holism consulting is a consulting firm owned and operated by scott cutler the end of 541704
Financial statements from the end-of-period spreadsheet
Holism Consulting is a consulting firm owned and operated by Scott Cutler. The end-of period spreadsheet shown below was prepared for the year ended May 31, 2014.
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Holism Consulting End-of-Period Spreadsheet For the Year Ended May 31, 2014 |
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Unadjusted |
Adjusted |
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|
Trial Balance |
Adjusted |
Trial Balance |
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|
Account Title |
Dr. |
Cr. |
Dr. |
Cr. |
Dr. |
Cr. |
|
Cash |
38,000 |
38,000 |
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|
Accounts Receivable |
90,000 |
90,000 |
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|
Supplies |
9,600 |
(a) 6,000 |
3,600 |
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|
Office Equipment |
74,000 |
74,000 |
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|
Accumulated Depreciation |
10,000 |
(b) 4,800 |
14,800 |
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|
Accounts Payable |
24,400 |
24,400 |
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|
Salaries Payable |
(c ) 1,500 |
1,500 |
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|
Capital Stock |
10,000 |
10,000 |
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|
Retained Earnings |
80,400 |
80,400 |
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|
Dividends |
12,000 |
12,000 |
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|
Fees Earned |
175,200 |
175,200 |
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|
Salary Expense |
69,000 |
(c) 1,500 |
70,500 |
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|
Supplies Expense |
(a) 6,000 |
6,000 |
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|
Depreciation Expense |
(b) 4,800 |
4,800 |
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|
Miscellaneous Expense |
7,400 |
7,400 |
||||
|
300,000 |
300,000 |
12,300 |
12,300 |
306,300 |
306,300 |
|
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Holism Consulting.
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