Question

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 2018: Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 2018 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Cr. Dr. Cr. Dr. 15,730 15,730 37,460 37,460 3,970 (a) 3,330 640 30,340 30,340 (b) 1,990 6,150 4,160 10,110 10,110 (0) 490 490 Cash Accounts Receivable Supplies Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 12,000 26,210 12,000 26,210 4,870 4,870 71,360 71,360 28,470 490 28,960 (c) (a) (b) 3,330 3,330 1,990 1,990 3,000 3,000 123,840 123,840 5,810 5,810 126,320 126,320

Answer 1

Requirement | Statement of Retained Earnings Triton Consulting Statement of Retained Earnings For the Year Ended April 30, 2018 Particulars $ Retained Earnings, May 1, 2017 Net Income $ 34,080 Dividends $ 4,870 Change in Retained Earnings Retained Earnings, April 30, 2018 $ 26,210 $ $ $ 29,210 55,420 $ $ Requirement | Balance Sheet Triton Consulting Balance Sheet April 30, 2018 Particulars Assets Current Assets - Cash - Accounts Receivables - Supplies Total Current Assets A A A 15,730 37,460 640 $ 53,830 Property, plant and Equipment - Office Equipment - Less : Accumulated Depreciation Total Property, Plant and Equipment Total Assets $ $ 30,340 6,150 $ $ 24,190 78,020 Liabilities Current Liabilities : - Accounts Payables - Salaries Payables Total Liabilities $ $ 10,110 490 $ 10,600

- Common Stock - Retained Earnings Total Stockholders' Equity Stockholders' Equity $ $ 12,000 55,420 $ 67,420 Total Liabilities and Stockholders' Equity $ 78,020