Instructions Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end- of-period spreadsheet at December 31, 20Y5, the end of the fiscal year: Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 20Y5 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,400 10,400 Accounts Receivable 39,900 (a) 9,300 49,200 Prepaid Insurance 4,500 (b) 3,150 1,350 Supplies 2,780 (c) 2,180 600 Land 98,000 Building 412,000 98,000 412,000 Accumulated Depreciation-Building 205,300 (d) 13,000 218,300 Equipment 102,000 102,000 Accumulated Depreciation-Equipment Accounts Payable 85,100 (e) 4,800 89,900 15,800 15,800 Salaries and Wages Payable (f) 4,000 4,000 Unearned Rent 2,000 (g) 1,100 900 Common Stock 90,000 90,000 Retained Earnings 126,430 126,430 Dividends 10,000 10,000 Fees Earned 363,100 (a) 9,300 372,400 Rent Revenue (g) 1,100 1,100 Salaries and Wages Expense 158,500 (f) 4,000 162,500 Advertising Expense 21,300 21,300 Utilities Expense 15,500 15,500 Rent Revenue (g) 1,100 1,100 Salaries and Wages Expense 158,500 (f) 4,000 162,500 Advertising Expense 21,300 21,300 Utilities Expense 15,500 15,500 Depreciation Expense-Building (d) 13,000 13,000 Repairs Expense 8,850 8,850 Depreciation Expense-Equipment (e) 4,800 4,800 Insurance Expense (b) 3,150 3,150 Supplies Expense (c) 2,180 2,180 Miscellaneous Expense 4,000 4,000 887,730 887,730 37,530 37,530 918,830 918,830 Required: 1. Prepare an income statement for the year ended December 31, 20Y5. If a net loss has been incurred, enter that amount as a nega using a minus sign Be sure to complete the statement heading Use the list of Labels and Amount Descriptions for the correct wo Income Statement 1. Prepare an income statement for the year ended December 31, 2015. 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. 1 (Label) 2 3 4 Beacons Company Income Statement (Label) X Income Statement 5 (Label) 6 7 8 9 10 11 12 13 14 15 16 Balance Sheet 3. Prepare a balance sheet as of December 31, 2015. Fixed assets must be entered in order according to account number. Be sure to complete the statemer 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 ex wording of account titles. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 1 Assets 2 (Label) Beacons Company Balance Sheet (Label) Journal 1 2 3 4 5 6 7 8 9 10 11 12 17 DATE DESCRIPTION Closing Entries JOURNAL ACCOUNTING EQUATI POST. REF. DEBIT CREDIT ASSETS LIABILITIES Balance Sheet 3 4 5 6 7 8 (Label) 9 10 11 12 13 Balance Sheet 9 10 11 12 13 14 14 15 15 16 16 17 18 10 Liabilities Post-Closing Trial Balance 5. Prepare a post-closing trial balance. 1 Cash 2 Accounts Receivable 3 Prepaid Insurance Beacons Company POST-CLOSING TRIAL BALANCE December 31, 20Y5 ACCOUNT TITLE 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building DEBIT CREDIT Post-Closing Trial Balance Z ACCOUTILS 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 13 Common Stock 14 Retained Earnings 15 Totals