Pacifica Consulting is a consulting firm owned and operated by Tara Milsap. The end-of- period spreadsheet shown
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Based on the preceding spreadsheet, prepare an income statement, statement of owners equity, and balance sheet for PacificaConsulting.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Pacifica Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2012 Unadjusted Trial Balance Adjusted Trial Balance 6 Account Title Adjustments Dr. I Cr | Dr. | Cr | Dr. | Cr Cash Accounts Receivable 22,500 9,500 9,500 22,500 400 18,500 10 Supplies 11Office Equipment 12 Accumulated Depreciation (a) 2,000 (b) 1,200 (C)300 18,500 2,500 3,700 6,100 300 22,600 13 Accounts Payable 14 Salaries Payable 15 Tara Milsap. Capital 16 Tara Milsap, Drawing 17 Fees Earned 18 Salary Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 22,600 3,000 3,000 43,800 43,800 17,250 (c) 300 2,000 (b) 1.200 17,550 2,000 1,200 75,00075,00035 3,500 76,500 76,500 23
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PACIFICA Consulting Income Statement For the Year Ended August 31 2012 Fees earned 43800 Expens...View the full answer
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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