Financial Statements from the End$-$of$-$Period Spreadsheet

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 $31,20$Y$9$:

Demo Consulting

End$-$of$-$Period Spreadsheet

For the Year Ended March $31,20$Y$9$

Account Title Unadjusted

Trial Balance

Dr$.$ Unadjusted

Trial Balance

Cr$.$ Adjustments

Dr$.$ Adjustments

Cr$.$ Adjusted

Trial Balance

Dr$.$ Adjusted

Trial Balance

Cr$.$

Cash $9,3809,380$

Accounts Receivable $22,33022,330$

Supplies $2,3701,990380$

Land $19,43019,430$

Office Equipment $18,31018,310$

Accumulated Depreciation $2,4801,1803,660$

Accounts Payable $6,0306,030$

Salaries Payable $290290$

Common Stock $7,5007,500$

Retained Earnings $15,28015,280$

Dividends $2,9002,900$

Fees Earned $61,97061,970$

Salary Expense $16,75029017,040$

Supplies Expense $1,9901,990$

Depreciation Expense $1,1801,180$

Miscellaneous Expense $1,7901,790$

$93,26093,2603,4603,46094,73094,730$

Question Content Area

Based on the preceding spreadsheet, prepare an income statement for Demo Consulting.

Demo Consulting

Income Statement

For the Year Ended August $31,20$Y$9$

$$-$ Select $-$

Expenses:

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total expenses fill in the blank $63$a$42$a$0$d$502$dfce$\_11$

$$-$ Select $-$

Question Content Area

Based on the preceding spreadsheet, prepare a statement of stockholders$$ equity for Demo Consulting. During the year ended August $31,20$Y$9,$ $$3,000$ of additional common stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

Demo Consulting

Statement of Stockholders$$ Equity

For the Year Ended August $31,20$Y$9$

blank Common Stock Retained Earnings Total

$$-$ Select $-$

$$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$$-$ Select $-$

$$-$ Select $-$

$$-$ Select $-$

Question Content Area

Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting.

Demo Consulting

Balance Sheet

August $31,20$Y$9$

Assets

Current assets: blank

blank $$-$ Select $-$

blank $-$ Select $-$

blank $-$ Select $-$

Total current assets blank $fill in the blank f$45716034$ff$2$f$9$d$\_7$

Property, plant, and equipment: blank

blank $$-$ Select $-$

blank

$$-$ Select $-$

blank

$-$ Select $-$

blank

blank $-$ Select $-$

blank

Total property, plant, and equipment blank fill in the blank f$45716034$ff$2$f$9$d$\_16$

Total assets blank $fill in the blank f$45716034$ff$2$f$9$d$\_17$

Liabilities

Current liabilities: blank

blank $$-$ Select $-$

blank $-$ Select $-$

Total liabilities blank $fill in the blank f$45716034$ff$2$f$9$d$\_22$

Stockholders' Equity

blank $$-$ Select $-$

blank $-$ Select $-$

Total stockholders' equity blank fill in the blank f$45716034$ff$2$f$9$d$\_27$

Total liabilities and stockholders' equity blank $fill in the blank f$45716034$ff$2$f$9$d$\_28$