The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $62,650 at May 1, 20Y4, the beginning of the year, and the owner withdrew $30,700 during the year. Accounts payable $25000
Accounts receivable 210,000
Cash 146,000
Fees earned 875,000
Miscellaneous expense 15,000
Rent expense 75,000
Supplies $9,000
Supplies expense 12,000
Taxes expense 10,000
Utilities 38,000
Wages expense 525,000

Required:
a. Prepare an income statement for the year ended April 30, 20Y5.
b. Prepare a statement of owner's equity for the year ended April 30, 20Y5.
c. Prepare a balance sheet as of April 30, 20Y5.
d. What item appears on both the income statement and statement of owner's equity?

If a bond is issued at a premium the effective interest rate is most likely

Eileen's elegant earrings produces pairs of earrings for its mail order catalogue business. each pair is shipped in a separate box. she rents a small room for $150 a week in the downtown business district that serves as her factory. she can hire workers for $275 a week. there are no implicit costs. what is the marginal product of the second worker?

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.