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| Drive Safely | Dashboard x Bb Week 5 - ACCT_2301_2A1_Spring x CengageNOWv2 | Online teachin X Cengage Learning X + V X C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false : YouTube f Facebook PNG or JPG to SVG... G Google @ Reescribe, reordena... . Mail - Chavez Sanc... oo Resoomer | Resumi... Bb Home - Blackboard... Remove Backgroundaper Flower Templ... "> Other bookmarks Chapter 04 Homework eBook Show Me How 1. BE.04.02.BLANKSHEET Financial Statements from the End-of-Period Spreadsheet Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 2019: 2. BE.04.03 Demo Consulting 3. EX.04.01 End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 4. EX.04.02 Unadjusted Adjusted 5. EX.04.03.ALGO Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. 6. EX.04.05.ALGO Cash 10,790 10,790 7. EX.04.10 Accounts Receivable 25,690 25,690 8. EX.04.12.ALGO Supplies 2,720 2,290 430 Land 22,350 22,350 9. EX.04.14 Office Equipment 21,070 21,070 10. EX.04.17 Accumulated Depreciation 2,850 1,360 4,210 Accounts Payable 5,940 6,940 11. EX.04.18.ALGO Salaries Payable 330 330 12. EX.04.20 Common Stock 8,600 8,600 Retained Earnings 7,600 17,600 13. PR.04.01A BLANKSHEET Dividends 3,340 3,340 14. EX. 04.06.EXCEL.ALGO Fees Earned 71,300 71,300 Salary Expense 19,270 330 19,600 15. EX. 04.08.EXCEL.ALGO Supplies Expense 2,290 2,290 Depreciation Expense 1,360 1,360 Miscellaneous Expense 2,060 2,060 107,290 107,290 3,980 3,980 108,980 108,980 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting Income Statement For the Year Ended August 31, 2019 Fees earned 71,300 Expenses: Salary expense 19,600 Progress: 5/15 items Check My Work Previous Next > Assignment Score: 58.03% All work saved. Email Instructor Save and Exit Submit Assignment for Grading 69.F 6:54 PM ENG Sunny 3/20/2022| Drive Safely | Dashboard x Bb Week 5 - ACCT_2301_2A1_Spring x CengageNOWv2 | Online teachin X Cengage Learning X + V X C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false YouTube f Facebook PNG or JPG to SVG... G Google @ Reescribe, reordena.. . Mail - Chavez Sanc... co Resoomer | Resumi... Bb Home - Blackboard... Remove Backgroundaper Flower Templ... "> Other bookmarks Chapter 04 Homework eBook Show Me How Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. 1. BE.04.02.BLANKSHEET Demo Consulting 2. BE.04.03 Income Statement For the Year Ended August 31, 20Y9 3. EX.04.01 Fees earned 71,300 Expenses: 4. EX.04.02 Salary expense 19,600 Supplies expense 2,290 5. EX.04.03.ALGO Depreciation expense 1,360 6. EX.04.05.ALGO Miscellaneous expense 2,060 7. EX.04.10 Total expenses 25,310 8. EX.04.12.ALGO Net income 45,990 9. EX.04.14 Feedback Check My Work 10. EX.04.17 Revenue and expense accounts flow into the income statement. 11. EX.04.18.ALGO 12. EX.04.20 Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 2019, $3,400 of additional common stock was issued. 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. 13. PR.04.01A BLANKSHEET Demo Consulting Statement of Stockholders' Equity 14. EX. 04.06.EXCEL.ALGO For the Year Ended August 31, 2019 Common Stock Retained Earnings Total 15. EX. 04.08.EXCEL.ALGO Balances, September 1, 20Y8 8,600 X 17,600 Issued common stock Net income 45,990 X Dividends Balances, August 31, 209 Feedback Check My Work The statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the period, and retained earnings will be increased by any net income and decreased by any net losses and dividends. Based on the preceding spreadsheet. prepare a balance sheet for Demo Consulting. Progress: 5/15 items Check My Work Previous Next > Assignment Score: 58.03% All work saved. Email Instructor Save and Exit Submit Assignment for Grading 69.F 6:55 PM ENG Sunny 9 LOBO 3/20/2022| Drive Safely | Dashboard x Bb Week 5 - ACCT_2301_2A1_Spring x CengageNOWv2 | Online teachin X Cengage Learning X + V X C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false YouTube f Facebook PNG or JPG to SVG... G Google @ Reescribe, reordena... Mail - Chavez Sanc... oo Resoomer | Resumi... Bb Home - Blackboard... Remove Backgroundaper Flower Templ... "> Other bookmarks Chapter 04 Homework eBook Show Me How Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting. 1. BE.04.02.BLANKSHEET Demo Consulting Balance Sheet 2. BE.04.03 August 31, 2019 3. EX.04.01 Assets Current assets: 4. EX.04.02 Cash V 10,790 V Accounts receivable 25,690 5. EX.04.03.ALGO Supplies 430 6. EX.04.05.ALGO Total current assets 36,910 V 7. EX.04.10 Property, plant, and equipment: Land 22,350 V 8. EX.04.12.ALGO Office equipment 21,070 Accumulated depreciation 4,210 9. EX.04.14 Book value-office equipment 10. EX.04.17 Total property, plant, and equipment 11. EX.04.18.ALGO Total assets 12. EX.04.20 Liabilities Current liabilities: 13. PR.04.01A BLANKSHEET Accounts payable 6,940 V 14. EX. 04.06.EXCEL.ALGO Salaries payable 330 Total liabilities 7,270 15. EX. 04.08.EXCEL.ALGO Stockholders' Equity Common stock 8,600 Retained earnings Total stockholders' equity 8,600 X Total liabilities and stockholders' equity Feedback Check My Work Assets (including contra-assets like Accumulated Depreciation), liabilities, and the Retained Earnings Account flow into the balance sheet. Progress: 5/15 items Check My Work Previous Next > Assignment Score: 58.03% All work saved. Email Instructor Save and Exit Submit Assignment for Grading 69.F 6:56 PM ENG Sunny 3/20/2022