Hilario_Prob1_2B - $68,750 Less withdrawals 7,500 Increase...

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St. Kitts Travel Agency  Income Statement For the Year Ended December 31st, 2010 Fees Earned $125,000 Expenses: Wages Expense $32,500 Rent Expense 12,500 Utilities Expense 9,100 Supplies Expense 1,400 Miscellaneous Expense 750 Total Expenses 56,250 Net Income $68,750 St. Kitts Travel Agency Statement of Owners Equity For the Year Ended December 31st, 2010 Robin Egan, capital, January 1, 2010 $45,000 Net Income for the Year
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Unformatted text preview: $68,750 Less withdrawals 7,500 Increase in owner's equity $61,250 Robin Egan, capital, December 31st, 2010 $106,250 St. Kitts Travel Agency Balance Sheet December 31st, 2010 Assets Liabilities Cash $90,000 Accounts Payable $6,250 Accounts Receivable 21,150 Owner's Equity Supplies 1,350 Robin Egan, capital 106,250 Total Assets $112,500 Total liabilities and owner's $112,500...
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