Question
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
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, 20Y9: Demo Consulting End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 8,870 8,870 Accounts Receivable 21,110 21,110 Supplies 2,240 1,880 360 Land 18,370 18,370 Office Equipment 17,310 17,310 Accumulated Depreciation 2,340 1,120 3,460 Accounts Payable 5,700 5,700 Salaries Payable 270 270 Common Stock Retained Earnings Dividends Fees Earned 7,100 7,100 14,430 14,430 2,740 2,740 58,170 58,170 Salary Expense 15,410 270 15,680 Supplies Expense 1,880 1,880 Depreciation Expense 1,120 1,120 Miscellaneous Expense 1,690 1,690 87,740 87,740 3,270 3,270 89,130 89,130 Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 20Y9, $2,800 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, 20Y9 Balances, September 1, 20Y8 Issued common stock Net income Common Stock Dividends Balances, August 31, 20Y9 7,100 Retained Earnings Total Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting
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