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Financial Statements from the End-of-Period Spreadsheet Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for
Financial Statements from the End-of-Period Spreadsheet 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, 2015: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2015 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 7,780 7,780 Accounts Receivable 18,520 18,520 Supplies 1,960 (a) 1,650 310 Office Equipment 15,000 15,000 Accumulated Depreciation 2,060 (b) 980 3,040 Accounts Payable 5,000 5,000 Salaries Payable (c) 240 240 Lisa Gooch, Capital 18,890 18,890 Lisa Gooch, Drawing 2,410 2,410 Fees Earned 35,280 35,280 Salary Expense 14,080 (c) 240 14,320 Supplies Expense (a) 1,650 1,650 Depreciation Expense (b) 980 980 Miscellaneous Expense 1,480 1,480 61,230 61,230 2,870 2,870 62,450 62,450 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2015 Expenses: Total expenses Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting. Bamboo Consulting Statement of Owner's Equity For the Year Ended July 31, 2015 Current assets: Bamboo Consulting Balance Sheet July 31, 2015 Assets Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's Equity Total liabilities and owner's equity 100 0
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