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Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Beacons Company maintains and repairs warning ights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of- period spreadsheet at December 31, 2045, the end of the fiscal year Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 2015 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. CE Dr. De Cr. Cash 10.400 10.400 Accounts Receivable 39.900 2.300 49,2 Prepaid Insurance 3.150 1,350 Supplies 2.750 (c) 2,180 600 Land $8,000 98.000 Check My Work Previous Save and Submit Assignment for Gradin tv MacBook Air SV 73 9 FS $ % 5 A 6 & 7 * 00 2 9 0 T R. Y o P F H j к L

Answer 1

XIA 5 2020-09(2) SEP.xlsx - Microsoft Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER Sign in F26 х fi А F H K L M NA 2 3 Credit Date Dec 31 4 Answer 4 Accounts title Fees earned Rent Revenue Income Summary (To record close revenue accounts) Debit 372,400 1,100 5 6 373,500 7 8 9 9 10 Dec 31 235,280 B с D E Answer 1 Beacons Company Income statement For the Year ended Dec 31, 2015 Fees earned 372,400 Rent Revenue 1,100 Total revenues 373,500 Expenses: Salaries and Wages Expense 162,500 Advertising Expense 31,300 Utilities Expense 5,500 (Not visiable but calculated by Depreciation Expense - Buliding 13,000 balacing adjusting trial balance.) Repairs Expense 8,850 Depreciation Expense - equipment 4,800 Insurance Expense 3,150 Supplies Expense 2,180 Misc. Expense 4,000 Total expenses 235,280 Net income 138,220 11 12 13 14 Income Summary Salaries and Wages Expense Advertising Expense Utilities Expense Depreciation Expense - Buliding Repairs Expense Depreciation Expense - equipment Insurance Expense Supplies Expense Misc. Expense (To record close expense accounts) 162,500 31,300 5,500 13,000 8,850 4,800 3,150 2,180 4,000 15 16 17 18 19 20 21 Dec 31 138,220 22 Income Summary (373500-235280) Retained earnings (To record close income summary) 138,220 23 24 25 Dec 31 Retained earnings 10,000 Answer 2 Beacons Company Statement of stockholder's equity For the Year ended Dec 31, 2015 Total Common Retained stockholder's stock earnings equity Beginning balance (Jan 1.20Y25) (90000-200 70.000 126.430 196.430 Sheet115 Sheet116 Sheet117 Sheet118 Sheet119 Sheet120 Sheet121 CIRCULAR REFERENCES Search the web and Windows 0 26 10,000 Dividends (To record close dividends) 27 Activate Windows Go to Settings to activate Windows. Sheet122 : READY + 100% i ENG IN 10:10 21-09-20

XIA 5 2020-09(2) SEP.xlsx - Microsoft Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER Sign in F46 А B D E F G H 1 K L M NA 22 J Retained earnings (To record close income summary) 138,220 23 Answer 2 Beacons Company Statement of stockholder's equity For the Year ended Dec 31, 2045 24 25 Dec 31 Retained earnings 10,000 Common stock 26 Retained earnings 126,430 10,000 Dividends (To record close dividends) 27 70,000 28 20,000 90,000 Total stockholder's equity 196,430 20,000 216,430 138,220 (10,000) 344,650 Beginning balance (Jan 1, 20Y25) (90000-20 Issued of shares Total Add: net income Less: Dividends Ending balance, Dec 31, 2045 29 30 126,430 138,220 (10,000) 254,650 90,000 31 32 33 34 35 36 37 38 39 40 41 Answer 3 Beacons Company Balance sheet Dec 31, 2015 Assets Current assets Cash Accounts receivable Prepaid Insurance Supplies Total Current assets Property, plant and equipment Land Buildings ... Sheet115 Sheet116 Sheet117 Sheet118 CIRCULAR REFERENCES $ $ $ $ 10,400 49,200 1,350 600 Answer 5 Beacons Company Adjusted trial balance Dec 31, 2045 Account title Debit Credit Cash 10,400 Accounts receivable 49,200 Prepaid Insurance 1,350 Supplies 600 Land 98,000 Buildings 412,000 Accumulated Depreciation-Buildings 218,300 Equipment Activace Windows Accumulated Depreciation-Equipment 89.900 Go to Settings to activate Windows 42 43 $ 61,550 44 45 46 $ 98,000 47 S 412.000 Sheet119 Sheet120 Sheet121 Sheet122 READY 3 + 100% Search the web and Windows O ENG IN 10:10 21-09-20

XIA 5 2020-09(2) SEP.xlsx - Microsoft Excel ? X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER Sign in F39 fi А B D E F H I J K L M NA 39 40 41 $ $ $ $ 10,400 49,200 1,350 600 10,400 49,200 1,350 600 98,000 412,000 42 43 44 $ 61,550 45 Current assets Cash Accounts receivable Prepaid Insurance Supplies Total Current assets Property, plant and equipment Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Total assets 218,300 46 98,000 Cash Accounts receivable Prepaid Insurance Supplies Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained earnings Total 102,000 47 48 193,700 $ 412,000 (218,300) $ 102,000 (89,900) $ $ $ $ $ $ 49 50 12,100 365,350 89,900 15,800 4,000 900 90,000 254,650 673,550 51 52 53 673,550 54 55 $ $ $ 15,800 4,000 56 900 57 58 59 20,700 Liabilities and owner's Equity Current liabilities Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Total Current liabilities Long term liabilities: (if any) Total Liabilities Stockholder's equity Common stock Retained earnings Total Stockholder's equity Total Liab. And stock. Equity $ $ $ 60 20,700 61 62 63 $ $ 90,000 254,650 64 $ $ 344,650 365,350 65 66 Activate Windows Go to Settings to activate Windows. Sheet115 Sheet116 Sheet117 Sheet118 Sheet119 Sheet120 Sheet121 Sheet122 READY CIRCULAR REFERENCES 3 1 + 100% Search the web and Windows O ENG IN 10:10 21-09-20