Help ASAP. (Ch.4 App) (PR.04-01)

income statement has 16 rows

statement of owners equity has 5 rows

journal has 15 rows

Instructions Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Sgnals Company prepared the following end of period 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 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account the De CA Di CA DV CE Cash 13,000.00 13 000 00 Accounts Receivable 40.50000 a) 12,500.00 5300000 Prepad insurance 4.200 DO (b) 5 000 00 1 200 00 Supplies 3.00000 (c) 2.25000 750.00 land 98 000.00 98,000 00 Building 500 000 00 500 000 00 Instructions Accumulated Depreciation Building 255,300.00 (d) 9,000.00 264,300 00 Equipment 121,900 00 121 900.00 Accumulated Depreciation Equipment 100 100.00 (e) 4,500.00 104,600.00 15,700.00 15,700.00 Accounts Payable Salaries and Wages Payable (14,900.00 4,900.00 Unearned Rent 2,100.00 (9) 1,300.00 800.00 Sarah Colin Capital 238,100.00 238,100.00 Sarah Colin, Drawing 10,000.00 10,000.00 Fees Earned 388,700.00 (a) 12,500.00 401,200.00 Rent Revenue (9) 1,300.00 1,300.00 Salaries and Wages Expense 163,100.00 (14,900.00 168,000.00 Advertising Expense 21,700.00 21.700.00 Utilities Expense 11,400.00 11.400.00 Depreciation Expense Building (d) 9,000.00 9,000.00 Instructions Repairs Expense 8,850.00 8 850 00 Depreciation Expense-Equipment (e) 4,500.00 4,500.00 (b) 3,000.00 3 000 00 Insurance Expense Supplies Expense (c) 2 250 00 2.250 00 Miscellaneous Expense 4,350 00 4,350 00 1,000,000.00 1,000,000.00 37.450.00 37 450 00 1030,900.00 1,030,900,00 Required: 1. Prepare an income statement for the year ended December 31 Ia 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 owner's 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 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 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 where necessary Instructions Supplies Expense (c) 2.250.00 2.250.00 Miscellaneous Expense 4,350 00 4,350.00 1 000 000 00 1,000,000 00 37,450.00 37.450 00 1030,900.00 1,030,900 00 Required: 1 Prepare an 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 owner's 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 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 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 where necessary 4 Based upon the end of period spreadsheet journalize the closing entries. Explanations should be omitted you are unsure of account titles, see the chart of accounts 5. Prepare a post-closing trial balance Chart of Accounts ASSETS REVENUE 11 Cash 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land EXPENSES 51 Salaries and Wages Expense 52 Advertising Expense 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment 53 Utilities Expense 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense Equipment 57 Insurance Expense 58 Supplies Expense LIABILITIES 21 Accounts Payable a 22 Salaries and Wages Payable 59 Miscellaneous Expense 23 Unearned Rent 15 Land 16 Building 17 Accumulated Depreciation-Building 51 Salaries and Wages Expense 52 Advertising Expense 53 Utilities Expense 18 Equipment 19 Accumulated Depreciation-Equipment 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment 57 Insurance Expense LIABILITIES 21 Accounts Payable 22 Salaries and Wages Payable 23 Unearned Rent 58 Supplies Expense 59 Miscellaneous Expense EQUITY 31 Sarah Colin, Capital 32 Sarah Colin, Drawing Income Statement 1 Prepare an income statement for the year ended December 31 Ianelfoss 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 Beacon Signals Company Income Statement (tabel) Statement of Owner's Equity 2. Prepare a statement of owner's 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 st of Labels and Amount Descriptions for the correct wording of fext items Beacon Signals Company Statement of Owner's Equity (Lobo I 1 2 Balance Sheet 3. Prepare a balance sheet as of December 31 Fored 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 textiems other than account names You will not need to enter colons() or the word "Less on the balance sheet, they will automatically insert where necessary Beacon Signals Company Balance Sheet (Label) 1 Assets ? Label Balance Sheet 16 Liabilities 17 (Label) 18 & 19 20 21 22 Owner's Equity 23 24 Journal 4 Based upon the end of period spreadsheet journalize the closing entries. If you are unsure of account bles, see the chart of accounts TAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. PET DET GET ASSETS LAUTIES EQUITY Closing Entries Post-Closing Trial Balance 5. Prepare a post-closing trial balance. Beacon Signals Company POST-CLOSING TRIAL BALANCE December 31, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation Building 8 Equipment 9. Accumulated Depreciation Equipment Arct Data Post-Closing Trial Balance 1 Cash 2 Accounts Receivable 3. Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation Building 8 Equipment 9 Accumulated Depreciation Equipment 10 Accounts Payable 11 Salaries and Wages Payable 12 Unearned Rent W 13 Sarah Colin, Capital 14 Totals