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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

ParticularsAmount$
Fees earned 2,180,000
Office expense4,00,000
Miscellaneous expense25,000
Wages expense1,300,000

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 3 years ago
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