Question: Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:

During the year ended April 30, 20Y3, common stock of $4,000 was issued.

Account Title Unadjusted Trial Balance Dr. Unadjusted Trial Balance Cr. Adjustments Dr. Adjustments Cr. Adjusted Trial Balance Dr. Adjusted Trial Balance Cr.
Cash 14,980 14,980
Accounts Receivable 35,660 35,660
Supplies 3,780 3,170 610
Office Equipment 28,530 28,530
Accumulated Depreciation 3,960 1,890 5,850
Accounts Payable 9,630 9,630
Salaries Payable 460 460
Common Stock 12,000 12,000
Retained Earnings 24,370 24,370
Dividends 4,640 4,640
Fees Earned 67,230 67,230
Salary Expense 26,750 460 27,210
Supplies Expense 3,170 3,170
Depreciation Expense 1,890 1,890
Miscellaneous Expense 2,850 2,850
Total 117,190 117,190 5,520 5,520 119,540 119,540

Question Content Area

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

Line Item Description Amount Amount
Fees earned $Fees earned
Expenses:
Salary expense $Salary expense
Supplies expense

Supplies expense

Depreciation expense

Depreciation expense

Miscellaneous expense

Miscellaneous expense

Total expenses

Total expenses

Net income $Net income

Question Content Area

Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Triton Consulting. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

Line Item Description Common Stock Retained Earnings Total
Balances, May 1, 20Y2
Issued common stock

Net income

Dividends

Balances, April 30, 20Y3

Feedback Area

Question Content Area

Based on the preceding spreadsheet, prepare a balance sheet for Triton Consulting.

Line Item Description Amount Amount
Assets
Current assets:
Cash $Cash
Accounts receivable

Accounts receivable

Supplies

Supplies

Total current assets $Total current assets
Property, plant, and equipment:
Office equipment $Office equipment
Accumulated depreciation

Accumulated depreciation

Total property, plant, and equipment

Total property, plant, and equipment

Total assets $Total assets
Liabilities
Current liabilities:
Accounts payable $Accounts payable
Salaries payable

Salaries payable

Total liabilities $Total liabilities
Stockholders' Equity
Common stock $Common stock
Retained earnings

Retained earnings

Total stockholders' equity

Total stockholders' equity

Total liabilities and stockholders' equity

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