Income StatementThe revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:Fees earned$958,865Office expense220,540Miscellaneous expense19,175Wages expense460,255Prepare an income statement for the year ended August 31, 2019.Sentinel Travel ServiceIncome StatementFor the Year Ended August 31, 2019  $Expenses:  $     Total expenses   $

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Asked Oct 27, 2019
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Income Statement
The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:
Fees earned
$958,865
Office expense
220,540
Miscellaneous expense
19,175
Wages expense
460,255

Prepare an income statement for the year ended August 31, 2019.
Sentinel Travel Service
Income Statement
For the Year Ended August 31, 2019

 

 

$
Expenses:

 

 


$

 

 

 

 

 


Total expenses

 

 

 

$

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Expert Answer

Step 1

Prepare an income ...

Income Statement
For the year ended August 31,2019
Amount
$958,865
Particulars
Fees Earned
Less: Expenses:
Office expense
Wages expense
Miscellaneous expense
Total expenses
$220,540
$19,175
$460,255
$699,970
$258,895
Net income
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Income Statement For the year ended August 31,2019 Amount $958,865 Particulars Fees Earned Less: Expenses: Office expense Wages expense Miscellaneous expense Total expenses $220,540 $19,175 $460,255 $699,970 $258,895 Net income

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