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need help the income statement has 16 rows statement of owners equity has 5 rows balance sheet has 24 rows journal has 15 rows Instructions
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Instructions Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses Beacon Signals Company prepared the following en 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 Dr CE Dr CA Account Title De CH Cash 13,000.00 13,000.00 Accounts Receivable 40,500.00 (a) 12,500.00 53 000 00 4200 00 Prepaid Insurance 1,200.00 (b) 3.000.00 3,000.00 (c) 2 25000 750 00 Supphes Land 90,000.00 98,000.00 Instructions Building 500,000 00 500,000.00 Accumulated Depreciation Building 255,300.00 (d) 9,000.00 264 300.00 Equipment 121,900.00 121,900.00 Accumulated Depreciation Equipment (e) 4,500.00 104,600.00 100,100.00 15.700.00 15,700.00 Accounts Payable Salaries and Wages Payable (1) 4 900.00 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 Eamed 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 (04,000.00 168 000.00 Advertising Expense 21,700 00 21 700 00 Instructions Advertising Expense 21,700.00 21,700.00 Utilities Expense 11,400.00 11,400.00 (d) 9,000.00 9,000.00 Depreciation Expense Building Repairs Expense 8,850.00 8,850.00 Depreciation Expense-Equipment (e) 4,500.00 4,500.00 Insurance Expense (b) 3,000.00 3,000 00 (c) 2.250.00 2,250 00 Supplies Expense 4,350 00 4,350 00 Miscellaneous Expense 1,000,000.00 1,000,000.00 37.450 00 37.450.00 1,030,000.00 1,030,900.00 Required: 1 Prepare an income statement for the year ended December 31 If a ner loss has been incurred, enter that amount as a negative number using a minus sign Be sure to complete the statement heading Use the stof Labels and Amount Descnphons 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 owner's equity for the year ended December 31 No additional investments were made during the year For those boxes Instructions Miscellaneous Expense 4 350 00 4,350.00 1,000,000.00 1,000,000.00 37 450.00 37,450.00 1,030,900 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 Descnptions for the correct wording of text items other than account names. You will not need to enter colons() on the mome 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 sert where necessary 4 Based upon the end-of-penod 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 Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Income Statement 1 Prepare an income statement for the year ended December 31 Ifa net loss has been incurred enter that amount as a negative numbers.ng a minus sign Be sure to complete the statement heading Use the list of Labels ond Amount Descriptions for the correct wording of text des other than account names. You will not need to enter coons () on the income statement Beacon Signals Company Income Statement (Label) 1) Statement of Owner's Equity 2. Prepare a statement of owner's equity for me year ended December 31 No additional investments were made during the year for those bores in which you must enter subtracted or negative numbers use a minus sign Be sure to complete the statement heading Use the last of Labels and Amount Descriptions for the correct wording of text items Beacon Signals Company Statement of Owners Equity Label Balance Sheet 3. Prepare a balance sheet as of December 31 Fired 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 toms other than account names You will not need to enter colons() or the word "ess on the balance sheet they will automatically Insert where necessary Beacon Signals Company Balance Sheet (Lisbol 11 Assets 2 Libel Journal 4 Based upon the end-of-period spreadsheet journalize the closing entries. If you are unsure of account bites, see the chart of accounts PAGE 11 JOURNAL ACCOUNTING EQUATION POST. RET CREDIT DERIT ASSETS LABLES DATE EQUITY DESCRIPTION Coring Erties 3 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 10 Accounts Payable 11 Salaries and Wages Payable Ismed Dan Post-Closing Trial Balance 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 13 Sarah Colin, Capital 14 Totals the income statement has 16 rows
statement of owners equity has 5 rows
balance sheet has 24 rows
journal has 15 rows
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