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, 2019:
Based on the preceding spreadsheet, prepare an income statement, statement of owner's equity, and balance sheet for Elliptical Consulting.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
2 3 Elliptical Consultin End-of-Period Spreadsheet For the Year Ended June 30, 2019 Unadjusted Trial Balance Adjusted Trial Balance Adjustments 6 Account Title Cash 27,000 53,500 3,000 30,500 27,000 53,500 900 30,500 9 Accounts Receivable Supplies 11 Office Equipment a) 2,100 1,500 c) 375 6,000 3,300 375 82,200 Accumulated Depreciation 13 Accounts Payable 14 Salaries Payable 15 Jayson Neese, Capital 16 Jayson Neese, Drawing 17 Fees Earned 18 Sala 19 Supplies Expense 20 Depreciation Expense 21 Miscellaneous Expense 4,500 3,300 82,200 60,000 2,000 2,000 60,000 375 (a) 2,100 1,500 32,375 2,100 1,500 2000 nse 32,000 2,000 150,000 150,0003,9753.975151.875 151,875 23
Step by Step Answer:
ELLIPTICALCONSULTING Income Statement For the Year Ended June 30 2019 Fees earned 60000 Expen...View the full answer
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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