Question 1.4: Income Statement The revenues and expenses of Chickadee Trav......
Income Statement
The revenues and expenses of Chickadee Travel Service for the year ended April 30, 2012, are listed below.
Fees earned $263,200
Miscellaneous expense 12,950
Office expense 63,000
Wages expense 131,700
Prepare an income statement for the current year ended April 30, 2012.
Chickadee Travel Service
Income Statement
For the Year Ended April 30, 2012
Fees earned ………………………………………………….. $ 263,200
Expenses:
Wages expense ………………………………………….. $ 131,700
Office expense ……………………………………………. 63,000
Miscellaneous expense ……………………………. \underline{12,950}
Total expenses …………………………………………….. \underline{207,650}
Net income …………………………………………………… \underline{\$ 55,550}