Aardvark Consulting is a consulting firm owned and operated by Jan Sullivan. The following end-of-period spreadsheet (work sheet) was prepared for the year ended November 30, 2010.

Based upon the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Aardvark Consulting.

Transcribed Image Text:

Aardvark Consulting End-of-Period Spreadsheet (Work Sheet) For the Year Ended November 30, 2010 Adjusted Trial Balance Unadjusted Trial Balance Dr. Income Statement Dr. Cr. Balance Sheet Cr. Adjustments Dr. Account Title Cr. Cr. Dr. Cr. Dr. 7,500 18,500 750 30,500 7,500 18,500 750 30,500 7,500 18,500 3,000 30,500 Cash Accounts Receivable Supplies Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Jan Sullivan, Capital Jan Sullivan, Drawing Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense (a) 2250 4,500 3,300 5,400 3,300 400 27,200 (b) 900 5,400 3,300 400 27 200 (c) 400 27,200 2,000 2,000 2,000 60,000 [c) 400 (a) 2,250 900 60,000 60,000 32,000 32,400 2,250 900 1.500 37,050 22,950 60.000 32,400 2,250 (b) 900 1,500 96 300 1,500 95.000 95 000 3.550 3.550 96.300 60,000 59,250 36,300 22,950 59.250 Net income 60,000 59,250