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 Trial Balance		Adjustments		Adjusted Trial Balance
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	58,000				58,000
Accounts Receivable	106,200				106,200
Supplies	11,900			(a) 7,500	4,400
Office Equipment	515,000				515,000
Accumulated Depreciation		28,000		(b) 5,600		33,600
Accounts Payable		20,500				20,500
Salaries Payable				(c) 2,500		2,500
Lisa Gooch, Capital		516,700				516,700
Lisa Gooch, Drawing	25,000				25,000
Fees Earned		348,500				348,500
Salary Expense	186,500		(c) 2,500		189,000
Supplies Expense			(a) 7,500		7,500
Depreciation Expense			(b) 5,600		5,600
Miscellaneous Expense	11,100				11,100
	913,700	913,700	15,600	15,600	921,800	921,800

Required:

	Based on the preceding spreadsheet, prepare an income statement, statement of owners equity, and balance sheet for Bamboo Consulting. Be sure to read the instructions for each financial statement carefully.

Chart of Accounts

CHART OF ACCOUNTS

Bamboo Consulting

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Office Equipment
15	Accumulated Depreciation

	LIABILITIES
21	Accounts Payable
22	Salaries Payable

	EQUITY
31	Lisa Gooch, Capital
32	Lisa Gooch, Drawing
33	Income Summary

	REVENUE
41	Fees Earned

	EXPENSES
51	Salary Expense
52	Supplies Expense
53	Depreciation Expense
54	Miscellaneous Expense

Labels and Amount Descriptions

Labels
Current assets
Current liabilities
Expenses
For the Year Ended July 31, 2019
July 31, 2019
Property, plant, and equipment
Revenues
Amount Descriptions
Decrease in owners equity
Increase in owners equity
Lisa Gooch, capital
Lisa Gooch, capital, August 1, 2018
Lisa Gooch, capital, July 31, 2019
Net income
Net loss
Total assets
Total current assets
Total expenses
Total liabilities
Total liabilities and owners equity
Total property, plant, and equipment
Total revenues
Withdrawals

Income Statement

Prepare an income statement for the year ended July 31, 2019 for Bamboo Consulting. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.

Bamboo Consulting

Income Statement

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Statement of Owners Equity

Prepare a statement of owners equity for the year ended July 31, 2019 for Bamboo Consulting. No additional investments were made during the year. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items.

Bamboo Consulting

Statement of Owners Equity

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Balance Sheet

Prepare a balance sheet as of July 31, 2019 for Bamboo Consulting. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.

Bamboo Consulting

Balance Sheet

1	Assets
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12	Liabilities
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17	Owners Equity
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