Solution-Balance sheet for holism consulting

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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Balance sheet for holism consulting

Reference no: EM13555741

Reference no: EM13555741

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