Question 1107268: Financial Statements
The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2019, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $47,520 at May 1, 2018, the beginning of the year, and the owner withdrew $25,200 during the year.
Accounts payable
$16,570
Accounts receivable
88,690
Cash
179,020
Fees earned
625,200
Miscellaneous expense
4,860
Rent expense
80,960
Supplies
7,710
Supplies expense
12,950
Taxes expense
10,000
Utilities expense
48,580
Wages expense
231,320
Required:
1. Prepare an income statement for the year ended April 30, 2019.
Wilderness Travel Service
Income Statement
For the Year Ended April 30, 2019
2. Prepare a statement of owner's equity for the year ended April 30, 2019.
Wilderness Travel Service
Statement of Owner's Equity
For the Year Ended April 30, 2019
3. Prepare a balance sheet as of April 30, 2019. When entering assets, enter them in order of liquidity.
Wilderness Travel Service
Balance Sheet
April 30, 2019
Answer by ikleyn(52880)   (Show Source):
You can put this solution on YOUR website! .
Hey, this is pure financial/accounting.
We are pure Math.
School Math.
Try to find another, more adequately appropriate site.
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