Business, 05.02.2021 22:00 niescarlosj

The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $62,650 at May 1, 20Y4, the beginning of the year, and the owner withdrew $30,700 during the year. Accounts payable $25000
Accounts receivable 210,000
Cash 146,000
Fees earned 875,000
Miscellaneous expense 15,000
Rent expense 75,000
Supplies $9,000
Supplies expense 12,000
Taxes expense 10,000
Utilities 38,000
Wages expense 525,000

Required:
a. Prepare an income statement for the year ended April 30, 20Y5.
b. Prepare a statement of owner's equity for the year ended April 30, 20Y5.
c. Prepare a balance sheet as of April 30, 20Y5.
d. What item appears on both the income statement and statement of owner's equity?

Answers: 2

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The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of...

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