Question
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, 2019: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 11,370 11,370 Accounts Receivable 27,070 27,070 Supplies 2,870 (a) 2,410 460 Office Equipment 21,660 21,660 Accumulated Depreciation Accounts Payable 3,000 7,310 (b) 1,430 4,430 7,310 Salaries Payable (c) 350 350 Lisa Gooch, Capital 27,610 27,610 Lisa Gooch, Drawing 3,520 3,520 Fees Earned 51,040 51,040 Salary Expense 20,300 (c) 350 20,650 Supplies Expense (a) 2,410 2,410 Depreciation Expense (b) 1,430 1,430 Miscellaneous Expense 2,170 2,170 88,960 88,960 4,190 4,190 90,740 90,740 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2019 Fees earned 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, 2019 Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Balance Sheet Current assets: July 31, 2019 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
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