Financial statements The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $145,000 at May 1, 2017, the beginning of the year, and dividends of $40,000 were paid during the year. 11eb79a5_9784_f63a_bf8a_771980af4bcc_SM1598_00 Instructions 1. Prepare an income statement for the year ended April 30, 2018. 2. Prepare a retained earnings statement for the year ended April 30, 2018. 3. Prepare a balance sheet as of April 30, 2018. 4. What item appears on both the income statement and retained earnings statement?

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

النسخة 14الرقم المعياري الدولي: 978-1305653535

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

النسخة 14الرقم المعياري الدولي: 978-1305653535

تمرين 5

Financial statements
The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $145,000 at May 1, 2017, the beginning of the year, and dividends of $40,000 were paid during the year.

Instructions
1. Prepare an income statement for the year ended April 30, 2018.
2. Prepare a retained earnings statement for the year ended April 30, 2018.
3. Prepare a balance sheet as of April 30, 2018.
4. What item appears on both the income statement and retained earnings statement?

التوضيح

موثّق

Financial Statements: The statements tha...