Financial statements from the end-of-period spreadsheet Obj. 1, 2 Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-ofperiod spreadsheet was prepared for the year ended August 31, 20Y9:

Cash Accounts Receivable Supplies Land Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 1

2 3

4 5

6 7

8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr.

Adjusted 182,500 234,500 27,600 775,000 400,000 30,000 829,600 12,500 2,491,700 60,200 41,500 100,000 810,000 1,480,000 2,491,700 13,500 22,600 11,800 47,900 22,600 11,800 13,500 47,900 182,500 234,500 5,000 775,000 400,000 30,000 843,100 22,600 11,800 12,500 2,517,000 72,000 41,500 13,500 100,000 810,000 1,480,000 2,517,000 A B C D E F G Based on the preceding spreadsheet, prepare an income statement, statement of stockholders’

equity, and balance sheet for Demo Consulting. During the year ended August 31, 20Y9, $15,000 of additional common stock was issued.

AppendixLO1