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Prepare an income statement for the current year

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Reference no: EM13535195

The assets and liabilities of Chickadee Travel Service at April 30, 2008, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner, Adam Cellini, was $80,000 at May 1, 2007, the beginning of the current year.

Accounts payable

$ 12,200

Miscellaneous expense

$ 12,950

Accounts receivable

31,350

Office expense

63,000

Cash

53,050

Supplies

3,350

Fees earned

263,200

Wages expense

131,700

Land

80,000

 

 

Prepare an income statement for the current year ended April 30, 2008.

Reference no: EM13535195

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