Beacon Company maintains and repairs warnings lights, such as those found on radio towers and lighthouses. Beacon Company prepared the end-of-period spreadsheet shown on the next page 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 retained earnings statement for the year ended October 31.
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.
