Question
he amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2019, the end of the year, and its revenue and expenses
he 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 are listed below. The capital of Harper Borg, owner, was $59,090 at May 1, 2018, the beginning of the year, and the owner withdrew $31,300 during the year. Accounts payable $19,940 Accounts receivable 106,770 Cash 215,530 Fees earned 777,500 Miscellaneous expense 6,200 Rent expense 103,410 Supplies 9,280 Supplies expense 16,550 Taxes expense 10,000 Utilities expense 62,040 Wages expense 295,450 Required: 1. Prepare an income statement for the year ended April 30, 2019. Wilderness Travel Service Income Statement For the Year Ended April 30, 2019 $ Expenses: $ Total expenses $ 2. Prepare a statement of owner's equity for the year ended April 30, 2019. Wilderness Travel Service Statement of Owner's Equity For the Year Ended April 30, 2019 $ $ $ 3. Prepare a balance sheet as of April 30, 2019. When entering assets, enter them in order of liquidity. Wilderness Travel Service Balance Sheet April 30, 2019 Assets $ Total assets $ Liabilities $ Owner's Equity Total liabilities and owner's equity $ 4. What item appears on both the statement of owner's equity and the balance sheet?
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