Question

The accounting records of JetAway Airlines reveal the following. The fiscal year ends on September 30 and amounts are in thousands of US$:


a. Prepare a comparative balance sheet for JetAway Airlines as of September 30, 2013, and September 30, 2012, in the format used in Exhibit 1.1.
Classify each balance sheet item into one of the following categories: current assets, noncurrent assets, current liabilities, noncurrent liabilities, and shareholders’ equity.
b. Prepare an income statement for JetAway Airlines for the year ended September 30, 2013.
c. Prepare a schedule explaining the change in retained earnings between September 30, 2012, and September 30, 2013. JetAway declared and paid dividends during fiscal2013.


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  • CreatedMarch 04, 2014
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