Beacon Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Company prepared the end-of-period spreadsheet shown on below at October 31, 2012, the end of the current fiscal year:

Instructions
1. Prepare an income statement for the year ended October 31.
2. Prepare a statement of owner's equity for the year ended October 31. No additional investments were made during the year.
3. Prepare a balance sheet as of October 31.
4. Based upon the end-of-period spreadsheet, journalize the closing entries.
5. Prepare a post-closing trialbalance.

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Beacon Company End-of-Period Spreadsheet For the Year Ended October 31, 2012 Unadjusterd Trial Balance Dr. 5,800 Adjusted Trial Balance Dr. Adjustments Dr. 6 Account Title Cr. 5,800 22,200 2,500T,700 (c1730 1000 8 Accounts Receivable a) 3,300 4,200 2,730 id insurance 10 Suppies 11 Land 12 Building 13 Accum. Depr-Building 98,000 200,000 200,000 100,300 (d) 1,600 (e) 3,200 (0) 1,800 01,900 101,000 101,000 quipment 15 Accum. Depr. Equipment 16 Accounts Pa 85,100 5,7 88,300 5,700 1,800 17 Salaries &Wages Payable Uneamed Rent 2,100 (g) 1,000 19 Neil Shegard, Capita10,000 03,100 103,100 Neil Shepard, Drawin 21 Fees Revenue 22 Rent Revenue 23 Salaries & 24 Advertising Expense 25 Utilities Expense 26 20 10,000 (a) 3,300 gT000 303,700 307,000 1,000 Wages Expense113,100 21,700 11,400 8,850 1,800 114,900 21,700 11,400 8,850 27 Depr. Exp Equipment 28 Insurance Expense 3,200 1,730 1,730 1,600 0 Depr. ExpBiig 31 Misc Expense 32 4,320 600,000 600,000 15,130 15,1306 02,900609.900