Question

The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2014, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings was $145,000 at May 1, 2013, the beginning of the current year, and dividends of $40,000 were paid during the current year.


Instructions
1. Prepare an income statement for the current year ended April 30, 2014.
2. Prepare a retained earnings statement for the current year ended April 30, 2014.
3. Prepare a balance sheet as of April 30, 2014.
4. What item appears on both the income statement and retained earningsstatement?


$1.99
Sales2
Views462
Comments0
  • CreatedFebruary 28, 2014
  • Files Included
Post your question
5000