Financial Statements from the End-of-Period Spreadsheet Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,670 9,670 Accounts Receivable 23,020 23,020 Supplies 2,440 (a) 2,050 390 Office Equipment 18,420 18,420 Accumulated Depreciation 2,560 (b) 1,220 3,780 Accounts Payable 6,220 6,220 Salaries Payable (c) 300 300 Lisa Gooch, Capital 23,480 23,480 Lisa Gooch, Drawing 2,990 2,990 Fees Earned 43,620 43,620 Salary Expense 17,500 (c) 300 17,800 Supplies Expense (a) 2,050 2,050 Depreciation Expense (b) 1,220 1,220 Miscellaneous Expense 1,840 1,840 75,880 75,880 3,570 3,570 77,400 77,400 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2019 $fill in the blank 8651c70cf00506f_2 Expenses: $fill in the blank 8651c70cf00506f_4 fill in the blank 8651c70cf00506f_6 fill in the blank 8651c70cf00506f_8 fill in the blank 8651c70cf00506f_10 Total expenses fill in the blank 8651c70cf00506f_11 $fill in the blank 8651c70cf00506f_13 Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting. Bamboo Consulting Statement of Owner's Equity For the Year Ended July 31, 2019 $fill in the blank 87ffd9f4301bf7f_2 $fill in the blank 87ffd9f4301bf7f_4 fill in the blank 87ffd9f4301bf7f_6 fill in the blank 87ffd9f4301bf7f_8 $fill in the blank 87ffd9f4301bf7f_10 Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Balance Sheet July 31, 2019 Assets Current assets: $fill in the blank f35d6f05ef8204e_2 fill in the blank f35d6f05ef8204e_4 fill in the blank f35d6f05ef8204e_6 Total current assets $fill in the blank f35d6f05ef8204e_7 Property, plant, and equipment: $fill in the blank f35d6f05ef8204e_9 fill in the blank f35d6f05ef8204e_11 Total property, plant, and equipment fill in the blank f35d6f05ef8204e_12 Total assets $fill in the blank f35d6f05ef8204e_13 Liabilities Current liabilities: $fill in the blank f35d6f05ef8204e_15 fill in the blank f35d6f05ef8204e_17 Total liabilities $fill in the blank f35d6f05ef8204e_18 Owner's Equity fill in the blank f35d6f05ef8204e_20 Total liabilities and owner's equity $fill in the blank f35d6f05ef8204e_21

Financial Statements from the End-of-Period Spreadsheet Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019: Bamboo Consulting End-of-Period Spreadsheet For the Year Ended July 31, 2019 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,670 9,670 Accounts Receivable 23,020 23,020 Supplies 2,440 (a) 2,050 390 Office Equipment 18,420 18,420 Accumulated Depreciation 2,560 (b) 1,220 3,780 Accounts Payable 6,220 6,220 Salaries Payable (c) 300 300 Lisa Gooch, Capital 23,480 23,480 Lisa Gooch, Drawing 2,990 2,990 Fees Earned 43,620 43,620 Salary Expense 17,500 (c) 300 17,800 Supplies Expense (a) 2,050 2,050 Depreciation Expense (b) 1,220 1,220 Miscellaneous Expense 1,840 1,840 75,880 75,880 3,570 3,570 77,400 77,400 Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting. Bamboo Consulting Income Statement For the Year Ended July 31, 2019 $fill in the blank 8651c70cf00506f_2 Expenses: $fill in the blank 8651c70cf00506f_4 fill in the blank 8651c70cf00506f_6 fill in the blank 8651c70cf00506f_8 fill in the blank 8651c70cf00506f_10 Total expenses fill in the blank 8651c70cf00506f_11 $fill in the blank 8651c70cf00506f_13 Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting. Bamboo Consulting Statement of Owner's Equity For the Year Ended July 31, 2019 $fill in the blank 87ffd9f4301bf7f_2 $fill in the blank 87ffd9f4301bf7f_4 fill in the blank 87ffd9f4301bf7f_6 fill in the blank 87ffd9f4301bf7f_8 $fill in the blank 87ffd9f4301bf7f_10 Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting. Bamboo Consulting Balance Sheet July 31, 2019 Assets Current assets: $fill in the blank f35d6f05ef8204e_2 fill in the blank f35d6f05ef8204e_4 fill in the blank f35d6f05ef8204e_6 Total current assets $fill in the blank f35d6f05ef8204e_7 Property, plant, and equipment: $fill in the blank f35d6f05ef8204e_9 fill in the blank f35d6f05ef8204e_11 Total property, plant, and equipment fill in the blank f35d6f05ef8204e_12 Total assets $fill in the blank f35d6f05ef8204e_13 Liabilities Current liabilities: $fill in the blank f35d6f05ef8204e_15 fill in the blank f35d6f05ef8204e_17 Total liabilities $fill in the blank f35d6f05ef8204e_18 Owner's Equity fill in the blank f35d6f05ef8204e_20 Total liabilities and owner's equity $fill in the blank f35d6f05ef8204e_21

