Using the data attached, I need help with the following question: Calculate an accrual-basis income statement for the 6 months ended April 30, 2022.
Pharoah Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022. CashReceipts CashPayments Issuance of common shares $20,800 Payment to purchase repair shop equipment $9,060 Rent payments to landlord 1,260 Newspaper advertising payment 390 Utility bill payments 940 Part-time helper's wage payments 2,750 Income tax payment 10,100 Cash receipts from ski and snowboard repair services 31,300 Subtotals 52,100 24,500 Cash balance 27,600 Totals $52,100 $52,100 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The parttime helper is owed $455 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Pharoah Company $460 for services they have received but have not yet paid for. Safari File Edit View History Bookmarks Develop Window Help M 84% Sun 5:21 PM QE . . . A edugen.wileyplus.com C + WileyPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Prepare an accrual-basis income statement for the 6 months ended April 30, 2022. GB518 Excel Track Module 1 Competency Assessment Part 3 - PHAROAH COMPANY COMPETENCY Income Statemen Brief Exercise 3-06 For the Six Months Ended April 30, 2022 Question 06 Brief Exercise 4-18 Exercise 4-06 Review Score Review Results by Study + Objective $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the April 30, 2022, classified balance sheet. (List Current Assets in order of liquidity.) PHAROAH COMPANY Balanan Chank NOV 1 15 X LSafari File Edit View History Bookmarks Develop Window Help M 84% Sun 5:21 PM QE . . . A edugen.wileyplus.com C + WileyPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES PHAROAH COMPANY GB518 Excel Track Balance Sheet Module 1 Competency Assessment Part 3 - + COMPETENCY Assets Brief Exercise 3-06 Question 06 Brief Exercise 4-18 Exercise 4-06 $ Review Score Review Results by Study Objective + $ $ Liabilities and Stockholders' Equity $ $ $ NOV 15 ... 4Safari File Edit View History Bookmarks Develop Window Help M 84% Sun 5:21 PM QE . . . A edugen.wileyplus.com C + WileyPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES GB518 Excel Track Module 1 Competency Assessment Part 3 - COMPETENCY Brief Exercise 3-06 Question 06 Brief Exercise 4-18 Exercise 4-06 Review Score $ Review Results by Study Liabilities and Stockholders' Equity Objective $ $ Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Question Attempts: Unlimited SAVE FOR LATER NON 15
