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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, 2045:
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, 2045: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2045 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Dr. Cr. Cash 58,500 58,500 Accounts Receivable 108.000 108,000 Supplies 12,500 (a) 6,500 6,000 Office Equipment 507.000 507.000 Accumulated Depreciation 25.500 (b) 5.500 31,000 Accounts Payable 20,000 20.000 Salaries Payable (c) 2,800 2,800 Lisa Gooch, Capital 509,000 509,000 Lisa Gooch, Drawing 27.000 27,000 Fees Earned 353,800 353.800 Salary Expense 188,500 (c) 2,800 189.300 Supplies Expense (a) 6,500 6,500 Depreciation Expense (b) 5.500 5.500 Miscellaneous Expense 10.800 10.800 908,300 908,300 14,800 14,800 916.000 916.600 Based on the preceding spreadsheet prepare an income statement, statement of owner's equity, and balance sheet for Bamboo Consuiting. Be sure to read the instructions for each financial statement carefully. Labels Current assets Current liabilities Expenses For the Year Ended July 31, 2045 July 31, 2015 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Lisa Gooch, capital Lisa Gooch, capital, August 1, 2074 Lisa Gooch, capital, July 31, 2045 Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Total revenues Withdrawals Prepare an income statement for the year ended July 31, 2045 for Bamboo Consulting. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon) will automatically appear if it is required. Bamboo Consulting Income Statement (Label) 1 2 (Label) 3 4 S 6 Prepare a statement of owner's equity for the year ended July 31, 2045 for Bamboo Consulting. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions for the exact wording of text entries. If a net loss is incurred or there is a decrease in owner's equity, enter that amount as a negative number using a minus sign. Bamboo Consulting Statement of Owner's Equity (Label) 1 2 3 4 S Prepare a balance sheet as of July 31, 2045 for Bamboo Consulting. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. You will not need to enter colons (') or the word "Less" on the balance sheet: they will automatically insert where necessary. Enter all amounts as positive numbers. Bamboo Consulting Balance Sheet (Label) Assets (Label) 3 S (Label) 9 10 11 12 Liabilities 13 (Label) 14 15 16 17 Owner's Equity 19 19
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