Kermode Consulting is a consulting firm owned and operated by Jan Sullivan. The following end-of-period spreadsheet (work
Question:
Based upon the preceding spreadsheet, prepare an income statement, statement of owners equity, and balance sheet for Kermode Consulting.
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Kermode Consulting End-of-Period Spreadsheet (Work Sheet) For the Year Ended December 31, 2015 Unadjusted Trial Balance Adjusted AdjustmentsTrial Balance Income Statement Balance Sheet 6 Account Title 8 Cash 9 Accounts Receivable 7,500 18,500 750 30,500 7,500 18,500 7,500 18,500 3,000 30,500 Supplies 1 Office Equipment 12 Accumulated Depreclation 13 Accounts Payable 14 Salaries Payable 15 Jan Sullivan, Capital 16 Jan Sullivan, Withdrawals 17 Fees Earned 18 Salaries Expense 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense (a) 2,250 750 30,500 4,500 (b) 900 5,400 5,400 3,300 27,200 60,000 3300 400 c) 400 27,200 27,200 2,000 2,000 2,000 60,000 60,000 32,000 (c) 400 (a) 2.250 900 32,400 2,250 32,400 2,250 1500 95,000 95000 3550 35509630096300 3705060,000 59,250 36,300 22,950 23 Net income 24 25 22,950 60,000 60,000 59,250 59,250
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Related Book For
Accounting
ISBN: 978-0176509743
Volume 1, 2nd canadian Edition
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
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