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, 20Y5:

	Bamboo Consulting
	End-of-Period Spreadsheet
	For the Year Ended July 31, 20Y5
	Unadjusted						Adjusted
	Trial Balance		Adjustments				Trial Balance
Account Title	Dr.	Cr.		Dr.		Cr.	Dr.	Cr.
Cash	8,650						8,650
Accounts Receivable	20,600						20,600
Supplies	2,180					(a) 1,830	350
Office Equipment	16,480						16,480
Accumulated Depreciation		2,290				(b) 1,090		3,380
Accounts Payable		5,560						5,560
Salaries Payable						(c) 270		270
Lisa Gooch, Capital		21,010						21,010
Lisa Gooch, Drawing	2,680						2,680
Fees Earned		38,830						38,830
Salary Expense	15,450			(c) 270			15,720
Supplies Expense				(a) 1,830			1,830
Depreciation Expense				(b) 1,090			1,090
Miscellaneous Expense	1,650						1,650
	67,690	67,690		3,190		3,190	69,050	69,050

Question Content Area

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

Bamboo Consulting Income Statement For the Year Ended July 31, 20Y5

Accounts receivableCashEquipmentFees earnedSupplies		$- Select -
Expenses:
Accounts payableCashFees earnedSalary expenseSalaries payable	$- Select -
Accounts payableOffice equipmentSuppliesSupplies expenseLisa Gooch, drawing	- Select -
Accounts payableAccounts receivableAccumulated depreciationDepreciation expenseSupplies	- Select -
Accounts payableAccumulated depreciationCashLisa Gooch, capitalMiscellaneous expense	- Select -
Total expenses		fill in the blank f5f11200ffa9ff0_11
Net incomeNet lossRent payableRent receivedWages payable		$- Select -

Question Content Area

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, 20Y5

CashNet incomeLisa Gooch, capital, July 31, 20Y5Lisa Gooch, capital, August 1, 20Y4Lisa Gooch, drawing		$- Select -
Accounts payableCashNet incomeOffice equipmentSalaries payable	$- Select -
Accounts payableCashFees earnedOffice equipmentWithdrawals	- Select -
Decrease in owner's equityIncrease in owner's equityRent payableRent receivedWages payable		- Select -
CashNet IncomeLisa Gooch, capital, July 31, 20Y5Lisa Gooch, capital, August 1, 20Y4Lisa Gooch, drawing		$- Select -

Question Content Area

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

Bamboo Consulting Balance Sheet July 31, 20Y5

Assets
Current assets:
Accounts payableCashFees earnedNet incomeOffice equipment	$- Select -
Accounts payableAccounts receivableFees earnedOffice equipmentSupplies expense	- Select -
Accounts payableCashLisa Gooch, capitalLisa Gooch, drawingSupplies	- Select -
Total current assets		$fill in the blank fef59d055fbf04e_7
Property, plant, and equipment:
CashDepreciation expenseLisa Gooch, drawingOffice equipmentSupplies	$- Select -
Less accounts payableLess accumulated depreciationLess cashLess depreciation expenseLess withdrawals	- Select -
Total property, plant, and equipment		fill in the blank fef59d055fbf04e_12
Total assets		$fill in the blank fef59d055fbf04e_13
Liabilities
Current liabilities:
Accounts payableAccounts receivableFees earnedLisa Gooch, drawingOffice equipment	$- Select -
CashNet incomeOffice equipmentSalaries expenseSalaries payable	- Select -
Total liabilities		$fill in the blank fef59d055fbf04e_18
Owner's Equity
Lisa Gooch, capitalLisa Gooch, drawingNet incomeOffice equipmentSupplies		- Select -
Total liabilities and owner's equity		$fill in the blank fef59d055fbf04e_21