Maurice Tutor

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Category > Accounting Posted 20 Aug 2017 My Price 13.00

Jayson Neese

Financial statements from the end-of-period spreadsheet                                                         ObJ. 1, 2 Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The fol- lowing end-of-period spreadsheet was prepared for the year ended June 30, 2016:

 

 
 

 

A

B

C

D

E

F

G

1

 

Elliptical C

onsulting

2

 

End-of-Period Spreadsheet

3

 

For the

Year Ended June 30, 2016

4

 

Unadjusted

 

 

Adju

sted

5

 

Trial Balance

Adjust

ments

Trial B

alance

6

Account Title

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.

7

 

 

 

 

 

 

 

8

Cash

27,000

 

 

 

27,000

 

9

Accounts Receivable

53,500

 

 

 

53,500

 

10

Supplies

3,000

 

 

(a)  2,100

900

 

11

Office Equipment

30,500

 

 

 

30,500

 

12

Accumulated Depreciation

 

4,500

 

(b)  1,500

 

6,000

13

Accounts Payable

 

3,300

 

 

 

3,300

14

Salaries Payable

 

 

 

(c)     375

 

375

15

Common Stock

 

30,000

 

 

 

30,000

16

Retained Earnings

 

52,200

 

 

 

52,200

17

Dividends

2,000

 

 

 

2,000

 

18

Fees Earned

 

60,000

 

 

 

60,000

19

Salary Expense

32,000

 

(c)     375

 

32,375

 

20

Supplies Expense

 

 

(a)  2,100

 

2,100

 

21

Depreciation Expense

 

 

(b)  1,500

 

1,500

 

22

Miscellaneous Expense

    2,000

           

        

        

    2,000

            

23

 

150,000

150,000

3,975

3,975

151,875

151,875

 

 

 

 

 

 

 

 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Elliptical   Consulting.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 10:08 AM My Price 13.00

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