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.
| Holism Consulting End-of-Period Spreadsheet For the Year Ended May 31, 2014 | ||||||
| Unadjusted | Adjusted | |||||
| Trial Balance | Adjusted | Trial Balance | ||||
| Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. |
| Cash | 38,000 | 38,000 | ||||
| Accounts Receivable | 90,000 | 90,000 | ||||
| Supplies | 9,600 | (a) 6,000 | 3,600 | |||
| Office Equipment | 74,000 | 74,000 | ||||
| Accumulated Depreciation | 10,000 | (b) 4,800 | 14,800 | |||
| Accounts Payable | 24,400 | 24,400 | ||||
| Salaries Payable | (c ) 1,500 | 1,500 | ||||
| Capital Stock | 10,000 | 10,000 | ||||
| Retained Earnings | 80,400 | 80,400 | ||||
| Dividends | 12,000 | 12,000 | ||||
| Fees Earned | 175,200 | 175,200 | ||||
| Salary Expense | 69,000 | (c) 1,500 | 70,500 | |||
| Supplies Expense | (a) 6,000 | 6,000 | ||||
| Depreciation Expense | (b) 4,800 | 4,800 | ||||
| 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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