PR 4-1A Financial statements and closing entries . 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: (Continued) cer 4 Completing the Accounting Cycle D 1 Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 2 3. 4 Unadjusted Trial Balance Adjusted Trial Balance Adjustments 6 Account Title Dr. Cr. Dr. Cr. Dr. Cr. 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Building 14 Accum. Depr.-Building 15 Equipment 16 Accum. Depr.-Equipment 17 Accounts Payable 18 Salaries and Wages Payable 19 Unearned Rent 20 Sarah Colin, Capital 21 Sarah Colin, Drawing 22 Fees Earned 23 Rent Revenue 24 Salaries and Wages Expense 25 Advertising Expense 26 Utilities Expens 27 Depr. Exp.-Building 28 Repairs Expense 29 Denr Fyn -Fauinment 13,000 40,500 4,200 3,000 98,000 500,000 13,000 53,000 1,200 (a) 12,500 (b) 3,000 (c) 2,250 750 98,000 500,000 255,300 (d) 9,000 264,300 121,900 121,900 100,100 15,700 |(e) 4,500 104,600 15,700 4,900 800 238,100 () 4,900 2,100 (g) 1,300 238,100 10,000 10,000 388,700 (a)12,500 (g) 1,300 401,200 1,300 163,100 21,700 11,400 (0 4,900 168,000 21,700 11,400 9,000 8,850 (d) 9,000 8,850 1 500

3. Total assets: 5418,950 PR 4-1A Financial statements and closing entries OBJ. 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: General Ledger Excel (Continued) A B C D E F 1 Beacon Signals Company 2 End-of-Period Spreadsheet 3 For the Year Ended December 31, 2019 4 Unadjusted Adjusted 5 Trial Balance Adjustments Trial Balance 6 Account Title Dr. Cr. Dr. 111 Cr. Dr. Cr 7 8 Cash 13,000 13,000 9 Accounts Receivable 40,500 a) 12.500 53,000 10 Prepaid Insurance 4,200 (b) 3.000 1.200 11 Supplies 3,000 (c) 2,250 750 12 Land 98,000 98000 13 Building 500,000 500.000 14 Accum. Depr Building 255.300 (d) 9.000 284.300 15 Equipment 121,900 121900 16 Accum. Depr -Equipment 100,100 (0) 4.500 104,800 17 Accounts Payable 15,700 15,700 18 Salaries and Wages Payable (4.900 4.900 19 Uneamed Rent 2,100 ) 1,300 800 20 Sarah Colin Capital 238,100 238 100 21 Sarah Colin, Drawing 10,000 10,000 22 Fees Eamed 388,700 (a) 12500 401,200 23 Rent Revenue (9) 1,300 24 Salaries and Wages Expense 163,100 168,000 25 Advertising Expense 21,700 21.700 26 Utilises Expense 11.400 11.400 27 Depe. Exp-Buliding Id) 9.000 9,000 28 Repairs Expense 8,850 8,850 29 Depr. Exp Equipment (0) 4500 4.500 30 Insurance Esponse D) 3,000 3,000 31 Supplies Expense 10 2.250 2 250 32 Misc. Exponse 4.350 4.350 33 1,000,000 1,000,000 37450 374501030.000 100.000 34 1300 Show How Instructions 1. Prepare an income statement for the year ended December 31 2. Prepare a statement of owner's equity for the year ended December 31. No additional Investments were made during the year. 3. Prepare a balance sheet as of December 31. 4. Based upon the end-of-period spreadsheet, journalize the closing entries. 5. Prepuce post-closing trial balance 11 stk) will appear to the right of an incorrect entry 12 oruc grading in the trial balance, onterror in cells you would otherwise loave blank 13 14 15 BEACON SIGNALS COMPANY 16 Income Statement 17 For the Year Ended December 31, 2010 18 19 Revenues 20 Fees revenge $.401,200 21 Rent revenue 1.300 22 Total revenues 23 Expenses Salam and weges expense Advertising expense Us expense Repairs expense Depreciation expense equipment Insurance expense $ 402.500 Total expenses Net income BEACON SIGNALS COMPANY Statement of Owner's Equity For the Year Ended December 21, 2019 Sarah Colin capital, January 1, 2010 Sarah Colin, capital, December 31, 2019 BEACON SIGNALS COMPANY Balance Sheet December 31, 2019 Assets Cumuntant Totalcumentats Property, plant, and equipment: 05 02 ULIN Total property, puant and equipment Total 60 Current Babies 55 TO 71 72 73 Total Owned Pr. 4-1A Ready Total labies Owner's Equity 72 73 74 25 76 77 Total abities and owner's equity JOURNAL Date Debiet Credit 2019 Description Closing Entries 78 70 30 81 82 83 84 85 Dec. 31 87 38 30 Minoetaneous Expense Sarah Coin, Capital 31 BEACON SIGNALS COMPANY Post Closing Trial Balance December 31, 2019 Det Credit 100 Accounts Receivable Prepaid insurance Land And Depreciation Building En A Depreciation Equipment Wages Payable med at PE-1