Question
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 | 15,120 | 15,120 | |||||
Accounts Receivable | 36,010 | 36,010 | |||||
Supplies | 3,820 | 3,200 | 620 | ||||
Office Equipment | 29,170 | 29,170 | |||||
Accumulated Depreciation | 4,000 | 1,910 | 5,910 | ||||
Accounts Payable | 9,720 | 9,720 | |||||
Salaries Payable | 470 | 470 | |||||
Common Stock | 12,000 | 12,000 | |||||
Retained Earnings | 24,730 | 24,730 | |||||
Dividends | 4,680 | 4,680 | |||||
Fees Earned | 67,880 | 67,880 | |||||
Salary Expense | 26,650 | 470 | 27,120 | ||||
Supplies Expense | 3,200 | 3,200 | |||||
Depreciation Expense | 1,910 | 1,910 | |||||
Miscellaneous Expense | 2,880 | 2,880 | |||||
118,330 | 118,330 | 5,580 | 5,580 | 120,710 | 120,710 |
Based on the preceding spreadsheet, prepare an income statement for Triton Consulting.
Triton Consulting | ||
Income Statement | ||
For the Year Ended April 30, 20Y3 | ||
Fees earned | $fill in the blank 3ad8b1fa4078052_2 | |
Expenses: | ||
Salary expense | $fill in the blank 3ad8b1fa4078052_4 | |
Supplies expense | fill in the blank 3ad8b1fa4078052_6 | |
Depreciation expense | fill in the blank 3ad8b1fa4078052_8 | |
Miscellaneous expense | fill in the blank 3ad8b1fa4078052_10 | |
Total expenses | fill in the blank 3ad8b1fa4078052_11 | |
Net income | $fill in the blank 3ad8b1fa4078052_13 |
Feedback
Based on the preceding spreadsheet, prepare a statement of stockholders equity for Triton Consulting. During the year ended April 30, 20Y3, common stock of $4,000 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.
Triton Consulting | |||
Statement of Stockholders Equity | |||
For the Year Ended April 30, 20Y3 | |||
Common Stock | Retained Earnings | Total | |
Balances, May 1, 20Y2 | $fill in the blank e291c7089ff3fec_2 | $fill in the blank e291c7089ff3fec_3 | $fill in the blank e291c7089ff3fec_4 |
Issued common stock | fill in the blank e291c7089ff3fec_6 | fill in the blank e291c7089ff3fec_7 | fill in the blank e291c7089ff3fec_8 |
Net income | fill in the blank e291c7089ff3fec_10 | fill in the blank e291c7089ff3fec_11 | fill in the blank e291c7089ff3fec_12 |
Dividends | fill in the blank e291c7089ff3fec_14 | fill in the blank e291c7089ff3fec_15 | fill in the blank e291c7089ff3fec_16 |
Balances, April 30, 20Y3 | $fill in the blank e291c7089ff3fec_18 | $fill in the blank e291c7089ff3fec_19 | $fill in the blank e291c7089ff3fec_20 |
Feedback
Based on the preceding spreadsheet, prepare a balance sheet for Triton Consulting.
Triton Consulting | ||
Balance Sheet | ||
April 30, 20Y3 | ||
Assets | ||
Current assets: | ||
Cash | $fill in the blank 3c649ff3efccfb8_2 | |
Accounts receivable | fill in the blank 3c649ff3efccfb8_4 | |
Supplies | fill in the blank 3c649ff3efccfb8_6 | |
Total current assets | $fill in the blank 3c649ff3efccfb8_7 | |
Property, plant, and equipment: | ||
Office equipment | $fill in the blank 3c649ff3efccfb8_9 | |
Accumulated depreciation | fill in the blank 3c649ff3efccfb8_11 | |
Total property, plant, and equipment | fill in the blank 3c649ff3efccfb8_12 | |
Total assets | $fill in the blank 3c649ff3efccfb8_13 | |
Liabilities | ||
Current liabilities: | ||
Accounts payable | $fill in the blank 3c649ff3efccfb8_15 | |
Salaries payable | fill in the blank 3c649ff3efccfb8_17 | |
Total liabilities | $fill in the blank 3c649ff3efccfb8_18 | |
Stockholders' Equity | ||
Common stock | fill in the blank 3c649ff3efccfb8_20 | |
Retained earnings | fill in the blank 3c649ff3efccfb8_22 | |
Total stockholders' equity | fill in the blank 3c649ff3efccfb8_23 | |
Total liabilities and stockholders' equity | fill in the blank 3c649ff3efccfb8_24 |
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