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Finandal statements and desing entries Instructions Beacon Signals Company maintains and repairs warming lights, such as those found on radio towers and housesBeacon Signais Company

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Finandal statements and desing entries Instructions Beacon Signals Company maintains and repairs warming lights, such as those found on radio towers and housesBeacon Signais Company prepared the following end-of-period spreadsheet at December 31, 2019 the end of the focalyes Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Tite Cash 13,000.00 13,000.00 Accounts 40,500.00 (a) 12.500.00 53,000.00 Recevable Prepaid Insurance 4.200.00 (D) 3,000.00 (c) 2.250.00 Supplies 3.000.00 98.000.00 500,000.00 1,200.00 750.00 98,000.00 500,000.00 Building 255,300.00 (d) 9.000.00 264,300.00 121.900.00 121.800.00 Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages 100,100.00 (*) 4.500.00 104.500.00 15.700.00 15.700.00 4.900.00 4,900.00 Payable Uneamed Rent ( 1300 2.100.00 238,100.00 800.00 238,100.00 Sarah Colin Capital 10,000.00 10.000.00 Fees Eamed 401 200.00 1,300.00 Rent Revenue Page 1 168,000.00 21,700.00 11.400.00 9,000.00 Salaries and Wages 163,100.00 (1) 4,900.00 Expense Advertising 21.700.00 Expense Utilities Expense 11,400.00 Depreciation (d) 9,000.00 Expense-Building Repairs Expense 8,850.00 Depreciation (e) 4,500.00 Expense-Equipment Insurance Expense (b) 3,000.00 Supplies Expense (c) 2,250.00 Miscellaneous 4,350.00 Expense 1,000,000.00 1,000,000.00 37 450.00 8,850.00 4,500.00 3,000.00 2.250.00 1 4 4,350.00 .350.00 37.450.00 1.030,900.00 1,030,900.00 Required: 1. Prepare an income statement for the year ended December 31. #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 Nist 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 owner's equily 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 Mal of Labels and Amount Descriptions for the correct wording of text items. 3. 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 Astor Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (9 or the word "Less" on the balance sheet; they will automatically insert where necessary 4. Based upon the end of period spreadsheet, journalize the closing entries. Explanations should be omitted. If you are unsure of account titles, see the chart of accounts. 5. Prepare a post-closing trial balance. Fees Earned 388,700.00 (a) 12,500.00 401,200.00 Rent Revenue (9) 1,300.00 1,300.00

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