On April 1, 2020 Perfect company Ltd., a company thatprovides flying lessons, was started with an investment of 90000$ cash in the business. Following are the assets and liabilities ofthe company on April 31, 2020, and the revenues and expensesfor the month of April. (all amounts in thousands).Cash900042,580Accounts Receivable 7,420 Rent ExpenseNotes Payable W2,00051,000 Maintenance and Service RevenueEquipment13,600800 Advertising ExpenseRepairs Expense1000Gasoline Expense2,8005000 AccountsPayableUtilities Expense800Cars77000unearned revenue6000No additional investments were made in May, but the companypaid dividends of W 960 000 during the month.1. Prepare income statement, retained earnings statement &financial passion statement for the April month.

Name: On April 1, 2020 Perfect company Ltd., a company thatprovides flying
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Description: On April 1, 2020 Perfect company Ltd., a company thatprovides flying lessons, was started with an investment of 90000$ cash in the business. Following are the assets and liabilities ofthe company on April 31, 2020, and the revenues and expensesfor t

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On April 1, 2020 Perfect company Ltd., a company that provides flying lessons, was started with an investment of 90000 $ cash in the business. Following are the assets and liabilities of the company on April 31, 2020, and the revenues and expenses for the month of April. (all amounts in thousands). Cash 9000 Notes Payable W 42,580 Accounts Receivable 7,420 Rent Expense 2,000 Equipment 13,600 800 Advertising Expense 51,000 Maintenance and Service Revenue Repairs Expense 1000 Gasoline Expense 2,800 5000 Accounts Payable Utilities Expense 800 Cars 77000 unearned revenue 6000 No additional investments were made in May, but the company paid dividends of W 960 000 during the month. 1. Prepare income statement, retained earnings statement & financial passion statement for the April month.

On April 1, 2020 Perfect company Ltd., a company that provides flying lessons, was started with an investment of 90000 $ cash in the business. Following are the assets and liabilities of the company on April 31, 2020, and the revenues and expenses for the month of April. (all amounts in thousands). Cash 9000 Notes Payable W 42,580 Accounts Receivable 7,420 Rent Expense 2,000 Equipment 13,600 800 Advertising Expense 51,000 Maintenance and Service Revenue Repairs Expense 1000 Gasoline Expense 2,800 5000 Accounts Payable Utilities Expense 800 Cars 77000 unearned revenue 6000 No additional investments were made in May, but the company paid dividends of W 960 000 during the month. 1. Prepare income statement, retained earnings statement & financial passion statement for the April month.

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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