Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Statement of Stock 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, 2045, the end of the fiscal year Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 2015 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Tite DI Dr. Cr. De Cash 10,500 10,500 Accounts Receivable 39,500 (a) 9,100 48,600 Prepaid Insurance 4,200 (D) 3,350 (c) 2,180 350 610 Supplies 2.790 Land 98,000 98,000 Building 416,000 416,000 Accumulated Depreciation Building 205,300 (d) 14,000 219,300 Equipment 107,000 107.000 Accumulated Depreciation Equipment 85,100 (e) 4.200 89,300 Accounts Payable 15,800 15,800 Salaries and Wages Payable (1) 5,000 5,000 1,000 Unearned Rent 2,300 (g) 1,300 ructions (e) 4,200 85,100 Accumulated Depreciation-Equipment 89,300 15,800 15,800 Accounts Payable Salaries and Wages Payable 5.000 (1) 5,000 2,300 Uneared Rent 1,000 (m) 1,300 Common Stock 70,000 70,000 Retained Earnings 155,040 Dividends 10.000 0 55 000000 Fees Earned 363,000 (a) 9 100 Rent Revenue Salaries and Wages Expense Eynense Advertising Expense 159,000 164. 21.400 21,400 Utilities Expense 1 5,000 15,000 Depreciation Expense-Building (d) 14,000 14,000 Repairs Expense 8,850 8,850 Depreciation Expense-Equipment 4,200 Insurance Expense (e) 4,200 (b) 3,350 (c) 2,180 3,350 Supplies Expense 2,180 Miscellaneous Expense 4,300 4,300 896,540 896,540 39,130 39,130 928,840 928,840 Required: 1. Prepare an income statement for the year ended December 31, 2045. If a net loss has been incurred enter that amount as a negatve 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 Prepare a statement of stockholders' equity for the year ended December 31, 2045. During the year, common stock of 530,000 was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the ansiver choices for Text entries Refer to the Chart of Accounts for exact wording of accountities 3. Prepare a balance sheet as of December 31, 20Y5. Fored assets must be entered in order according to account number Be sure to complete the statement 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 exact wording of account bites For those boxes in which you must enter subtracted or negative numbers use a minus sign 4. Based upon the end-of-period spreadsheet, journalize the closing entries Refer to the Chart of Accounts for exact wording of account titles 5. Prepare a post-closing trial balance. Labels and Amount Descriptions Labels Current assets Current liabilities December 31, 2015 Expenses For the Year Ended December 31, 2045 Property, plant, and equipment Revenues Amount Descriptions Book value-building Book value-equipment Balances, December 31, 2015 Balances, January 1, 2045 Issued common stock Dividends Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total revenues Total stockholders' equity H O1 Account Labels and Amount Descriptions Income Statem ncome Statement Beacons Company Score: 0/132 Income Statement (Label) Statement of Stockholders' Equity Shaded cells have feedback 2. Prepare a statement of stockholders' equity for the year ended December 31, 2015. During the year, common stock of $30,000 was issued if a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement 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 exact wording of account titles Question not attempted. Score: 0/80 Beacons Company Statement of Stockholders' Equity (Label) Common Stock Retained Earnings Total Points: 0/18 Feed lance Sheet uestion not attempted. Score: 0/198 Beacons Company Balance Sheet Label) Liabilities eBook Show Me How Calculator Balance Sheet Liabilities 19 Label Stockholders' Equity Feedback Check My Work The balance sheet includes all accounts that would be transferred to the balance sheet columns on the worksheet, except for the dividends balances. The statement of stockholders' equity. Make sure that the accounting equation remains in balance for this financial statement Shaded cel arouna 4 Based upon the end of period spreadsheet journalize the closing entries. Refer to the Chart of Accounts for exact wording of account thes Question not attempted. JOURNAL Score: 0/171 ACCOUNTING EQUATION DESCRIPTION CREDIT ASSETS LIABILITIES Closing Entries Chock My Work All work saved Required: 1. Prepare an income statement for the year ended December 31, 2045. 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 Prepare a statement of stockholders' equity for the year ended December 31, 2045. During the year, common stock of 530,000 was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the ansiver choices for text entries. Refer to the Chart of Accounts for exact wording of account titles 3. Prepare a balance sheet as of December 31, 20Y5. Fored assets must be entered in order according to account number Be sure to complete the statement 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 exact wording of account titles For those boxes in which you must enter subtracted or negative numbers use a minus sign 4. Based upon the end-of-period spreadsheet, journalize the closing entries Refer to the Chart of Accounts for exact wording of account titles 5. Prepare a post-closing trial balance