Prepare an income statement for the current year, Accounting Basics

The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below.  On April 1, 2010, the beginning of the current year,  Mr. Amos invested an additional RM25,000 in the business during the year.

Accounts Payable

RM       1,200

Miscellaneous Expense

RM    230

Accounts Receivable

RM     10,340

Office Expense

RM  1,240

Cash

RM     33,990

Office Equipment

RM  1,670

Fees Earned

RM   266,020

Wages Expense

RM23,550

Land

RM     47,000

Drawing

RM16,570

Building

RM   157,630

 

 

Required:

Prepare an Income Statement for the current year ended May 31, 2011

 

Posted Date: 3/26/2013 3:22:54 AM | Location : United States







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