Question
Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019:
Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,110 9,110 Accounts Receivable 21,700 21,700 Supplies 2,300 (a) 1,930 370 Office Equipment 17,360 17,360 Accumulated Depreciation Accounts Payable 2,410 5,860 (b) 1,150 3,560 5,860 Salaries Payable (c) 280 280 Lisa Gooch, Capital 22,130 22,130 Lisa Gooch, Drawing 2,820 2,820 Fees Earned 41,120 41,120 Salary Expense 16,490 (c) 280 16,770 Supplies Expense (a) 1,930 1,930 Depreciation Expense (b) 1,150 1,150 Miscellaneous Expense 1,740 1,740 71,520 71,520 3,360 3,360 72,950 72,950 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2019 Fees earned Expenses: Salary expense Total expenses 41,120 Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting. Bamboo Consulting Statement of Owner's Equity For the Year Ended July 31, 2019 Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Current assets: Balance Sheet July 31, 2019 Assets Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Current liabilities: Liabilities Total liabilities Owner's Equity Total liabilities and owner's equity Q O
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