PR 1-2B Financial statements OBJ. 5 let income: 000 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 follow. The capital of Harper Borg, owner, was $180,000 at May 1, 2018, the beginning of the year, and the owner withdrew $40,000 during the year. Excel Accounts payable $ 25,000 $ 9,000 Supplies Supplies expense Accounts receivable 210,000 12,000 Cash 146,000 Taxes expense 10,000 Show Me How Fees earned 875,000 Utilities expense 38,000 Miscellaneous expense 15,000 Wages expense 525,000 Rent expense 75,000 Instructions 1. Prepare an income statement for the year ended April 30, 2019. 2. Prepare a statement of owner's equity for the year ended April 30, 2019. 3. Prepare a balance sheet as of April 30, 2019. 4. What item appears on both the income statement and statement of owner's equity?

PR 1-2B Financial statements OBJ. 5 let income: 000 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 follow. The capital of Harper Borg, owner, was $180,000 at May 1, 2018, the beginning of the year, and the owner withdrew $40,000 during the year. Excel Accounts payable $ 25,000 $ 9,000 Supplies Supplies expense Accounts receivable 210,000 12,000 Cash 146,000 Taxes expense 10,000 Show Me How Fees earned 875,000 Utilities expense 38,000 Miscellaneous expense 15,000 Wages expense 525,000 Rent expense 75,000 Instructions 1. Prepare an income statement for the year ended April 30, 2019. 2. Prepare a statement of owner's equity for the year ended April 30, 2019. 3. Prepare a balance sheet as of April 30, 2019. 4. What item appears on both the income statement and statement of owner's equity?

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Description: PR 1-2B Financial statementsOBJ. 5let income:000The 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 follow. The capital ofHarper Borg, owner, was $18

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

Problem 1.2BPR: Financial statements The amounts of the assets and liabilities of Wilderness Travel Service at April...

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