Financial Statements from the End-of-Period SpreadsheetTriton 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, 20Y3:Triton ConsultingEnd-of-Period SpreadsheetFor the Year Ended April 30, 20Y3UnadjustedAdjustedTrial BalanceAdjustmentsTrial BalanceAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash16,09016,090Accounts Receivable38,30038,300Supplies4,0603,410650Office Equipment31,02031,020Accumulated Depreciation4,2502,0306,280Accounts Payable10,34010,340Salaries Payable500500Common Stock13,00013,000Retained Eamings26,07026,070Dividends4,9804,980Fees Earned72,19072,190Salary Expense28,34050028,840Supplies Expense3,4103,410Depreciation Expense2,0302,030Miscellaneous Expense3,0603,060125,850125,8505,9405,940128,380128,380Based on the preceding spreadsheet, prepare an income statement for Triton Consulting.Triton ConsultingIncome StatementFor the Year Ended April 30, 20Y3Fees earned v72,190Expenses:Salary expense v28,840Supplies expense3,410Depreciation expense2,030Miscellaneous expense3,060Total expenses37,340VNet income v34.850 Based on the preceding spreadshoet, prepare a statement of stockholders equity for Tritan Consulting. During the year ended April 30, 20Y3, commmon stock of s4,000 mas issued. If an amount box does not reguire an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minui sign.Triton ConsultingStatement of Stockholders' EquityFor the Year Ended April 30, 20YSCommon Stock Retained EarningsTotalBalances, May 1, 20Y2Issued commen stock v4.0004,000 VNet income v34,S0Dividends vBalances, April 30, 20Y3FeadtTCheMyWarkThe statement of stockholders' equity shows the beginning balances of common stock and retained earnings. The common stock balance will be increased by any stock issued during the periad, and retained eanings 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 Triton ConsultingTriton ConsultingBalance SheetApril 30, 20Y3AssetsCurrent assets:Cash16.00Accounts receivableJ00SuppliesTotal current asetsd 55.040Property, plant, and equipment:Office equipmant31,020Accumulated depreciationTotal property, plant, and equipment24,740Total assets78,70LiabiitieCurrent liabilities:Accounts payable vS10,140 vSalaries payableso0VTotal kabiltiesStockholders' Equity13.000Common stockRetained earningsTotal stockholders equityTotal habilities and stockholders' equity

Stockholder's equity shows the excess amount of assets over liabilities during an accounting year.…

Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 16,090 16,090 Accounts Receivable 38,300 38,300 Supplies 4,060 3,410 650 Office Equipment 31,020 31,020 Accumulated Depreciation 4,250 2,030 6,280 Accounts Payable 10,340 10,340 Salaries Payable 500 500 Common Stock 13,000 13,000 Retained Eamings 26,070 26,070 Dividends 4,980 4,980 Fees Earned 72,190 72,190 Salary Expense 28,340 500 28,840 Supplies Expense 3,410 3,410 Depreciation Expense 2,030 2,030 Miscellaneous Expense 3,060 3,060 125,850 125,850 5,940 5,940 128,380 128,380

Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 16,090 16,090 Accounts Receivable 38,300 38,300 Supplies 4,060 3,410 650 Office Equipment 31,020 31,020 Accumulated Depreciation 4,250 2,030 6,280 Accounts Payable 10,340 10,340 Salaries Payable 500 500 Common Stock 13,000 13,000 Retained Eamings 26,070 26,070 Dividends 4,980 4,980 Fees Earned 72,190 72,190 Salary Expense 28,340 500 28,840 Supplies Expense 3,410 3,410 Depreciation Expense 2,030 2,030 Miscellaneous Expense 3,060 3,060 125,850 125,850 5,940 5,940 128,380 128,380

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 5PB: Financial information for Lighthizer Trading Company for the fiscal year-ended September 30, 20xx,...

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