Hw3_2 - S3-1) Accrual Accounting Fleetwood Corporation...

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Unformatted text preview: S3-1) Accrual Accounting Fleetwood Corporation Income Statement For year ending Dec. 31, 20X3 Revenues: Service Revenue $700 Expenses: Supplies Expense $300 Inventory Expense $400 Other Expenses $630_______ Net Loss ($630 million) Cash Basis Fleetwood Corporation Income Statement For Year ending Dec. 31, 20X3 Revenues: Service Revenue $670 Expenses: Supplies Expense $300 Inventory Expense $400 Other Expenses $630________ Net loss ($660 million) a. Fleetwood’s Net Loss = -$630 million b. Fleetwood’s cash balance = $0 S3-6) Jetway Airlines Income Statement For year ending Dec. 31, 20X8 Salary Expense $40 million Jetway Airlines Balance Sheet For year ending Dec. 31, 20X8 Salary Payable $2 Million ...
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This note was uploaded on 01/06/2012 for the course BUSINESS 214 taught by Professor Michellebissonette during the Winter '10 term at Cal Poly.

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