In: Accounting
Financial Statements from the End-of-Period Spreadsheet
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:
During the year ended April 30, 20Y3, common stock of $5,000 was issued.
| 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 | 21,500 | 21,500 | ||||||
| Accounts Receivable | 51,150 | 51,150 | ||||||
| Supplies | 2,400 | 1,650 | 750 | |||||
| Office Equipment | 32,000 | 32,000 | ||||||
| Accumulated Depreciation | 4,500 | 900 | 5,400 | |||||
| Accounts Payable | 3,350 | 3,350 | ||||||
| Salaries Payable | 2,000 | 2,000 | ||||||
| Common Stock | 20,000 | 20,000 | ||||||
| Retained Earnings | 52,200 | 52,200 | ||||||
| Dividends | 10,000 | 10,000 | ||||||
| Fees Earned | 279,000 | 279,000 | ||||||
| Salary Expense | 240,000 | 2,000 | 242,000 | |||||
| Supplies Expense | 1,650 | 1,650 | ||||||
| Depreciation Expense | 900 | 900 | ||||||
| Miscellaneous Expense | 2,000 | 2,000 | ||||||
| 359,050 | 359,050 | 4,550 | 4,550 | 361,950 | 361,950 | |||
Based on the preceding spreadsheet, prepare an income statement for Triton Consulting.
| Triton Consulting | ||
| Income Statement | ||
| For the Year Ended April 30, 20Y3 | ||
| $ | ||
| Expenses: | ||
| $ | ||
| Total expenses | ||
| $ | ||
Based on the preceding spreadsheet, prepare statement of stockholders’ equity for Triton Consulting. If no entry is required, leave the amount box blank or "0". 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 | |
| $ | $ | $ | |
| $ | $ | $ | |
Based on the preceding spreadsheet, prepare a balance sheet for Triton Consulting.
| Triton Consulting | ||
| Balance Sheet | ||
| April 30, 20Y3 | ||
| Assets | ||
| Current assets: | ||
| $ | ||
| Total current assets | $ | |
| Property, plant, and equipment: | ||
| $ | ||
| Total property, plant, and equipment | ||
| Total assets | $ | |
| Liabilities | ||
| Current liabilities: | ||
| $ | ||
| Total liabilities | $ | |
| Stockholders' Equity | ||
| $ | ||
| Total stockholders' equity | ||
| Total liabilities and stockholders' equity | $ | |



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