Solution-Financial statements from the end-of-period

Financial statements from the end-of-period spreadsheet

Reference no: EM13555739

Financial statements from the end-of-period spreadsheet

Olympia Consulting is a consulting firm owned and operated by Raul Hann. The following end-of-period spreadsheet was prepared for the year ended April 30, 2014.

Olympia Consulting End-of-Period Spreadsheet For the Year Ended April 30, 2014
	Unadjusted				Adjusted
	Trial Balance		Adjusted		Trial Balance
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.

Cash	27,500				27,500
Accounts Receivable	53,500				53,500
Supplies	3,000			(a) 1,800	1,200
Office Equipment	30,500				30,500
Accumulated Depreciation		4,500		(b) 750		5,250
Accounts Payable		3,300				3,300
Salaries Payable				(c ) 450		450
Capital Stock		30,000				30,000
Retained Earnings		52,200				52,200
Dividends	2,000				2,000
Fees Earned		60,000				60,000
Salary Expense	32,000				32,450
Supplies Expense					1,800
Depreciation Expense					750
Miscellaneous Expense	1,500				1,500
	150,000	150,000	3,000	3,000	151,200	151,200

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

Reference no: EM13555739

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Financial statements from the end-of-period spreadsheet

Reference no: EM13555739

Reference no: EM13555739

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