Question

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 $55,180 at May 1, 2018, the beginning of the year, and the owner withdrew $25,900 during the year. Accounts payable Accounts receivable $19,560 104,700 211,350 Cash Fees earned 726,100 Miscellaneous expense 5.540 Rent expense 94,030 Supplies 9.100 Supplies expense 15,040 Taxes expense 10,000 Utilities expense 56.420 Wages expense 268.560 Required: 1. Prepare an income statement for the year ended April 30, 2019 < Previous Next) CedMy Work more Che e se

Answer 1

Wilderness Travel Service Income statement for the year Ended & April 30, 2019 fees earned $726,100 L Expenses: wages expense & 268,660 Rent expense $ 94,030 Utilities expense $56,420 Supplies expense $15, oho Taxy еxреrе $ 10,000 Miscellaneous expense $ 5,640 less: Total expenses & 449,790 Net Income $276,310 12) Wilderness Travel Service statement of Owner's equity for the year Ended April 30, 2019 Harper Borg, capital, May 1, 2018 $55, 180 Met income for the year $276,310 Less: withdrawals Increase in owner's equity $250,410 Harper Borg, capital, April 30, 2019 $305, 5go $ 25, goo

Wilderness Travel service Balance sheet April 30, 2019 Assets $211,350 $ 104,700 $ 9, 100 $325, 150 Cash Accounts receivable Supplies Total assets Liabilities Accounts payable Owner's Equity Harper Borg, capital liabilities and owner's equity. $19,560 $305,590 $325,150 Total Harper Borg, capital