Financial Accounting: P1-2B The amounts of the assets and Liabilities of St Simon Travel Service

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Financial Accounting
P1-2B
The amounts of the assets and Liabilities of St Simon Travel Service are listed as of June 30, 2012, the end of the current year, and its revenues and expenses for the year are listed below. The capital of Gwen Perez, owner, was $ 150,000 at July 1, 2011, the beginning of the current year, and the owner withdrew $ 30,000 during the current year.
Account payable 25,000 Supplies 12,000
Accounts receivable 90,000 Supplies expense 10,000
Cash 123,000 Taxes expenses 8,000
Fees earned 500,000 Utilites expenses 36,000
Miscellaneous expenses 11,000 Wages expenses 280,000
Rent expense 75,000

Instructions:
1. Prepare an income statement for the current year ended June 30, 2012
2. Prepare a statement of owner’s equity for the current year ended june 30, 2012.
3. Prepare a balance sheet as of June 30, 2012
4. What item appears on both the income statement and statement of owner’s equity?
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