Total expenses 49,000 x 3,780 X 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 Net income Feedback Unadjusted Trial Balance Adjustments. Adjusted Trial Balance Account Title Dr. Dr. Cr. Dr. Cr. Cash 9,580 9,580 Accounts Receivable 22,800 22,800 Supplies 2,420 (a) 2,030 390 Office Equipment 18,700 18,700 Accumulated Depreciation 2,530 (b) 1,210 Accounts Payable 6,160 Salaries Payable (c) 300 3,740 6,160 300 Lisa Gooch, Capital 23,260 23,260 Lisa Gooch, Drawing 2,960 2,960 Fees Earned 42,970 42,970 Salary Expense 16,640 (c) 300 16,940 Supplies Expense Depreciation Expense (a) 2,030 (b) 1,210 2,030 1,210 Miscellaneous Expense 1,820 1,820 74,920 74,920 3,540 3,540 76,430 76,430 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 20Y5 Fees earned Expenses: Salary expense 16,640 x Office equipment x 18,700 X Supplies 2,030 X Miscellaneous expense 1,820 Check My Work 3 more Check My Work uses remaining. 42,970 Check My Work Revenue and expense accounts flow into the income statement. Recall that revenues include fees earned for goo 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 Lisa Gooch, capital, August 1, 2014 23,260 V Net income 3,780 X Withdrawals 2,960 Increase in owner's equity Lisa Gooch, capital, July 31, 20YS 16,520 X 39,780 X Feedback Check My Work The first item normally on the statement of owner's equity is the beginning balance of the owner's capital accour Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Balance Sheet July 31, 2015 Current assets: Cash Accounts receivable Supplies Total current assets Property, plant, and equipment: Assets 9,580 22,800 2,420 X 34,800 X Previous Next