Démó ConsultingEnd-of-Period SpreadsheetFor the Year Ended August 31, 20Y9UnadjustedAdjustedTrial BalanceAdjustmentsTrial BalanceAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash10,25010,250Accounts Receivable24,40024,400Supplies2,5902,170420Land20,98020,980Office Equipment19,76019,760Accumulated Depreciation2,7101,2904,000Accounts Payable6,5906,590Salaries Payable320320Common Stock8,2008,200Retained Earnings16,69016,690Dividends3,1703,170Fees Earned66,97066,970Salary Expense18,06032018,380Supplies Expense2,1702,170Depreciation Expense1,2901,290Miscellaneous Expense1,9501,950101,160101,1603,7803,780102,770102,770 Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 20Y9, $3,200 of additionalcommon stock was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negativenumber using a minus sign.Demo ConsultingStatement of Stockholders' EquityFor the Year Ended August 31, 20Y9Common StockRetained EarningsTotalBalances, September 1, 20Y8 /$Issued common stock v3,200Net incomeDividends VBalances, August 31, 20Y9FeedbackV Check My WorkThe statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by anystock issued during the period, and retained earnings will be increased by any net income and decreased by any net losses and dividends.Based on the preceding spreadsheet, prepare a balance sheet for Demo Consulting.Demo ConsultingBalance SheetAugust 3120V9

The stockholders' equity section is the part of statement of financial position which is reported on…

End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,250 10,250 Accounts Receivable 24,400 24,400 Supplies 2,590 2,170 420 Land 20,980 20,980 Office Equipment 19,760 19,760 Accumulated Depreciation 2,710 1,290 4,000 Accounts Payable 6,590 6,590 Salaries Payable 320 320 Common Stock 8,200 8,200 Retained Earnings 16,690 16,690 Dividends 3,170 3,170 Fees Earned 66,970 66,970 Salary Expense 18,060 320 18,380 Supplies Expense 2,170 2,170 Depreciation Expense 1,290 1,290 Miscellaneous Expense 1,950 1,950 101,160 101,160 3,780 3,780 102,770 102,770

End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,250 10,250 Accounts Receivable 24,400 24,400 Supplies 2,590 2,170 420 Land 20,980 20,980 Office Equipment 19,760 19,760 Accumulated Depreciation 2,710 1,290 4,000 Accounts Payable 6,590 6,590 Salaries Payable 320 320 Common Stock 8,200 8,200 Retained Earnings 16,690 16,690 Dividends 3,170 3,170 Fees Earned 66,970 66,970 Salary Expense 18,060 320 18,380 Supplies Expense 2,170 2,170 Depreciation Expense 1,290 1,290 Miscellaneous Expense 1,950 1,950 101,160 101,160 3,780 3,780 102,770 102,770

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 2.3C

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