Question

- 1. EX 04.01 2. EX.04.03 ALGO 3. EX.04.05A.CO 4. EX.04.14 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting, Demo Consulting Income Statement For the Year Ended August 31, 2049 Fees earned Expenses: Salary expense 5. EX.04.17 6. EX.04.20 Supplies expense 7. EX.04.06 EXCEL ALGO Depreciation expense Miscellaneous expense Total expenses Net income Check My Work Revenue and expense accounts flow into the income statement. Based on the preceding spreadsheet, prepare a statement of stockholders' equity for Demo Consulting. During the year ended August 31, 209, $2,500 1 Type here to search RI AGA 4X ENG 1:06 PM 9/20/2020

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Answer 1

Demo Consulting Income Slatement Fees earned $51,470 Expenses Salanies Expense Supplies Expense Deprivation Expense Miscellaneous Expense Total Expenses $14,250 $ 1660 $990 $ 1,490 -$18390 Net Income $33,080

Demo Consulting Statement of Stockholders Equity Stock Earning $6,300 $12,750 $19,050 $ 2,500 Issued Common Stock Common Retamed Tolal Balance, September 1, 2018 $2,500 Net Income $33,080 $33,080 Dividend - $2,430 - $2,430 Balance, August 31, 2019 $8,807 $43,400 $ 52,200

Demo Consulting Balance Sheet ahsets Current Assets Cash (1850+2500) Accounts Receivable Supplies Toral Curenent Asset $10,350 $18,680 $320 $29, 350 $16,060 Property, Plant & Equipment Land Office Equipment $15,30 Accumulated Dep. Book-value office Equipment Total Property, Plant & Equipment $3,060 $12,070 $ 29,130 Total Asset $57,480

Demo Consulting Balance Sheet Liabilities Corrent Liabilities dccounts Payables Salauies Paypble Total Liabilities $5040 $240 $5,280 Stock holder's Equity Common Stock $8,800 $ 43,400 $52,200 Retained Earning Total Stockholder Equity Total liability & Stockholder's Equity $57,480