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.
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Olympia Consulting
End-of-Period Spreadsheet
For the Year Ended April 30, 2014
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Unadjusted
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Adjusted
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Trial Balance
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Adjusted
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Trial Balance
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Account Title
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Dr.
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Cr.
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Dr.
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Cr.
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Dr.
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Cr.
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Cash
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27,500
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27,500
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Accounts Receivable
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53,500
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53,500
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Supplies
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3,000
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(a) 1,800
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1,200
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Office Equipment
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30,500
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30,500
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Accumulated Depreciation
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4,500
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(b) 750
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5,250
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Accounts Payable
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3,300
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3,300
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Salaries Payable
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(c ) 450
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450
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Capital Stock
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30,000
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30,000
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Retained Earnings
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52,200
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52,200
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Dividends
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2,000
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2,000
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Fees Earned
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60,000
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60,000
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Salary Expense
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32,000
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32,450
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Supplies Expense
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1,800
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Depreciation Expense
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750
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Miscellaneous Expense
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1,500
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1,500
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150,000
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150,000
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3,000
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3,000
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151,200
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151,200
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Based on the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Olympia Consulting.