Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was
Question:
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:
Based on the preceding spreadsheet, prepare an income statement, statement of owner’s equity, and balance sheet for Elliptical Consulting.
B Elliptical Consulting End-of-Period Spreadsheet For the Year Ended June 30, 20Y6 Unadjusted Trial Balance Dr. A C D G 1 3. Adjusted Adjustments Cr. Trial Balance 6 Account Title 7. Cr. Dr. Dr. 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 (a) 2,100 30,500 4,500 3,300 6,000 3,300 375 (b) 1,500 (c) 375 82,200 2,000 82,200 2,000 60,000 60,000 32,000 (c) 375 (a) 2,100 (b) 1,500 32,375 2,100 1,500 2,000 150,000 150,000 2,000 3,975 151,875 151,875 3,975
Step by Step Answer:
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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