ALERT SECURITY SERVICES CO. Income Statement For the Year Ended October 31, 2016 Revenues: Fees earned Expenses: Wages expense Rent expense Insurance expense Utilities expense Supplies expense Depreciation expense Miscellaneous expense Total expenses Net income ALERT SECURITY SERVICES CO. Statement of Owner's Equity For the Year Ended October 31, 2016 Brenda Schultz, capital, November 1, 2015 Net income for the year Less withdrawals Increase in owner's equity Brenda Schultz, capital, October 31, 2016 lems: Series A ets: PR 4-1A Financial statements and closing entries OBJ. 1,2,3 Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Lamp Light Company prepared the following end-of-period spreadsheet at December 31, 2016, the end of the fiscal year: 1 2 3 A B C F DE Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2016 G Unadjusted 4 5 Trial Balance Adjustments Adjusted Trial Balance Cr. Dr. Dr. Cr. Dr. Cr. 6 Account Title 10,800 7 10,800 8 Cash 9 Accounts Receivable 38,900 (a) 11,300 50,200 (b) 3,000 1,200 10 Prepaid Insurance 4,200 (c) 2,250 480 11 Supplies 2,730 98,000 12 Land 98,000 400,000 13 Building 400,000 14 Accum. Depr-Building 205,300 (d)10,100 215,400 101,000 15 Equipment 101,000 16 Accum. Depr.-Equipment 85,100 (e) 6,680 91,780 17 Accounts Payable 15,700 15,700 18 Salaries & Wages Payable (4.900 4,900 19 Unearned Rent 2,100 (g) 1,300 800 20 Ted Hickman, Capital 203,100 203,100 21 Ted Hickman, Drawing 10,000 10,000 22 Fees Earned 363,700 (a)11,300 375,000 23 Rent Revenue (g) 1,300 1,300 24 Salaries & Wages Expense 163,100 (4,900 168,000 25 Advertising Expense 21,700 1279 21,700 26 Utilities Expense 11,400 11,400 27 Depr. Exp-Building 28 Repairs Expense (d) 10,100 10,100 8,850 8,850 29 Depr. Exp.-Equipment 30 Insurance Expense (e) 6,680) 6,680 31 Supplies Expense (b) 3,000) 3,000 32 Misc. Expense 33 34 (c) 2,250 2,250 4,320 4,320 875,000 875,000 39,530 39,530 907,980 907.980 Instructions 1. Prepare an income statement for the year ended December 31. 2. Prepare a statement of owner's 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