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.
| Olympia Consulting End-of-Period Spreadsheet For the Year Ended April 30, 2014 | ||||||
| Unadjusted | Adjusted | |||||
| Trial Balance | Adjusted | Trial Balance | ||||
| Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. |
| Cash | 27,500 | 27,500 | ||||
| Accounts Receivable | 53,500 | 53,500 | ||||
| Supplies | 3,000 | (a) 1,800 | 1,200 | |||
| Office Equipment | 30,500 | 30,500 | ||||
| Accumulated Depreciation | 4,500 | (b) 750 | 5,250 | |||
| Accounts Payable | 3,300 | 3,300 | ||||
| Salaries Payable | (c ) 450 | 450 | ||||
| Capital Stock | 30,000 | 30,000 | ||||
| Retained Earnings | 52,200 | 52,200 | ||||
| Dividends | 2,000 | 2,000 | ||||
| Fees Earned | 60,000 | 60,000 | ||||
| Salary Expense | 32,000 | 32,450 | ||||
| Supplies Expense | 1,800 | |||||
| Depreciation Expense | 750 | |||||
| Miscellaneous Expense | 1,500 | 1,500 | ||||
| 150,000 | 150,000 | 3,000 | 3,000 | 151,200 | 151,200 | |
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Olympia Consulting.
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