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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 11,110 11,110 Accounts Receivable 26,450 26,450 Supplies 2,800 (а) 2,350 450 Office Equipment 21,160 21,160 Accumulated Depreciation 2,940 (b) 1,400 4,340 Accounts Payable 7,140 7,140 Salaries Payable (c) 340 340 Lisa Gooch, Capital 26,980 26,980 Lisa Gooch, Drawing 3,440 3,440 Fees Earned 49,590 49,590 Salary Expense 19,570 (c) 340 19,910 Supplies Expense (а) 2,350 2,350 Depreciation Expense (b) 1,400 1,400 Miscellaneous Expense 2,120 2,120 86,650 86,650 4,090 4,090 88,390 88,390 Based on the preceding spreadsheet, prepare an income statement for Bamb00 Consulting.
Transcribed Image Text: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 11,110 11,110 Accounts Receivable 26,450 26,450 Supplies 2,800 (а) 2,350 450 Office Equipment 21,160 21,160 Accumulated Depreciation 2,940 (b) 1,400 4,340 Accounts Payable 7,140 7,140 Salaries Payable (c) 340 340 Lisa Gooch, Capital 26,980 26,980 Lisa Gooch, Drawing 3,440 3,440 Fees Earned 49,590 49,590 Salary Expense 19,570 (c) 340 19,910 Supplies Expense (а) 2,350 2,350 Depreciation Expense (b) 1,400 1,400 Miscellaneous Expense 2,120 2,120 86,650 86,650 4,090 4,090 88,390 88,390 Based on the preceding spreadsheet, prepare an income statement for Bamb00 Consulting.
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