Accounting Homework Help Accounting Assignment Hel1.docx

Accounting Homework Help Accounting Assignment Help, Accounting Question Answers Income Statement, Retained Earnings Statement, and Balance Sheet The amounts of the assets and liabilities of Glacier Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150,000, and the common stock was $50,000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10,000 were paid during the current year. Accounts payable

$175,000

Accounts receivable

321,000

Cash

166,000

Common stock

70,000

Fees earned

900,000

Miscellaneous expense

$37,000

Rent expense

180,000

Supplies

13,000

Supplies expense

38,000

Taxes expense

30,000

Utilities expense

75,000

Wages expense

425,000

Instructions: 1. Prepare an income statement for the current year ended September 30, 20Y6. Glacier Travel Service Income Statement For the Year Ended September 30, 20Y6 $ Operating expenses: $

Total operating expenses $ 2. Prepare a statement of stockholders’ equity for the current year ended September 30, 20Y6. If an amount is zero, enter "0". Glacier Travel Service Statement of Stockholders’ Equity For the Year Ended September 30, 20Y6 Common Stock

Retained Earnings

Total

Balances, Oct. 1, 20Y5

$

$

$

Balances, Sept. 30, 20Y6

$

$

$

3. Prepare a balance sheet as of September 30, 20Y6. Glacier Travel Service Balance Sheet September 30, 20Y6 Assets $

Total assets

$

Liabilities $

Stockholders' Equity $

Total liabilities and stockholders' equity

$