Instructions X 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, 2018, the end of the fiscal year. Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,800.00 10,800.00 Accounts Receivable 38,900.00 (a) 11,300.00 50,200.00 Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00 Supplies 2,730.00 (c) 2,250.00 480.00 Land 98,000.00 98,000.00 Buildina 400 000.00 400 000 00 Instructions x Building 400,000.00 400,000.00 Accumulated Depreciation-Building 205,300.00 (d) 10,100.00 215,400.00 Equipment 101,000.00 101,000.00 Accumulated Depreciation-Equipment 85,100.00 (e) 6,680.00 91,780.00 Accounts Payable 15,700.00 15,700.00 Salaries and Wages Payable (f) 4,900.00 4,900.00 Unearned Rent 2,100.00 (9) 1,300.00 800.00 Common Stock 75,000.00 75,000.00 Retained Earnings 128,100.00 128,100.00 Dividends 10,000.00 10,000.00 Fees Earned 363,700.00 (a) 11,300.00 375,000.00 Rent Revenue (g) 1,300.00 1,300.00 Salaries and Wages Expense 163,100.00 (1) 4,900.00 168,000.00 Instructions X Salaries and Wages Expense 163,100.00 (1) 4,900.00 168,000.00 Advertising Expense 21,700.00 21,700.00 Utilities Expense 11,400.00 11,400.00 Depreciation Expense-Building (d) 10,100.00 10,100.00 Repairs Expense 8,850.00 8,850.00 Depreciation Expense-Equipment (e) 6,680.00 6,680.00 Insurance Expense (b) 3,000.00 3,000.00 Supplies Expense (c) 2,250.00 2,250.00 Miscellaneous Expense 4,320.00 4,320.00 875,000.00 875,000.00 39,530.00 39,530.00 907,980.00 907,980.00 Retained Earnings Statement Shaded cells have feedback. 2. Prepare a retained earnings statement for the year ended December 31, 2018. 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. Lamp Light Company Score: 39/52 Retained Earnings Statement For the Year Ended December 31, 2018 1 Retained earnings, January 1, 2018 $128,100.00 2 Net income $140,000.00 3 Dividends (10.000.00) 4 5 Retained earings, December 31, 2018 $258,100.00 Points: 8.25 / 11 Lamp Light Company Score: 182/205 Balance Sheet December 31, 2018 1 Assets 2 Current assets: 3 Cash $10,800.00 4 Accounts receivable 50.200.00 5 Prepaid insurance 1,200.00 6 Supplies 480.00 7 Total current assets $62,680.00 8 Property, plant, and equipment: 9 Land $98,000.00 10 Building $400,000.00 11 Accumulated depreciation-building (215,400.00) 12 13 Equipment $101,000.00 14 Accumulated depreciation-equipment (91,780.00) 14 Accumulated depreciation equipment (91,780.00) 15 16 Total property, plant, and equipment 291,820.00 17 Total assets $354,500.00 18 Liabilities 19 Current liabilities: 20 Accounts payable $15,700.00 21 Salaries and wages payable 4,900.00 22 Unearned rent 800.00 23 Total Liabilities $21,400.00 24 Stockholders' Equity 25 Common Stock $75,000.00 26 Retained earnings 258,100.00 27 Total stockholders' equity 333,100.00 28 Total Liabilities and stockholders' equity $354,500.00 Points 42.61 / 48 JOURNAL Score: 180/209 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Closing Entries 2 Dec 31 Fees Earned 375,000.00 1 3 Rent Revenue 1,300.00 1 4 Income Summary 376,300.00 1 5 Dec 31 Income Summary 236,300.00 1 6 Salaries and Wages Expense 168,000.00 7 Advertising Expense 21,700.00 8 8 Utilities Expense 11,400.00 1 9 Depreciation Expense-Building 10,100.00 10 Repairs Expense 8,850.00 1 11 Depreciation Expense-Equipment 6,680.00 12 Insurance Expense 3,000.00 13 Sunnlies Fynense 2.250.00 + 7 Advertising Expense 21,700.00 8 Utilities Expense 11,400.00 9 Depreciation Expense-Building 10,100.00 10 Repairs Expense 8.850.00 11 Depreciation Expense-Equipment 6,680.00 12 Insurance Expense 3,000.00 1 13 Supplies Expense 2.250.00 14 Miscellaneous Expense 4,320.00 15 16 Dec. 31 Income Summary 140,000.00 + 17 Retained Earnings 140,000.00 18 Points 32.73/38