Rectifier Consulting is a consulting firm owned and operated by Adam Beauchamp. The following end-of-period spreadsheet (work sheet) was prepared for the year ended June 30, 2008.

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

Transcribed Image Text:

Rectifier Consulting End-of-Period Spreadsheet (Work Sheet) For the Year Ended June 30, 2008 Unadjusted Trial Balance Adjusted Triai Balance Adjustments Income Statement Balance Sheet Account Title Cr Cr 1 Cash 2 Accounts Receivable 3 Supplies 4 Office Equipment 5 Accumulated Depreciation 8,000 15 500 8,000 15,500 2,500 24,500 (a) 1,850 650 b) 900 C) 400 24,500 ,500 25,200 51750 5400 400 25200 5400 5 3.300 6 400 7 25 200 8 Accounts Payable 7 Salaries Payabie 8 Adam Beauchamp, Capital 9Adam Beauchamp, Drawing2,000 10 Fees Earned 11 Salary Expense 12 Supplies Expense 13 Depreciation Expense 14 Miscellaneous Expense 2,000 2,000 51,750 51750 10 (c) 400 (a) 1,850 b) 900 31,150 1 850 900 30,750 31.150 1850 13 84,750 84,750 3,150 3,150 86,050 8,050 35400 51,750 50,650 34,300 15 650 50,650 17 1.500 16 Net income 17 51,750 51,750