The assets and liabilities of express travel service

Assignment Help Accounting Basics
Reference no: EM131126176

The assets and liabilities of Express Travel Service at June 30, 2010, the end of the current year, and its revenue and expenses for the year are listed at the top of the following page. The capital of the owner, Janis Paisley, was $125,000 at July 1, 2009, the beginning of the current year.

Accounts payable $ 12,000
Miscellaneous expense $ 8,000
Accounts receivable 32,000
Office expense 111,000
Cash 78,000
Supplies 6,000
Fees earned 475,000
Wages expense 239,000
Land 150,000

Prepare an income statement for the current year ended June 30, 2010. 

Reference no: EM131126176

Questions Cloud

Compare two versions of the same article by an author : Read the two (2) versions of the article titled: "The Objectification of Women. Whose Fault Is it?" by Santi DeRosa in Chapter 8. Identify the thesis statement of each version. Summarize the second or final version.
Calculate the mass of steam : A heat exchanger is used to warm apple cider using steam as the heat source. - Calculate the mass of steam required to heat 150 kg of cider.
Using the data for impeccable travel service : Using the data for Impeccable Travel Service shown in Practice Exercise 1-4A, prepare a statement of owner's equity for the current year ended November 30, 2010.
Provide a preliminary thesis statement : Read through the list of research topics (located in the Appendix), or by clicking the link here, on which to write a research paper. Select three (3) topics that interest you most and identify two (2) credible sources for each topic. Note:
The assets and liabilities of express travel service : The assets and liabilities of Express Travel Service at June 30, 2010, the end of the current year, and its revenue and expenses for the year are listed at the top of the following page.
How plan to conduct your analysis: distribution and pattern : How you plan to conduct your analysis: distribution, pattern/ relationship and model construction. What techniques do you think you will use? How to plan to apply the model. What are the possible uncertainties?
Describe the inward forces of elastic recoil : Describe the inward forces of elastic recoil, and explain why the lungs do not normally collapse during expiration. Describe and explain the effects of smoking on the functioning of the respiratory system
The assets and liabilities of impeccable travel service : The assets and liabilities of Impeccable Travel Service at November 30, 2010, the end of the current year, and its revenue and expenses for the year are listed below.
Yukon delivery service is owned and operated by betty pasha : Yukon Delivery Service is owned and operated by Betty Pasha. The following selected transactions were completed by Yukon Delivery Service during June:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Ruby corporation''s stock dividend

Using the same facts as in RE17-9, assume instead that Ruby declares and issues a 50% stock dividend when the stock is selling for $30 per share. Prepare the journal entry on the date of declaration to record Ruby Corporation's stock dividend.

  A lifo inventory system

What are the advantages and disadvantages of using a LIFO inventory system?

  Prepare in general journal form all journal entries that

the city of mcneely sold bonds in the amount of 10000000 to finance the construction of a public health center.the

  Suppose that your learning team is group of international

suppose that your learning team is group of international reporters. youve been tasked with describing and critiquing

  When matlock would actually earn

Assume you are Lan. Explain to Pat why Matlock has a liability and when Matlock would actually earn the $150,000.

  Compute earth company s total overhead varianc

Computation of total overhead rate and total overhead variance Earth Company expects to operate at 80% of its productive capacity of 25,000 units per month. At this planned level, the company expects to use 40,000 standard hours of direct labor.

  What are swaps

Question 1: What are swaps? How can they be used by a corporation?

  Caluculate the amount of dividends

Clifford Company's comparative balance sheet included dividends payable of $80,000 at December 31, 2009, and $100,000 at December 21, 2010. Dividends declared by Clliford during 2010 amounted to $400,000. 1) Caluculate the amount of dividends actu..

  How much would income from operations increase if

for a recent year wicker co. owned a restaurants that had the following sales amp expenses.sales 17700food amp

  Oslo company prepared the following contribution format

oslo company prepared the following contribution format income statement based on a sales volume of 1000 units the

  So for variance analysis is flexible budget variance the

so for variance analysis is flexible budget variance the same thing as total variance? since flexible budget variance

  Economic value added for the current situation

Accurately computes the return on investment, economic profit, and economic value added for the current situation. (Assume that the after-tax cost of capital is 8%. The formulas used in your calculations must be included.)

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd