Question

Financial Statements from the End-of-Period Spreadsheet Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,560 9,560 Accounts Receivable 22,770 22,770 Supplies 2,410 (a) 2,030 380 Office Equipment 18,220 18,220 Accumulated Depreciation 2,530 (b) 1,210 3,740 Accounts Payable 6,150 6,150 Salaries Payable (c) 300 300 Lisa Gooch, Capital 23,230 23,230 Lisa Gooch, Drawing 2,960 2,960 Fees Earned 43,140 43,140 Salary Expense 17,310 (c) 300 17,610 Supplies Expense (a) 2,030 2,030 Depreciation Expense (b) 1,210 1,210 Miscellaneous Expense 1,820 1,820 75,050 75,050 3,540 3,540 76,560 76,560 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2019 $ Expenses: $ Total expenses $ Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting. Bamboo Consulting Statement of Owner's Equity For the Year Ended July 31, 2019 $ $ $ Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Balance Sheet July 31, 2019 Assets Current assets: $ Total current assets $ Property, plant, and equipment: $ Total property, plant, and equipment Total assets $ Liabilities Current liabilities: $ Total liabilities $ Owner's Equity Total liabilities and owner's equity $

Answer 1