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, 2018:

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, 2018:

Triton Consulting
End-of-Period Spreadsheet
For the Year Ended April 30, 2018
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 28,000 28,000
Accounts Receivable 54,000 54,000
Supplies 3,400 2,400 1,000
Office Equipment 31,000 31,000
Accumulated Depreciation 4,100 1,100 5,200
Accounts Payable 3,100 3,100
Salaries Payable 475 475
Common Stock 30,000 30,000
Retained Earnings 57,000 57,000
Dividends 1,500 1,500
Fees Earned 57,000 57,000
Salary Expense 31,000 475 31,475
Supplies Expense 2,400 2,400
Depreciation Expense 1,100 1,100
Miscellaneous Expense 2,300 2,300
151,200 151,200 3,975 3,975 152,775 152,775
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Triton Consulting. Be sure to read the instructions for each financial statement carefully.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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