Question
Accounting Assignment if anyone can help, it would be great:) Beacon signals Company maintains and repairs warning lights, such as those found on radio towers
Accounting Assignment if anyone can help, it would be great:)
Beacon signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon signals company prepared the following end of the period spreadsheet on December 31, 2019, the end of the fiscal year.
Prepare an income statement for the year ended December 31.
Instructions 1. Prepare an income statement for the year ended December 31. 2. Prepare a statement of owners equity for the year ended December 31. No additional investments were made during the year. 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
F Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 1 2 3 Unadjusted Trial Balance Cr. Adjusted Trial Balance 4 Adjustments Cr. Dr. 5 Dr. Cr. 6 Account Title Dr. 7 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Building 14 Accum. Depr-Building 15 Equipment 16 Accum. Depr.-Equipment 17 Accounts Payable 18 Salaries and Wages Payable 19 Uneamed Rent 20 Sarah Colin, Capital 21 Sarah Colin, Drawing 22 Fees Earned 23 Rent Revenue 24 Salaries and Wages Expense 25 Advertising Expense 26 Utlibes Expense 27 Depr. Exp.-Building 28 Repairs Expense 29 Depr. Exp.-Equipment 30 Insurance Expense 31 Supplies Expense 32 Misc. Expense 33 13,000 53.000 13,000 40,500 4,200 3,000 98,000 500,000 (a) 12,500 (b) 3,000 (c) 2.250 1,200 750 98.000 500,000 255,300 (d) 9,000 264,300 121,900 121.900 100,100 104,600 15,700 4,900 800 (e) 4,500 15,700 ( 4,900 2.100 (g) 1,300 238,100 238,100 10,000 10,000 388,700 (a)12,500 (g) 1.300 401,200 1,300 163,100 21,700 11,400 ( 4,900 168,000 21,700 11.400 9,000 8,850 (d) 9,000 8,850 (e) 4,500 b) 3,000 (c) 2,250 4,500 3,000 2,250 4,350 1,000,000 1.000,000 4,350 37,450 1,030,900 1,030,900 37,450 34Step by Step Solution
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