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4 Accounts Payable 5 Accounts Receivable 6 Aircraft Fuel Expense $4,650 580 8,700 7 Cash 8 Common Stock 2,970 1,220 9 Dividends 0 Equipment 1 Income Tax Expense 2 Interest Expense 20 14,370 260 130 3 Landing Fees Expense 3,100 4 Notes Payable 6,950 5 Repairs and Maintenance Expense 1,200 6 Retained Earnings (as of December 31) 5,780 7 Salaries and Wages Expense 3,280 8 Supplies 680 9 Ticket Revenues 17,100 20 1 Required: 2 1. Prepare an income statement for the year ended December 31. 3 (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) 4 (All numbers should appear as positive numbers.) 25 26 27 8) 9 NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions) 0 Revenues 1 Ticket Revenues 2 3 Total Revenues 4 Expenses 5 Aircraft Fuel Expense 6 income Tax Expense 7 interest Expense $17,100 17,100 8,700 260 130 8 Landing Fees Expense 3,100 9 Repairs and Maintenance Expense 1,200 A Graded Worksheet +

4 Accounts Payable 5 Accounts Receivable 6 Aircraft Fuel Expense $4,650 580 8,700 7 Cash 8 Common Stock 2,970 1,220 9 Dividends 0 Equipment 1 Income Tax Expense 2 Interest Expense 20 14,370 260 130 3 Landing Fees Expense 3,100 4 Notes Payable 6,950 5 Repairs and Maintenance Expense 1,200 6 Retained Earnings (as of December 31) 5,780 7 Salaries and Wages Expense 3,280 8 Supplies 680 9 Ticket Revenues 17,100 20 1 Required: 2 1. Prepare an income statement for the year ended December 31. 3 (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) 4 (All numbers should appear as positive numbers.) 25 26 27 8) 9 NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions) 0 Revenues 1 Ticket Revenues 2 3 Total Revenues 4 Expenses 5 Aircraft Fuel Expense 6 income Tax Expense 7 interest Expense $17,100 17,100 8,700 260 130 8 Landing Fees Expense 3,100 9 Repairs and Maintenance Expense 1,200 A Graded Worksheet +

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4 Accounts Payable 5 Accounts Receivable 6 Aircraft Fuel Expense $4,650 580 8,700 7 Cash 8 Common Stock 2,970 1,220 9 Dividends 0 Equipment 1 Income Tax Expense 2 Interest Expense 20 14,370 260 130 3 Landing Fees Expense 3,100 4 Notes Payable 6,950 5 Repairs and Maintenance Expense 1,200 6 Retained Earnings (as of December 31) 5,780 7 Salaries and Wages Expense 3,280 8 Supplies 680 9 Ticket Revenues 17,100 20 1 Required: 2 1. Prepare an income statement for the year ended December 31. 3 (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) 4 (All numbers should appear as positive numbers.) 25 26 27 8) 9 NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions) 0 Revenues 1 Ticket Revenues 2 3 Total Revenues 4 Expenses 5 Aircraft Fuel Expense 6 income Tax Expense 7 interest Expense $17,100 17,100 8,700 260 130 8 Landing Fees Expense 3,100 9 Repairs and Maintenance Expense 1,200 A Graded Worksheet +
Transcribed Image Text:4 Accounts Payable 5 Accounts Receivable 6 Aircraft Fuel Expense $4,650 580 8,700 7 Cash 8 Common Stock 2,970 1,220 9 Dividends 0 Equipment 1 Income Tax Expense 2 Interest Expense 20 14,370 260 130 3 Landing Fees Expense 3,100 4 Notes Payable 6,950 5 Repairs and Maintenance Expense 1,200 6 Retained Earnings (as of December 31) 5,780 7 Salaries and Wages Expense 3,280 8 Supplies 680 9 Ticket Revenues 17,100 20 1 Required: 2 1. Prepare an income statement for the year ended December 31. 3 (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) 4 (All numbers should appear as positive numbers.) 25 26 27 8) 9 NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions) 0 Revenues 1 Ticket Revenues 2 3 Total Revenues 4 Expenses 5 Aircraft Fuel Expense 6 income Tax Expense 7 interest Expense $17,100 17,100 8,700 260 130 8 Landing Fees Expense 3,100 9 Repairs and Maintenance Expense 1,200 A Graded Worksheet +
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