Problem - Financial Statements from the End-of-Period Spreadsheet
Pacifica Consulting is a consulting firm owned and operated by Tara Milsap. The end-of-period spreadsheet shown below was prepared for the year ended August 31, 2012.
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Pacifica Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2012
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Unadjusted
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Adjusted
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Trial Balance
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Adjustments
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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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10,310
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10,310
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Accounts Receivable
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24,550
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24,550
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Supplies
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2,600
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(a)
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2,180
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420
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Office Equipment
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20,380
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20,380
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Accumulated Depreciation
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2,730
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(b)
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1,300
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4,030
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Accounts Payable
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6,630
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6,630
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Salaries Payable
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(c)
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320
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320
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Capital Stock
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8,300
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8,300
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Retained Earnings
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16,740
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16,740
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Dividends
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3,190
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3,190
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Fees Earned
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47,250
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47,250
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Salary Expense
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18,660
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(c)
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320
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18,980
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Supplies Expense
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(a)
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2,180
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2,180
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Depreciation Expense
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(b)
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1,300
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1,300
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Miscellaneous Expense
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1,960
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1,960
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81,650
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81,650
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3,800
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3,800
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83,270
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83,270
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Required -
Based on the preceding spreadsheet, prepare an income statement.
Based on the preceding spreadsheet, prepare a retained earnings statement.
Based on the preceding spreadsheet, prepare a balance sheet.