complete the statement heading Refer to the fist of Labels and Amount Descriotions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account totes. For those poxes in which you must enter subtracted or negative numbers use a minus: sign. 4. Based upon the end-of-period spreadsheet, journalize the closing entnes. Refer to the Chart of Accounts for exact wording of account tives 5. Prepare a post-closing tral belance

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