Working Company, from Problem 4-2B, prepared an end-of-period spreadsheet (work sheet) at December 31, 2015, the end of the current fiscal year.

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 at December 31.
4. On the basis of the end-of-period spreadsheet (work sheet), journalize the closing entries.
5. Prepare a post-closing trial balance.

Transcribed Image Text:

Working Company End-of-Perlod Spreadsheet (Work Sheet) For the Year Ended December 31, 2015 2 Unadjusterd Trial Balance Adjusted Trial Balance Adjustments Income Statement Balance Sheet 6 Account Title 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Building 12 Acc. Depr-Buildin 13 Land 14 Accounts Payable 15 Uneaned Rent 5,800 18,900 4,200 200,000 5,800 5,800 2,200 1,200 300 3,0001,200 200,000 200,000 87,100 14,600 101.700 98,000 98,000 98,000 2,100 234,320 1,100 234,320 1,100 234,320 1,000 16 Mohammad Amin, Capital 17 Mohammad Amin, Withdrawa 18 Fees Revenue 19 Rent Revenue 20 Advertising Expense 0,000 10,000 10,000 53,700 a) 3,300 (d) 1,000 57,000 1,000 57,000 1,000 41,700 41,700 14,600 3,000 4,320 21,900 400,820 41.700 14 (c) 14,600 (b) 3,000 21 Depreciation Expense 22 Insurance Expense 23 Misc. Expense 4,320 382,920 382.920 4,320 63,620 58,0 24 0,8 7,200 342.820 25 Net loss 26 27 20 2,820 5,620 5,6 2,82