Financial Statements from the End-of-Periad Spreadsheet Dema Consulting is a consuting firm omned and operated by Jesse Flatt. The following end-of-piriod spreadsheit was prepared for the year ended August 31, 2OY9: Demo Consulting End of Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,840 10,840 Accounts Receivatle 25,810 25,810 Supphes 2,740 2,300 440 Land 22,450 22,450 Ofice Equipment 21,160 21,160 Accumalated Depreciation 2,850 1,370 4,230 Accounts Payable 6,970 6,970 Salaries Payable 340 340 Comman Stock 8,700 8,700 utained Earnings 17,630 17,630 Dividends 3,360 3,360 Fees Earned 71,620 71,620 Salary Expense 19,360 340 19,700 Supples Expere 2,300 2,300 Depreciation Expense 1,370 1,370 Miscellaneous Expere 2,060 2,060 107,780 107,780 4,010 4,010 100,400 109,490 Based on the preceding spreadshout, prepare an income statement for Dema Consulting. Demo Consulting Income Statement For the Year Ended August 31, 20Y9 Fees earned 71,620 Expenses: Salary expense 19,700 Supplies uxpe 2300 Depreciation expense Miscelleneous expense Total expenses 2430V Net income
Financial Statements from the End-of-Periad Spreadsheet Dema Consulting is a consuting firm omned and operated by Jesse Flatt. The following end-of-piriod spreadsheit was prepared for the year ended August 31, 2OY9: Demo Consulting End of Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,840 10,840 Accounts Receivatle 25,810 25,810 Supphes 2,740 2,300 440 Land 22,450 22,450 Ofice Equipment 21,160 21,160 Accumalated Depreciation 2,850 1,370 4,230 Accounts Payable 6,970 6,970 Salaries Payable 340 340 Comman Stock 8,700 8,700 utained Earnings 17,630 17,630 Dividends 3,360 3,360 Fees Earned 71,620 71,620 Salary Expense 19,360 340 19,700 Supples Expere 2,300 2,300 Depreciation Expense 1,370 1,370 Miscellaneous Expere 2,060 2,060 107,780 107,780 4,010 4,010 100,400 109,490 Based on the preceding spreadshout, prepare an income statement for Dema Consulting. Demo Consulting Income Statement For the Year Ended August 31, 20Y9 Fees earned 71,620 Expenses: Salary expense 19,700 Supplies uxpe 2300 Depreciation expense Miscelleneous expense Total expenses 2430V Net income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Financial Statements from the End-of-Periad Spreadsheet
Dema Consulting is a consuting firm omned and operated by Jesse Flatt. The following end-of-piriod spreadsheit was prepared for the year ended August 31, 2OY9:
Demo Consulting
End of Period Spreadsheet
For the Year Ended August 31, 20Y9
Unadjusted
Adjusted
Trial Balance
Adjustments
Trial Balance
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
10,840
10,840
Accounts Receivatle
25,810
25,810
Supphes
2,740
2,300
440
Land
22,450
22,450
Ofice Equipment
21,160
21,160
Accumalated Depreciation
2,850
1,370
4,230
Accounts Payable
6,970
6,970
Salaries Payable
340
340
Comman Stock
8,700
8,700
utained Earnings
17,630
17,630
Dividends
3,360
3,360
Fees Earned
71,620
71,620
Salary Expense
19,360
340
19,700
Supples Expere
2,300
2,300
Depreciation Expense
1,370
1,370
Miscellaneous Expere
2,060
2,060
107,780
107,780
4,010
4,010
100,400
109,490
Based on the preceding spreadshout, prepare an income statement for Dema Consulting.
Demo Consulting
Income Statement
For the Year Ended August 31, 20Y9
Fees earned
71,620
Expenses:
Salary expense
19,700
Supplies uxpe
2300
Depreciation expense
Miscelleneous expense
Total expenses
2430V
Net income
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