Pr 1- 2 B Financial Statement_ St Simon Travel Service

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Description

Pr 1- 2 B Financial Statement_ St Simon
Travel Service

The amounts of the assets and Liabilities
of St Simon Travel Service are listed as of June 30, 2012, the end of the
current year, and its revenues and expenses for the year are listed below. The
capital of Gwen Perez, owner, was $ 150,000 at July 1, 2011, the beginning of
the current year, and the owner withdrew
$ 30,000 during the current year.

Account payable $ 25,000 Supplies
$ 12,000

Accounts receivable $ 90000 Supllies expense $ 10,000

Cash $
123000 Taxes expenses 8000

Fees earned $ 500,000 Utilites expenses $ 36,000

Miscellaneous expenses $ 11,000 Wages expenses $ 280,000

Rent expense $ 75,000

Then instructions 1 to 4 , that is
readable.

1.
Prepare an income statement for
the current year ended June 30, 2012

2.
Prepare a statement of owner’s
equity for the current year ended june
30, 2012.

3.
Prepare a balance sheet as of
June 30, 2012

4.
What item appears on both the
income statement and statement of owner’s equity?

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