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  • Kelompok 6 Financial Statements

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    Raissa Camilla Maringka
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    The document contains 3 financial statements for Heavenly Travel Service for the year ended April 30, 2010: 1) The income statement shows fees earned of $600,000 and expenses of $391,140, resulting in net income of $208,860. 2) The statement of owner's equity shows owner capital of $45,540 at the start plus net income of $208,860, less withdrawals of $25,000, increasing owner's equity by $229,400 to $229,400. 3) The balance sheet lists total assets of $244,000, including cash, accounts receivable, and supplies, and total liabilities and owner's equity of $244,000, including accounts

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    The document contains 3 financial statements for Heavenly Travel Service for the year ended April 30, 2010: 1) The income statement shows fees earned of $600,000 and expenses of $391,140, resulting in net income of $208,860. 2) The statement of owner's equity shows owner capital of $45,540 at the start plus net income of $208,860, less withdrawals of $25,000, increasing owner's equity by $229,400 to $229,400. 3) The balance sheet lists total assets of $244,000, including cash, accounts receivable, and supplies, and total liabilities and owner's equity of $244,000, including accounts

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    10 views4 pages

    Kelompok 6 Financial Statements

    Uploaded by

    Raissa Camilla Maringka
    The document contains 3 financial statements for Heavenly Travel Service for the year ended April 30, 2010: 1) The income statement shows fees earned of $600,000 and expenses of $391,140, resulting in net income of $208,860. 2) The statement of owner's equity shows owner capital of $45,540 at the start plus net income of $208,860, less withdrawals of $25,000, increasing owner's equity by $229,400 to $229,400. 3) The balance sheet lists total assets of $244,000, including cash, accounts receivable, and supplies, and total liabilities and owner's equity of $244,000, including accounts

    Copyright:

    © All Rights Reserved
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    Flag for inappropriate content
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    of 4

    KELOMPOK 6

    Tugas Prinsip
    Akuntansi
    Financial Statements
    -Kainama, Ronaldo -Kailola, Lewi -Awuy, Albert
    -Maringka, Rodney
    The amounts of the assets and liabilities of Heavenly Travel Service

    1) Heavenly Travel Service


    Income Statement
    For the Current Year Ended April 30, 2010

    Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    $600,000

    Expenses:

    Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    $5,000
    Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    80,900
    Supplies Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    13,200
    Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    49,150
    Wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    232,640
    Taxes Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    10,250
    Total Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    391,140
    Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    $208,860

    2) Heavenly Travel Service


    Statement of Owners Equity
    For the Current Year Ended
    April 30, 2010

    Jennifer Burch, capital, April 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


    $ 45,540
    Net Income for April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    208,860

    $254,400
    Less withdrawals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    25,000
    Increase in owners equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    229,400
    Jennifer Burch, capital, April 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    $229,400

    3) Heavenly Travel Service


    Balance
    Sheet
    April 30, 2010

    Assets
    Liabilities
    Cash . . . . . . . . . . . . . . . . . . . . . . . $ 159,200 Accounts
    Payable . . . . . . . . . . . . . . . $ 14,600
    Account Receivable . . . . . . . . . . 78,000 Owners
    Equity
    Supplies . . . . . . . . . . . . . . . . . . . . 6,800 Jennifer Burch, capital . . .
    ........ 229,400
    Total assets . . . . . . . . . . . . . . . . . $244,000 Total Liability and
    Owner's Equity . . $244,000

    Doug Van Buren established Ohm Computer Services

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