SULINS LllllUI ALLUunis Laucis Allu AMUUNDESLIPUUNS HLUN G ICIIL Instructions 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: OWN Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Dr. Cr. Account Title Dr. 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 1,200.00 (b) 3,000.00 (c) 2,250.00 Supplies 2.730.00 480.00 Land 98,000.00 95,000.00 Building 400,000.00 400,000.00 Accumulated Depreciation-Building 205,300.00 (d) 10,100.00 215,400.00 Instructions Chart Of Account LADOS and Amount Sponso U S = Instructions UN 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 1)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 Eamnings 128,100.00 128,100.00 Dividends 10,000.00 10,000.00 Fees Eamed 363,700.00 (a) 11,300.00 375,000.00 1,300.00 Rent Revenue (g) 1,300.00 Salaries and Wages Expense 163,100.00 (f) 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 Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions WN 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 Required: 1. Prepare an income statement for the year evided December 31, 2018. Il a nel loss has been incurred, enler hal amount as a negalive number using a minus sign. Be sure to complete the statement hoading. 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 (.) on the income statement 2. Prepare a retained earnings statement for the year ended December 31, 2018. Ja ner loss is incurred or dividends were paid, enter that amount as a negalive number using a minus sign. Be sure to complete the statement Peacing. 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. 3. Prepare a balance sheet as of December 31, 2018. Fixed assets must be entered in order according to account number. 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. Reler to the Chart of Accounts for exact wording of account litics. For thosc boxes in which you must enfor subtracted or negative numbers use a minus sian. Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions SUNUC LANCTISE WWW,Vuw.vv VUU.VN Supplies Expense (c) 2.250.00 2,250.00 GOWN 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 Required: 1. Prepare an income statement for the year ended December 31, 2018. 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 Descriptions for the correct wording of lox! Items other than account names. You will not need to enter colons() on the income statement 2. Prepare a retained earnings statement for the year ended December 31, 2018. If a ner 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. 3. Prepare a balance sheet as of December 31, 2018. Fixed assets must be entered in order according to account number. 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. For those boxes in which you must enter subtracted or negative numbers use a mius sign. 4. Based upon the end-of-period spreadsheet, joumalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles. 5. Prepare a post-closing trial balance. Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Chart of Accounts 0 CHART OF ACCOUNTS Lamp Light Company 5. General Ledger ASSETS 11 Cash REVENUE 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies EXPENSES 15 Land 51 Salaries and Wages Expense 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment 52 Advertising Expense 53 Utilities Expense 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment LIABILITIES 21 Accounts Payable 57 Insurance Expense 58 Supplies Expense Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Chart of Accounts 14 Supplies LARENULO UAWNA 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 51 Salaries and Wages Expense 52 Advertising Expense 53 Utilities Expense 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Salaries and Wages Payable 59 Miscellaneous Expense 23 Unearned Rent EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary Labels and Amount Descriptions Labels Current assets Current liabilities December 31, 2018 Expenses For the Year Ended December 31, 2018 Property, plant, and equipment Revenues Amount Descriptions Book value-building Book value-equipment Change in retained earnings Net income Net loss Retained earnings, December 31, 2018 Retained earnings, January 1, 2018 Total assets Income Statement 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() on the income statement Lamp Light Company Income Statement (Label) 1 (Label) 5 (Label) Income Statement 5 (Label) 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 Retained Earnings Statement (Label) Balance Sheet 3. Prepare a balance sheet as of December 31, 2018. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Refer to the list of be ter beschreven e here 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. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Lamp Light Company Balance Sheet (Label) Assets 2 (Label) (Label) Liabilities (Label) Stockholders' Equity 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles. PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Closing Entries 5. Prepare a post-closing trial balance. Lamp Light Company POST-CLOSING TRIAL BALANCE December 31, 2018 ACCOUNT TITLE DEBIT CREDIT Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building Equipment 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Salaries and Wages Payable 12 Unearned Rent 13 Common Stock 14 Retained Earnings 15 Totals