Outreach Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Outreach Signals Company prepared the following end-of-period spreadsheet at December 31, 20Y1, the end of the fiscal year:

Required:

1.

Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement.

2.

Prepare a statement of owners equity for the year ended December 31. No additional investments were made during the year. 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. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

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. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all values as positive amounts.

4.

Based upon the end-of-period spreadsheet, journalize the closing entries. Explanations should be omitted. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

5.

Prepare a post-closing trial balance.

CHART OF ACCOUNTS

Outreach Signals Company

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Prepaid Insurance
14	Supplies
15	Land
16	Building
17	Accumulated Depreciation-Building
18	Equipment
19	Accumulated Depreciation-Equipment

	LIABILITIES
21	Accounts Payable
22	Salaries and Wages Payable
23	Unearned Rent

	EQUITY
31	Inez Villanueva, Capital
32	Inez Villanueva, Drawing

REVENUE

41

Fees Earned

42

Rent Revenue

Labels
Current assets
Current liabilities
December 31, 20Y1
Expenses
For the Year Ended December 31, 20Y1
Property, plant, and equipment
Revenues
Amount Descriptions
Decrease in owners equity
Increase in owners equity
Net income
Net loss
Inez Villanueva, capital, January 1, 20Y1
Inez Villanueva, capital, December 31, 20Y1
Total assets
Total current assets
Total expenses
Total liabilities
Total liabilities and owners equity
Total property, plant, and equipment
Total revenues
Withdrawals

1. Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement.

2. Prepare a statement of owners equity for the year ended December 31, 20Y5. Be sure to complete the statement heading. Refer to the information given and the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity.

sorry for so many question im just working 40+ this week any way i can get some help this is only for guidance purpose !!!

Outreach Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2014 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Dr. C Dr. Cr. Account Title De CE 20.500 20.500 Cash Accounts Receivable 63,800 (a) 19,700 83,500 Prepaid Insurance 6,600 (b) 4,700 1.900 Supplies 4.700 (C)3.540 1.160 Land 154,300 154,300 Building 787,000 787.000 Accumulated Depreciation Building 402,000 (0) 14,200 416.200 192.000 192.000 157,600 (e) 7.100 164.700 24.700 24,700 1) 7.700 7.700 3.300 (9) 2.000 1.300 375,000 375,000 16,000 16.000 612.000 (a) 19.700 631,700 (9) 2,000 2.000 Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Uneamed Rent Inez Villanueva, Capital Inez Vilanueva. Drawing Fors Eamed Rent Revenue Salaries and Wages Expense Advertising Expense Utilities Expense Depreciation Expense-fulding Repairs Expense Depreciation Expense-Equipment Insurance Expense Supplies Expense Miscellaneous Expense 256,820 1) 7,700 254.520 34.200 34.200 17.900 17.900 (d) 14,200 14.200 13.930 13.930 (e) 7.100 7.100 (b) 4.700 4.700 c) 3.540 3.540 6.850 6.850 1.574.600 1.574,600 58.940 58.940 1.623.300 1.623.300 Income Statement 1. Prepare an income statement for the year ended December 31. Be sure to complete the heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for wording of the answer choices for text entries. Enter amounts as positive numbers unless th calculation that results in a negative amount. For example: Net loss should be negative. Exp be positive. You will not need to enter colons() on the income statement Outreach Signals Company Income Statement (Labell 1 (Label) 2 3 4 (Label) 6 7 5 9 10 11 12 13 14 15 16 Amount Descriptions provided for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity. Excalibur Travel Agency Statement of Owner's Equity (Label 1 2 Balance Sheet 3. Prepare a balance sheet as of December 31, 2045. Be sure to complete the statement heading. Refer to the lists of Accounts. Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. When entering assets, enter them in order of liquidity. Excalibur Travel Agency Balance Sheet Label Assets 2 5 4 5 6 Liabilities 8 Owner's equity 10 11 4. What item appears on both the statement of owner's equity and the balance sheet