Out search Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Out search Signals Company prepared the following end-of-period spreadsheet at December 31, 20Y1, the end of the 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 of December 31.

4. Based upon the end-of-period spreadsheet, journalize the closing entries.

5. Prepare a post-closing trial balance.

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A B Outreach Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 20Y1 Unadjusted Trial Balance C 2 3 4. Adjusted 5 6 Account Title Adjustments Dr. Cr. Trial Balance Dr. Cr. Dr. Cr. 7. 20,500 63,800 6,600 4,700 154,300 787,000 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Building 14 Accum. Depr.-Building 15 Equipment 16 Accum. Depr.-Equipment 17 Accounts Payable 18 Salaries and Wages Payable 19 Uneamed Rent 20 Inez Villanueva, Capital 21 Inez Villanueva, Drawing 22 Fees Eamed 23 Rent Revenue 24 Salaries and Wages Expense 25 Advertising Expense 26 Utilities Expense 27 Depr. Exp-Building 28 Repairs Expense 29 Depr. Exp.-Equipment 30 Insurance Expense 31 Supplies Expense 32 Misc. Expense 33 34 20,500 83,500 1,900 1,160 (a) 19,700 (b) 4,700 (c) 3,540 154,300 787,000 402,000 (d)14,200 416,200 192,000 192,000 157,600 24,700 164,700 24,700 7,700 1,300 375,000 (e) 7,100 07,700 3,300 (g) 2,000 375,000 16,000 16,000 |(a)19,700 (9) 2,000 631,700 2,000 612,000 264,520 34,200 17,900 14,200 13,930 7,100 4,700 3,540 6,850 58,940 1.623,300 1.623,300 10 7,700 256,820 34,200 17,900 (d) 14,200 13,930 (e) 7,100 (b) 4,700 3,540 6,850 1,574,600 1,574,600 58,940