Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:

Triton Consulting
End-of-Period Spreadsheet
For the Year Ended April 30, 20Y3
Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 15,240 15,240
Accounts Receivable 36,280 36,280
Supplies 3,850 3,230 620
Office Equipment 29,750 29,750
Accumulated Depreciation 4,030 1,920 5,950
Accounts Payable 9,800 9,800
Salaries Payable 470 470
Common Stock 12,000 12,000
Retained Earnings 25,010 25,010
Dividends 4,720 4,720
Fees Earned 68,750 68,750
Salary Expense 26,850 470 27,320
Supplies Expense 3,230 3,230
Depreciation Expense 1,920 1,920
Miscellaneous Expense 2,900 2,900
119,590 119,590 5,620 5,620 121,980 121,980

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions