olympia consulting is a consulting firm owned and operated by raul hann the followin 541705
Financial statements from the end-of-period spreadsheet
Olympia Consulting is a consulting firm owned and operated by Raul Hann. The following end-of-period spreadsheet was prepared for the year ended April 30, 2014.
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Olympia Consulting End-of-Period Spreadsheet For the Year Ended April 30, 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 |
27,500 |
27,500 |
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Accounts Receivable |
53,500 |
53,500 |
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|
Supplies |
3,000 |
(a) 1,800 |
1,200 |
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|
Office Equipment |
30,500 |
30,500 |
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Accumulated Depreciation |
4,500 |
(b) 750 |
5,250 |
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Accounts Payable |
3,300 |
3,300 |
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Salaries Payable |
(c ) 450 |
450 |
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Capital Stock |
30,000 |
30,000 |
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Retained Earnings |
52,200 |
52,200 |
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Dividends |
2,000 |
2,000 |
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Fees Earned |
60,000 |
60,000 |
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Salary Expense |
32,000 |
32,450 |
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|
Supplies Expense |
1,800 |
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Depreciation Expense |
750 |
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|
Miscellaneous Expense |
1,500 |
1,500 |
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|
150,000 |
150,000 |
3,000 |
3,000 |
151,200 |
151,200 |
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Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Olympia Consulting.
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