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 68BPSB

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Financial Statements from the End-of-Period Spreadsheet

Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019:

	Bamboo Consulting
	End-of-Period Spreadsheet
	For the Year Ended July 31, 2019
	Unadjusted					Adjusted
	Trial Balance	Adjustments	Trial Balance
Account Title	Dr.	Cr.		Dr.		Cr.	Dr.	Cr.

Cash	9,670						9,670
Accounts Receivable	23,020						23,020
Supplies	2,440				(a)	2,050	390
Office Equipment	18,420						18,420
Accumulated Depreciation		2,560			(b)	1,220		3,780
Accounts Payable		6,220						6,220
Salaries Payable					(c)	300		300
Lisa Gooch, Capital		23,480						23,480
Lisa Gooch, Drawing	2,990						2,990
Fees Earned		43,620						43,620
Salary Expense	17,500		(c)	300			17,800
Supplies Expense			(a)	2,050			2,050
Depreciation Expense			(b)	1,220			1,220
Miscellaneous Expense	1,840						1,840
	75,880	75,880		3,570		3,570	77,400	77,400

Based on the preceding spreadsheet, prepare an income statement for Bamboo Consulting.

Bamboo Consulting
Income Statement
For the Year Ended July 31, 2019
		$fill in the blank 8651c70cf00506f_2
Expenses:
	$fill in the blank 8651c70cf00506f_4
	fill in the blank 8651c70cf00506f_6
	fill in the blank 8651c70cf00506f_8
	fill in the blank 8651c70cf00506f_10
Total expenses		fill in the blank 8651c70cf00506f_11
		$fill in the blank 8651c70cf00506f_13

Based on the preceding spreadsheet, prepare a statement of owner's equity for Bamboo Consulting.

Bamboo Consulting
Statement of Owner's Equity
For the Year Ended July 31, 2019
		$fill in the blank 87ffd9f4301bf7f_2
	$fill in the blank 87ffd9f4301bf7f_4
	fill in the blank 87ffd9f4301bf7f_6
		fill in the blank 87ffd9f4301bf7f_8
		$fill in the blank 87ffd9f4301bf7f_10

Based on the preceding spreadsheet, prepare a balance sheet for Bamboo Consulting.

Bamboo Consulting
Balance Sheet
July 31, 2019
Assets
Current assets:
	$fill in the blank f35d6f05ef8204e_2
	fill in the blank f35d6f05ef8204e_4
	fill in the blank f35d6f05ef8204e_6
Total current assets		$fill in the blank f35d6f05ef8204e_7
Property, plant, and equipment:
	$fill in the blank f35d6f05ef8204e_9
	fill in the blank f35d6f05ef8204e_11
Total property, plant, and equipment		fill in the blank f35d6f05ef8204e_12
Total assets		$fill in the blank f35d6f05ef8204e_13
Liabilities
Current liabilities:
	$fill in the blank f35d6f05ef8204e_15
	fill in the blank f35d6f05ef8204e_17
Total liabilities		$fill in the blank f35d6f05ef8204e_18
Owner's Equity
		fill in the blank f35d6f05ef8204e_20
Total liabilities and owner's equity		$fill in the blank f35d6f05ef8204e_21

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