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Nat2105 [25]
3 years ago
5

The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue a

nd expenses for the year are listed below. The capital of Harper Borg, owner, was $62,570 at May 1, 20Y4, the beginning of the year, and the owner withdrew $33,800 during the year.
Accounts payable $18,970
Accounts receivable 101,580
Cash 205,040
Fees earned 712,700
Miscellaneous expense 5,540
Rent expense 92,300
Supplies 8,830
Supplies expense 14,770
Taxes expense 10,000
Utilities expense 55,380
Wages expense 263,700


Required:
Prepare an income statement for the year ended April 30, 20Y5.
Business
1 answer:
Gelneren [198K]3 years ago
4 0

The income statement for the year ended April 30, 20Y5 is $271,010.

<h3>Income statement:</h3>

Wilderness Travel Service income statement for the year ended April 30, 20Y5

Revenue:

Fees earned $712,700

Expenses:

Miscellaneous expense $5,540

Utilities expense $55,380

Supplies expense $14,770

Rent expense $92,300

Taxes expense $10,000

Wages expense $263,700

Total expenses $441,690

Net income $271,010

($712,700-$441,690)

Inconclusion the income statement for the year ended April 30, 20Y5 is $271,010.

Learn more about income statement here:brainly.com/question/24498019

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For computing the inflation rate first we have to determine the price index for 2011 which is shown below:

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