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- 1. EX 04.01 2. EX.04.03 ALGO 3. EX.04.05A.CO 4. EX.04.14 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting, Demo Consulting Income Statement For the Year Ended August 31, 2049 Fees earned Expenses: Salary expense 5. EX.04.17 6. EX.04.20 Supplies expense 7. EX.04.06 EXCEL ALGO Depreciation expense Miscellaneous expense Total expenses Net income Check My Work Revenue and expense accounts flow into the income statement. Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 209, $2,500 1 Type here to search RI AGA 4X ENG 1:06 PM 9/20/2020 C Chapter 04 Homework (Application) eBook Show Me How Calculator 1. EX.04.01 2. EX.04.03. ALGO 3. EX.04.05 ALCO 4. EX.04.14 .. Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 2019, $2,500 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, 2049 Common Stock Retained Earnings Total Balances, September 1, 2008 Issued common stock Net income Dividends Balances, August 31, 2019 5. EX.04.17 6. EX.04.20 D00001 Dporni 7. EX.04.06 EXCEL ALGO Check My Word The statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the period, and retained earnings will be increased by any net income and decreased by any net losses and dividends. Type here to search O BI E 1 A * ENG 1:09 PM 9/20/2020 C Chapter 04 Homework (Application) eBook * Show Me How Calculator 1. EX 04.01 2. EX.04.03 ALGO Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting. Demo Consulting Balance Sheet August 31, 2049 3. EX 04.05 ALGO 4. EX.04.14 5. EX 04.17 Current assets: Cash 6. EX.04.20 Accounts receivable 7. EX.04.06 EXCEL ALGO Supplies Total current assets Property, plant, and equipment: Land Office equipment Accumulated depreciation Book value office equipment 0 DO Total property, plant, and equipment Total assets Type here to search BE * ( ENG 1:10 PM 9/20/2020 C Chapter 04 Homework (Application) eBook Show Me How Calculator 1. EX 04.01 Current liabilities: Accounts payable 2. EX.04.03 ALGO 3. EX.04.05 ALGO Salaries payable Total abilities a 4. EX.04.14 5. EX.04.17 6. EX 04.20 Common stock Retained earnings Total stockholders' equity Total abilities and stockholders' equity 7. EX.04.06 EXCEL ALGO Feedback The My Assets (including contra-assets like Accumulated Depreciation), liabilities, and the Retained Earnings Account flow into the balance sheet Check Partially connect Type here to search ** 4** ENG 1:10 PM 9/20/2020 Chapter 04 Homework (Application) eBook Show Me How Calculator Adjustments Trial Balance 1. EX 04.01 Trial Balance Dr. Cr. Account Title Dr. Cr. Dr. Cr. 2. EX.04.03 ALGO 7,850 7,850 18,680 Cash Accounts Receivable Supplies 18,680 1,980 3. EX.04,05 ALGO 4. EX 04.14 1,660 320 Land 16,060 16,060 15,130 15,130 5. EX.04.17 990 2.070 5,040 3,060 5,040 6. EX.04.20 240 240 7. EX.04.06.EXCEL ALGO 6,300 6,300 12,750 12,750 Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 2,430 2,430 51,470 51,470 14,010 240 14,250 1,660 1,660 990 990 1,490 1,490 77,630 77,630 2.890 2,890 78,860 78,860 Type here to search OR Previous Next 12:48 PM (? A * ENG 9/20/2020