Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Lamp Light prepared the following end-of-period spreadsheet on December 31, 2018, the end of the fiscal year:

Instructions

1. Prepare an income statement for the year ended December 31.

2. Prepare a retained earnings statement for the year ended December 31.

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.

 

Transcribed Image Text:

D Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Balance Adjustments Dr. Cr. Adjusted Trial Balance Dr. 6 Account Title Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Bulding 14 Accum Depr-Building 15 Equipment 16 Accum. Depr-Equipment 17 Accounts Payable 18 Salaries & Wages Payable 19 Unearned Rent 20 Common Stock 21 Retained Eamings 22 Dividends 23 Fees Earned 24 Rent Revenue 25 Salaries & Wages Expense 26 Advertising Expense 27 Utities Expense 28 Depr. Exp-Building 29 Repairs Expense 30 Depr. Exp-Equipment 31 Insurance Expense 32 Supplies Expense 33 Misc. Expense 34 35 10,800 38,900 4,200 2,730 98.000 10,800 50,200 11,300 3,000 2.250 1.200 480 98.000 400,000 400.000 205,300 10,100 215,400 101.000 101,000 85,100 15,700 6,680 91,780 15,700 4,900 800 75,000 128,100 4.900 2,100 75,000 128,100 1,300 10,000 10,000 363,700 11.300 375,000 1,300 1.300 163,100 21,700 11,400 4,900 168,000 21,700 11.400 10,100 10,100 8.850 6,680 3,000 2.250 4.320 39.530 907.980 907.980 8,850 6,680 3,000 2,250 4,320 875.000 875.000 39.530 D Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2018 Unadjusted Trial Balance Adjustments Dr. Cr. Adjusted Trial Balance Dr. 6 Account Title Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Prepaid Insurance 11 Supplies 12 Land 13 Bulding 14 Accum Depr-Building 15 Equipment 16 Accum. Depr-Equipment 17 Accounts Payable 18 Salaries & Wages Payable 19 Unearned Rent 20 Common Stock 21 Retained Eamings 22 Dividends 23 Fees Earned 24 Rent Revenue 25 Salaries & Wages Expense 26 Advertising Expense 27 Utities Expense 28 Depr. Exp-Building 29 Repairs Expense 30 Depr. Exp-Equipment 31 Insurance Expense 32 Supplies Expense 33 Misc. Expense 34 35 10,800 38,900 4,200 2,730 98.000 10,800 50,200 11,300 3,000 2.250 1.200 480 98.000 400,000 400.000 205,300 10,100 215,400 101.000 101,000 85,100 15,700 6,680 91,780 15,700 4,900 800 75,000 128,100 4.900 2,100 75,000 128,100 1,300 10,000 10,000 363,700 11.300 375,000 1,300 1.300 163,100 21,700 11,400 4,900 168,000 21,700 11.400 10,100 10,100 8.850 6,680 3,000 2.250 4.320 39.530 907.980 907.980 8,850 6,680 3,000 2,250 4,320 875.000 875.000 39.530

Answer rating: 100% (QA)

1 Lamp Light Company Income Statement For the Year Ended December 31 2016 Revenues Fees Earned 375000 Rent Revenue 1300 376300 Less Expenses Salaries ... View the full answer