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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
Account Title
Dr.
Cr.
Cash
38,000
Accounts Receivable
90,000
Supplies
9,600
(a) 6,000
3,600
Office Equipment
74,000
Accumulated Depreciation
10,000
(b) 4,800
14,800
Accounts Payable
24,400
Salaries Payable
(c ) 1,500
1,500
Capital Stock
Retained Earnings
80,400
Dividends
12,000
Fees Earned
175,200
Salary Expense
69,000
(c) 1,500
70,500
Supplies Expense
6,000
Depreciation Expense
4,800
Miscellaneous Expense
7,400
300,000
12,300
306,300
Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Holism Consulting.
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