*Harry Consulting is a consulting firm owned and operated by Harry Smith. The end-of-period spreadsheet shown...
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*Harry Consulting is a consulting firm owned and operated by Harry Smith. The end-of-period spreadsheet shown below was prepared for the year ended July 31, 2015: Unadjusted Trial Balance Account Title Cash Accounts Receivable Supplies Office Equipment Accumulated Depreciation Accounts Payable Salaries & Wages Payable Harry Smith, Capital Harry Smith, Drawing Fees Earned Salaries & Wages Expense Supplies Expense Depreciation Expense Miscellaneous Expense Dr. 120,000 56,000 12,400 53,000 5,000 70,000 17,000 29,400 95,000 177,100 2,100 318,500 318.500 Adjustments Cr. Dr. 115,70 0 8,000 5,100 128,80 0 8,000 5,100 115,700 Adjusted Trial Balance Dr. Cr. 120,000 56,000 4,400 53,000 5,000 185,700 8,000 5,100 2,100 128,800 439,300 22,100 29,400 115,700 95,000 177,100 439,300 Required: 1. Prepare an income statement for the year ended July 31, 2015. 2. Prepare a statement of Owner's Equity for the year ended July 31, 2015. No additional investments were made during the year. Prepare a balance sheet as of July 31, 2015. 3. *Harry Consulting is a consulting firm owned and operated by Harry Smith. The end-of-period spreadsheet shown below was prepared for the year ended July 31, 2015: Unadjusted Trial Balance Account Title Cash Accounts Receivable Supplies Office Equipment Accumulated Depreciation Accounts Payable Salaries & Wages Payable Harry Smith, Capital Harry Smith, Drawing Fees Earned Salaries & Wages Expense Supplies Expense Depreciation Expense Miscellaneous Expense Dr. 120,000 56,000 12,400 53,000 5,000 70,000 17,000 29,400 95,000 177,100 2,100 318,500 318.500 Adjustments Cr. Dr. 115,70 0 8,000 5,100 128,80 0 8,000 5,100 115,700 Adjusted Trial Balance Dr. Cr. 120,000 56,000 4,400 53,000 5,000 185,700 8,000 5,100 2,100 128,800 439,300 22,100 29,400 115,700 95,000 177,100 439,300 Required: 1. Prepare an income statement for the year ended July 31, 2015. 2. Prepare a statement of Owner's Equity for the year ended July 31, 2015. No additional investments were made during the year. Prepare a balance sheet as of July 31, 2015. 3.
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Based on the adjusted trial balance you provided lets prepare the required financial statements for Harry Consulting for the year ended July 31 2015 1 Prepare an income statement for the year ended Ju... View the full answer
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