Question
In: Accounting
The revenues and expenses of adventure travel service for the year ended april 30,2019
The revenues and expenses of adventure travel service for the year ended april 30,2019
| Particulars | Amount$ |
| Fees earned | 2,180,000 |
| Office expense | 4,00,000 |
| Miscellaneous expense | 25,000 |
| Wages expense | 1,300,000 |
Prepare an income statement for the year ended april 30,2019
Solutions
Expert Solution
The Statement of Owner's Equity, also known as the Retained Earnings Statement, is a mandatory financial statement that shows the changes in equity for the current accounting period.
AT Service
Income Statement
For the year ended April 30,2019
| Fees earned | 21,80,000 | |
| Expenses | ||
| Wages Expense | $13,00,000 | |
| Office Expense | 4,00,000 | |
| Miscellaneous Expense | 25,000 | |
| Total Expenses | 17,25,000 | |
| Net income | $4,55,000 |
Therefore,income statement of AT service shows a net income of $4,55,000 for the year ended april 30,2019
balaji rao answered 2 years agoRelated Solutions
The revenues and expenses of sentinel travel service for the year ended august 31,2019 follows
The revenues and expenses of sentinel travel service for the year ended august 31,2019 followsParticularsAmount$Fees earned7,50,000Office expense2,95,000Miscellaneous expense12,000Wages expense4,50,000Prepare an income statement for the year ended august 31,2019
The revenues and expenses of sentinel travel agency service for the year ended August 31, follow
The revenues and expenses of sentinel travel agency service for the year ended August 31, follow
Particulars
Amount$
Fees earned
7,98,055
Office Expense
1,83,555
Miscellaneous expense
15,960
Wages Expense
3,83,065
Prepare a statement of owner's equity for the year ended august 31,2019. Barb Schroeder, the owner, invested an additional $47,900 in the business during the year and withdrew cash of $30,300 for personal use.Barb Schroeder,capital as of september1,2018 was $2,15,000
The balances of Adventure Travel Service’s accounting equation items for the year ended April 30, 2019,...
The balances of Adventure Travel Service’s accounting equation
items for the year ended April 30, 2019, are listed below. Jerome
Foley, the owner, invested an additional $36,600 in the business
during the year and withdrew cash of $16,600 for personal use.
Jerome Foley, capital as of May 1, 2018, was $390,000.
Accounts
Fees earned
$746,000
Office expense
295,500
Miscellaneous expense
10,300
Wages expense
450,000
Accounts payable
43,600
Accounts receivable
72,400
Cash
45,600
Land
320,900
Supplies
4,900
Prepare a balance sheet...
The balances of Adventure Travel Service’s accounting equation items for the year ended April 30, 2019,...
The balances of Adventure Travel Service’s accounting equation
items for the year ended April 30, 2019, are listed below. Jerome
Foley, the owner, invested an additional $60,000 in the business
during the year and withdrew cash of $40,000 for personal use.
Jerome Foley, capital as of May 1, 2018, was $1,020,000. Accounts
Fees earned $2,180,000 Office expense 400,000 Miscellaneous expense
25,000 Wages expense 1,300,000 Accounts payable 105,000 Accounts
receivable 485,000 Cash 197,000 Land 900,000 Supplies 18,000
Prepare a balance sheet...
A summary of cash flows for Adventure travale service for the year ended april 30,2019 follows,
A summary of cash flows for Adventure travale service for the year ended april 30,2019 follows,ParticularsAmount$Cash receipts: Cash received from customers20,80,000Cash received from additional investment of owner60,000Cash payments: Cash paid for operating expenses17,06,000Cash paid for land4,00,000Cash paid to owner for personal use40,000The cash balance as of may 1,2018 was $2,03,000Prepare a statement of cash flows for adventure Travel Service for the year ended April 30,2019
On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred...
On April 1, Jiro Nozomi created a new travel agency, Adventure
Travel. The following transactions occurred during the company’s
first month.
April
1
Nozomi invested
$41,000 cash and computer equipment worth $35,000 in the company in
exchange for common stock.
2
The company rented
furnished office space by paying $2,700 cash for the first month’s
(April) rent.
3
The company
purchased $1,500 of office supplies for cash.
10
The company paid
$2,300 cash for the premium on a 12-month insurance...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April
1
Nozomi invested $40,000 cash and computer equipment worth
$30,000 in the company.
2
The company rented furnished office space by paying $2,700 cash
for the first month’s (April) rent.
3
The company purchased $1,700 of office supplies for cash.
10
The company paid $2,300 cash for the premium on a 12-month
insurance policy. Coverage begins on...
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...
On April 1, 2017, Jiro Nozomi created a new travel agency,
Adventure Travel. The following transactions occurred during the
company’s first month.
April 1 Nozomi invested $39,000 cash and computer equipment
worth $35,000 in the company in exchange for common stock. 2 The
company rented furnished office space by paying $1,800 cash for the
first month’s (April) rent. 3 The company purchased $1,000 of
office supplies for cash. 10 The company paid $2,400 cash for the
premium on a 12-month...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Search the Internet to find (at least 2 websites) related to the general field of malware....
- Consider the following schema: Suppliers(sid, sname, address) Parts(pid, pname, color) Catalog(sid, pid, cost) write the following...
- Singh Development Co. is deciding whether to proceed with Project X. The cost would be $12...
- CS2123 Data Structures - Fall 2019 Assignment 1: Function Runtimes Table Due 9/11/19 by 11:59pm Completing...
- Question 2. Design a 16-1 MUX using any number of lower MUXs, such as 8-1 or...
- . Write a function that takes, as arguments, two objects, value1 and value2. If
- Wii Brothers, a game manufacturer, has a new idea for an adventure game. It can market...
ADVERTISEMENT