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Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The fol- lowing end-of-period spreadsheet was prepared for the year ended June 30, 2019: A Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 2019 Unadjusted 2 3 Adjusted 4 Trial Balance Adjustments Trial Balance Dr. 6 Account Title Dr. Cr. Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Office Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Salaries Payable 15 Jayson Neese, Capital 16 Jayson Neese, Drawing 17 Fees Earned 18 Salary Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 22 23 27,000 53,500 3,000 30,500 27,000 53,500 900 30,500 (a) 2,100 |(b) 1,500 6,000 3,300 375 82,200 4,500 3,300 |(c) 375 82,200 2,000 2,000 60,000 60,000 (c) 375 (a) 2,100 (b) 1,500 32,000 32,375 2,100 1,500 2,000 3.975 151,875 151,875 2,000 150,000 150,000 3,975 Based on the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Elliptical Consulting.

Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The fol- lowing end-of-period spreadsheet was prepared for the year ended June 30, 2019: A Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 2019 Unadjusted 2 3 Adjusted 4 Trial Balance Adjustments Trial Balance Dr. 6 Account Title Dr. Cr. Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Office Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Salaries Payable 15 Jayson Neese, Capital 16 Jayson Neese, Drawing 17 Fees Earned 18 Salary Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 22 23 27,000 53,500 3,000 30,500 27,000 53,500 900 30,500 (a) 2,100 |(b) 1,500 6,000 3,300 375 82,200 4,500 3,300 |(c) 375 82,200 2,000 2,000 60,000 60,000 (c) 375 (a) 2,100 (b) 1,500 32,000 32,375 2,100 1,500 2,000 3.975 151,875 151,875 2,000 150,000 150,000 3,975 Based on the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Elliptical Consulting.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The fol- lowing end-of-period spreadsheet was prepared for the year ended June 30, 2019: A Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 2019 Unadjusted 2 3 Adjusted 4 Trial Balance Adjustments Trial Balance Dr. 6 Account Title Dr. Cr. Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Office Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Salaries Payable 15 Jayson Neese, Capital 16 Jayson Neese, Drawing 17 Fees Earned 18 Salary Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 22 23 27,000 53,500 3,000 30,500 27,000 53,500 900 30,500 (a) 2,100 |(b) 1,500 6,000 3,300 375 82,200 4,500 3,300 |(c) 375 82,200 2,000 2,000 60,000 60,000 (c) 375 (a) 2,100 (b) 1,500 32,000 32,375 2,100 1,500 2,000 3.975 151,875 151,875 2,000 150,000 150,000 3,975 Based on the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Elliptical Consulting.
Transcribed Image Text:Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The fol- lowing end-of-period spreadsheet was prepared for the year ended June 30, 2019: A Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 2019 Unadjusted 2 3 Adjusted 4 Trial Balance Adjustments Trial Balance Dr. 6 Account Title Dr. Cr. Dr. Cr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Office Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Salaries Payable 15 Jayson Neese, Capital 16 Jayson Neese, Drawing 17 Fees Earned 18 Salary Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 22 23 27,000 53,500 3,000 30,500 27,000 53,500 900 30,500 (a) 2,100 |(b) 1,500 6,000 3,300 375 82,200 4,500 3,300 |(c) 375 82,200 2,000 2,000 60,000 60,000 (c) 375 (a) 2,100 (b) 1,500 32,000 32,375 2,100 1,500 2,000 3.975 151,875 151,875 2,000 150,000 150,000 3,975 Based on the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Elliptical Consulting.
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