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, 2016:

	Bamboo Consulting
	End-of-Period Spreadsheet
	For the Year Ended July 31, 2016
	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	56,600				56,600
Accounts Receivable	106,000				106,000
Supplies	12,400			(a) 7,100	5,300
Office Equipment	521,000				521,000
Accumulated Depreciation		24,000		(b) 5,700		29,700
Accounts Payable		20,000				20,000
Salaries Payable				(c) 2,500		2,500
Common Stock		150,000				150,000
Retained Earnings		377,400				377,400
Dividends	26,000				26,000
Fees Earned		350,000				350,000
Salary Expense	188,000		(c) 2,500		190,500
Supplies Expense			(a) 7,100		7,100
Depreciation Expense			(b) 5,700		5,700
Miscellaneous Expense	11,400				11,400
Total	921,400	921,400	15,300	15,300	929,600	929,600

Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, 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	Common Stock
32	Retained Earnings
33	Dividends
34	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, 2016
July 31, 2016
Property, plant, and equipment
Revenues
Amount Descriptions
Add dividends
Decrease in retained earnings
Increase in retained earnings
Less dividends
Net income
Net loss
Retained earnings, August 1, 2015
Retained earnings, July 31, 2016
Total assets
Total current assets
Total expenses
Total liabilities
Total liabilities and stockholders equity
Total property, plant, and equipment
Total revenues
Total stockholders equity

Income Statement

Prepare an income statement for the year ended July 31, 2016 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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Retained Earnings Statement

Prepare a retained earnings statement for the year ended July 31, 2016 for Bamboo Consulting. If a net loss has been incurred or there has been a decrease in retained earnings, 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.

Bamboo Consulting

Retained Earnings Statement

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Balance Sheet

Prepare a balance sheet as of July 31, 2016 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	Stockholders Equity
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