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Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the end of the fiscal...

Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the end of the fiscal year:

For the Year Ended December 31, 20Y5
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 10,800.00 10,800.00
Accounts Receivable 38,900.00 (a) 9,100.00 48,000.00
Prepaid Insurance 4,200.00 (b) 3,150.00 1,050.00
Supplies 2,730.00 (c) 2,180.00 550.00
Land 98,000.00 98,000.00
Building 400,000.00 400,000.00
Accumulated Depreciation-Building 205,300.00 (d) 12,000.00 217,300.00
Equipment 101,000.00 101,000.00
Accumulated Depreciation-Equipment 85,100.00 (e) 4,800.00 89,900.00
Accounts Payable 15,700.00 15,700.00
Salaries and Wages Payable (f) 5,000.00 5,000.00
Unearned Rent 2,100.00 (g) 1,100.00 1,000.00
Common Stock 75,000.00 75,000.00
Retained Earnings 128,100.00 128,100.00
Dividends 10,000.00 10,000.00
Fees Earned 363,700.00 (a) 9,100.00 372,800.00
Rent Revenue (g) 1,100.00 1,100.00
Salaries and Wages Expense 158,100.00 (f) 5,000.00 163,100.00
Advertising Expense 21,700.00 21,700.00
Utilities Expense 16,400.00 16,400.00
Depreciation Expense-Building (d) 12,000.00 12,000.00
Repairs Expense 8,850.00 8,850.00
Depreciation Expense-Equipment (e) 4,800.00 4,800.00
Insurance Expense (b) 3,150.00 3,150.00
Supplies Expense (c) 2,180.00 2,180.00
Miscellaneous Expense 4,320.00 4,320.00
875,000.00 875,000.00 37,330.00 37,330.00 905,900.00 905,900.00
1. Prepare an income statement for the year ended December 31, 20Y5. 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 text items other than account names. You will not need to enter colons (:) on the income statement.
2. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y5. During the year, common stock of $25,000 was issued. 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.
3. Prepare a balance sheet as of December 31, 20Y5. 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 minus sign.
4. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.
5. Prepare a post-closing trial balance.
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372,800 1,100 373,900 Beacons Company Income Statement For the Year Ended December 31, 2045 Revenues: Fees Earned Rent RevenuBeacons Company Statement of Stockholders Equity For the Year Ended December 31, 2015 Balances, January 1, 2015 Issued commonBeacons Company Balance Sheet December 31, 2045 Assets Current Assets: Cash Accounts Receivable Prepaid Insurance Supplies ToCredit Beacons Company Closing entries Date Account 31-Dec Fees Earned Rent Revenue Retained Earnings Debit $ 372,800 $ 1,100Beacons Company Account Names Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation-Buil

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