PR $4-1$A Financial statements and closing entries

O$.1,2,3$

Beacon Signals Company maintains and repairs warning lights, such as those found on

radio towers and lighthouses. Beacon Signals Company prepared the following end$-$of$-$

period spreadsheet at December $31,2019,$ the end of the fiscal year:

Completing the Accounting Cycle

Instructions

Prepare an income statement for the year ended December $31.$

Prepare a statement of owner's equity for the year ended December $31.$ No additionat

investments were made$-$during the year. $$30,000$ addifonal $($a pital Inve stment

Prepare a balance sheet as of December $31.$

Based upon the end$-$of$-$period spreadsheet, journalize the closing entries.

Prepare a post$-$closing trial balance.

$230,000$ additional capital investment made