Financial statements from the end-of-period spreadsheet
Olympia Consulting is a consulting firm owned and operated by Raul Hann. The following end-of-period spreadsheet was prepared for the year ended April 30, 2014.
|
Olympia Consulting End-of-Period Spreadsheet For the Year Ended April 30, 2014 |
||||||
|
Unadjusted |
Adjusted |
|||||
|
Trial Balance |
Adjusted |
Trial Balance |
||||
|
Account Title |
Dr. |
Cr. |
Dr. |
Cr. |
Dr. |
Cr. |
|
Cash |
27,500 |
27,500 |
||||
|
Accounts Receivable |
53,500 |
53,500 |
||||
|
Supplies |
3,000 |
(a) 1,800 |
1,200 |
|||
|
Office Equipment |
30,500 |
30,500 |
||||
|
Accumulated Depreciation |
4,500 |
(b) 750 |
5,250 |
|||
|
Accounts Payable |
3,300 |
3,300 |
||||
|
Salaries Payable |
(c ) 450 |
450 |
||||
|
Capital Stock |
30,000 |
30,000 |
||||
|
Retained Earnings |
52,200 |
52,200 |
||||
|
Dividends |
2,000 |
2,000 |
||||
|
Fees Earned |
60,000 |
60,000 |
||||
|
Salary Expense |
32,000 |
32,450 |
||||
|
Supplies Expense |
1,800 |
|||||
|
Depreciation Expense |
750 |
|||||
|
Miscellaneous Expense |
1,500 |
1,500 |
||||
|
150,000 |
150,000 |
3,000 |
3,000 |
151,200 |
151,200 |
|
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Olympia Consulting.