Question: please help me with the following problem structions 4. Post-Closing Trial Balance 5. Prepare a post-closing trial balance. Beacons Company POST-CLOSING TRIAL BALANCE December 31,











structions 4. Post-Closing Trial Balance 5. Prepare a post-closing trial balance. Beacons Company POST-CLOSING TRIAL BALANCE December 31, 20Y5 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 9 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Salaries and Wages Payable 13 12 Unearned Rent Income Statement 3 4 5 (Label) 6 7 8 9 10 11 12 13 14 15 16 32 Retained Earnings Required: 1. Prepare an income statement for the year ended December 31, 20Y5. If a net loss has been incurred, enter that amount as a negativo 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 iterns other than account names. You will not need to enter calons ( ) ) on the income statement. 2. Prepare a statement of stockholders' equily for the year ended December 31, 20Y5. During the year, common stock of $20,000 was issued. II a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure fo completo the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Rofor to the Chart of Accounts for exact wording of account titles. 3. Propare a balance sheot as of December 31, 20Y5. Fixed assets must be entered in order according fo account number. Be sure to complefe the statement heading. Fefer to the list of Labels and Amount Descripbions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account tites. For those boxes in which you must enter subtracted or negativo numbers use a minus. Beacons Compary maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-ol-period spreadsheet at December 31,20Ys, the end of the fiscal year: paid, enter that amount as a negafive number using a minus sign. Be sure to complefe the statement heading fiefer to the list of Labels and Amount Descripbons for the exact wanding of the answer choices for text entries. Flefer to the Chart of Accounts for exact warding of account tiles. 4. Basod upan the end of-period spreadsheet, journalize the closing entres. Refer to the Chart of Accounts for exact wanding of account bites. CHART OF ACCOUNTS Beacons Company General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Salaries and Wages Payable 23 Unearned Rent REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Salaries and Wages Expense 52 Advertising Expense 53 Utilities Expense 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense Post-Closing Trial Balance \begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{|c|}{ ACCOUNT TITLE } & CREDIT \\ \hline 1 & Cash \\ \hline 2 & Accounts Receivable \\ \hline 3 & Prepaid Insurance \\ \hline 4 & Supplies \\ \hline 5 & Land \\ \hline 6 & Building \\ \hline 7 & Accumulated Depreciation-Building \\ \hline 8 & Equipment \\ \hline 14 & Accumulated Depreciation-Equipment \\ \hline 10 & Accounts Payable & \\ \hline 11 & Salaries and Wages Payable \\ \hline 12 & Unearned Rent & \\ \hline 13 & Common Stock \\ \hline 14 & Retained Earnings \\ \hline \end{tabular} Labels and Amount Descriptions Laveis Current assets Current liabilities December 31, 20 Y 5 Expenses For the Year Ended December 31, 20 Y5 Property, plant, and equipment Revenues Amount Descriptions Book value-building Book value-equipment Balances, December 31, 20 Y5 Balances, January 1, 20 Y5 Issued common stock Dividends Net income Net loss Total assets Total current assets Total expenses Total liabilities 1. Prepare an income staternent for the year ended December 31,20Y5,I a net loss has been incumed, enter that amount as a negative number using a minus sign. Be sure to complete the statement hoading. Use the list of Labeis and Amount Descriptions for the correct wording of text items other than account names. You will not need to onter colons the income statement
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