Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended June 30, 20Y6:   Elliptical Consulting   End-of-Period Spreadsheet   For the Year Ended June 30, 20Y6   Unadjusted

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended June 30, 20Y6:

  Elliptical Consulting
  End-of-Period Spreadsheet
  For the Year Ended June 30, 20Y6
  Unadjusted         Adjusted
  Trial Balance Adjustments Trial Balance
Account Title    Dr.    Cr.      Dr.      Cr.    Dr.    Cr.
                 
Cash 27,000           27,000  
Accounts Receivable 53,500           53,500  
Supplies 3,000         (a) 2,100 900  
Office Equipment 30,500           30,500  
Accumulated Depreciation   4,500       (b) 1,500   6,000
Accounts Payable   3,300           3,300
Salaries Payable           (c) 375   375
Jayson Neese, Capital   82,200           82,200
Jayson Neese, Drawing 2,000           2,000  
Fees Earned   60,000           60,000
Salary Expense 32,000     (c) 375     32,375  
Supplies Expense       (a) 2,100     2,100  
Depreciation Expense       (b) 1,500     1,500  
Miscellaneous Expense 2,000           2,000  
  150,000 150,000   3,975   3,975 151,875 151,875

Question Content Area

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

Elliptical ConsultingIncome StatementFor the Year Ended June 30, 20Y6
 
  $- Select -
Expenses:    
 
$- Select -  
 
- Select -  
 
- Select -  
 
- Select -  
Total expenses    
 
  $- Select -
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