Balance sheet for holism consulting

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Reference no: EM13555741

Financial statements from the end-of-period spreadsheet

Holism Consulting is a consulting firm owned and operated by Scott Cutler. The end-of period spreadsheet shown below was prepared for the year ended May 31, 2014.

Holism Consulting

End-of-Period Spreadsheet

For the Year Ended May 31, 2014


Unadjusted



Adjusted



Trial Balance

Adjusted


Trial Balance

Account Title

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.








Cash

38,000




38,000


Accounts Receivable

90,000




90,000


Supplies

9,600



(a) 6,000

3,600


Office Equipment

74,000




74,000


Accumulated Depreciation


10,000


(b) 4,800


14,800

Accounts Payable


24,400




24,400

Salaries Payable




(c ) 1,500


1,500

Capital Stock


10,000




10,000

Retained Earnings


80,400




80,400

Dividends

12,000




12,000


Fees Earned


175,200




175,200

Salary Expense

69,000


(c) 1,500


70,500


Supplies Expense



(a) 6,000


6,000


Depreciation Expense



(b) 4,800


4,800


Miscellaneous Expense

7,400




7,400



300,000

300,000

12,300

12,300

306,300

306,300

Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Holism Consulting.

Reference no: EM13555741

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