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The Assets and Liabilities of Amos Moving Services at March

question 165

Essay

The assets and liabilities of Amos Moving Services at March 31, 2014, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April 1, 2013, the beginning of the current year. Mr. Amos invested an additional $25,000 in the business during the year.
 Accounts Payable $2,000 Miscellaneous Expense $1,030 Accounts Receivable $10,340 Office Expense $1,240 Cash $21,420 Supplies $1,670 Fees Earned $73,450 Wages Expense $23,550 Land $47,000 Drawing $16,570Building$157,630\begin{array}{llll}\text { Accounts Payable } & \$ 2,000 & \text { Miscellaneous Expense } &\$ 1,030\\\text { Accounts Receivable } & \$ 10,340 & \text { Office Expense } &\$1,240\\\text { Cash } & \$ 21,420 & \text { Supplies } & \$1,670\\\text { Fees Earned } & \$ 73,450 & \text { Wages Expense } &\$23,550\\\text { Land } & \$ 47,000 & \text { Drawing }&\$16,570\\Building&\$ 157,630\end{array} Prepare an income statement for the current year ended March 31, 2014.

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