Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 2049. Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2049 Unadjusted Trial Adjusted Trial Adjustments Balance Balance Account Title Dr. Cr. Dr. Cr. Dr. Gr. Cash 59,000 59,000 Accounts 106,600 106,600 Receivable Supplies 11,200 8,000 3,200 Land 775,000 775,000 INSUUcuons Office Equipment 519,000 519,000 Accumulated Depreciation 29,000 5,300 34,300 Accounts Payable 18,500 18,500 Salaries Payable 2,800 2,800 Common Stock 100,000 100,000 Retained Earnings 1,202,300 1,202,300 Dividends 29,000 29,000 Fees Earned 345,000 15,000 Salary Expense 183,500 2,800 186,300 Supplies Expense 8,000 8,000 Depreciation 5,300 5,300 Expense Miscellaneous 11,500 11,500 Instructions TICLA ICU Lally 1,202,JVU ZUZ,000 Dividends 29,000 29,000 Fees Earned 345,000 345,000 Salary Expense 183,500 2,800 186,300 Supplies Expense 8,000 8,000 Depreciation Expense 5,300 5,300 Miscellaneous Expense 11,500 11,500 Total 1,694,800 1,694,800 16,100 16,100 1,702,900 1,702,900 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, 2019, $15,000 of additional common stock was issued. Be sure to read the instructions for each financial statement carefully Prepare an income statement for the year ended August 31, 20y9 for Demo Consulting For those boxes in which you must enter subtracted 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 other than account names. You will not need to enter colons() on the income statement Demo Consulting Income Statement (Label) 1 2 (Label) 3 4 Prepare a statement of stockholders' equity for the year ended August 31, 20y9 for Demo Consulting a net loss is incurred or dividends were pard enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Use the list of Labels and Armount Descriptions for the correct wording of text items Demo Consulting Statement of Stockholders' Equity (Late) Retained Earnings Common Stock Total 1 2 3 Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Balance Sheet Prepare a balance sheet as of August 31, 20y9 for Demo 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 Descnptions for the correct wording of text items other than account names. You will not need to enter colons() it will automatically insert where necessary for those bowes in which you must enter subtracted or negative numbers use a minus sign Demo Consulting Balance Sheet (Label Assets 2 Label 5 4 5 Label) Check My Work Save and Suba All work saved HD - O i C
