Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 58,000           58,000  
Accounts Receivable 106,200           106,200  
Supplies 11,900       (a) 7,500 4,400  
Office Equipment 515,000           515,000  
Accumulated Depreciation   28,000     (b) 5,600   33,600
Accounts Payable   20,500           20,500
Salaries Payable          (c) 2,500   2,500
Lisa Gooch, Capital   516,700           516,700
Lisa Gooch, Drawing 25,000           25,000  
Fees Earned   348,500           348,500
Salary Expense 186,500   (c) 2,500     189,000  
Supplies Expense     (a) 7,500     7,500  
Depreciation Expense     (b) 5,600     5,600  
Miscellaneous Expense 11,100           11,100  
  913,700 913,700   15,600   15,600 921,800 921,800

Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting.

Bamboo Consulting
Income Statement
For the Year Ended July 31, 2019
    $fill in the blank 68c31a02c017f88_2
Expenses:    
  $fill in the blank 68c31a02c017f88_4  
  fill in the blank 68c31a02c017f88_6  
  fill in the blank 68c31a02c017f88_8  
  fill in the blank 68c31a02c017f88_10  
Total expenses   fill in the blank 68c31a02c017f88_11
    $fill in the blank 68c31a02c017f88_13

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
    $fill in the blank 3f192c08704e00f_2
  $fill in the blank 3f192c08704e00f_4  
  fill in the blank 3f192c08704e00f_6  
    fill in the blank 3f192c08704e00f_8
    $fill in the blank 3f192c08704e00f_10

Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting.

Bamboo Consulting
Balance Sheet
July 31, 2019
Assets
Current assets:    
  $fill in the blank 822ee201e07901f_2  
  fill in the blank 822ee201e07901f_4  
  fill in the blank 822ee201e07901f_6  
Total current assets   $fill in the blank 822ee201e07901f_7
Property, plant, and equipment:    
  $fill in the blank 822ee201e07901f_9  
  fill in the blank 822ee201e07901f_11  
Total property, plant, and equipment   fill in the blank 822ee201e07901f_12
Total assets   $fill in the blank 822ee201e07901f_13
Liabilities
Current liabilities:    
  $fill in the blank 822ee201e07901f_15  
  fill in the blank 822ee201e07901f_17  
Total liabilities   $fill in the blank 822ee201e07901f_18
Owner's Equity
    fill in the blank 822ee201e07901f_20
Total liabilities and owner's equity   $fill in the blank 822ee201e07901f_21
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