End-of-Period Spreadsheet For the Year Ended June 30, 2016 Unadjusted Trial Balance Dr. Adjusted Trial Balance Dr Adjustments Account Title Cr. Dr Cr. Cr. Cash Accounts Receivable Supplies Office Equipment Accumulated Depreciation 27,000 53,500 3,000 30,500 27,000 (a) 2,100 900 30,500 4,500 (b) 1,500 6,000 3,300 Accounts Payable (c)375 375 Salaries Payable Jayson Neese, Capital Jayson Neese, Drawing Fees Earned Salary Expense Supplies Expense 82,200 2,000 2,000 60,000 (c) 375 (a) 2,100 (b) 1,500 32,375 2,100 1.500 2,000 3,975 151,875 151,875 Depreciation Expense 2,000 Miscellaneous Expense 3,975 150,000 150,000 Revenue and expense accounts flow into the income statement. Recall that revenues include fees earned for goods and services. Learning Objective 1, Learning Objective 2 Based on the preceding spreadsheet, prepare a statement of owner's equity for Elliptical Consulting. Elliptical Consulting Statement of Owner's Equity For the Year Ended June 30, 2016 Jayson Neese, capital, July 1, 2015 V Net income Less withdrawals Increase in owner's equity 82.200 3,975 X 2,000 ) Jayson Neese, capital, June 30, 2016 V 3.9751 x Feedback Y Check My Work The first item normally on the statement of owner's equity is the beginning balance of the owner's capital account This balance will be changed po net income, and negatively by any net losses and withdrawals Learning Objective 1, Learning Objective 2 rocoding s adsheet nreare a balance sheet for Elliptical Consulting