The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 20Y5, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $62,650 at May 1, 20Y4, the beginning of the year, and the owner withdrew $30,700 during the year. Accounts payable $25000
Accounts receivable 210,000
Cash 146,000
Fees earned 875,000
Miscellaneous expense 15,000
Rent expense 75,000
Supplies $9,000
Supplies expense 12,000
Taxes expense 10,000
Utilities 38,000
Wages expense 525,000

Required:
a. Prepare an income statement for the year ended April 30, 20Y5.
b. Prepare a statement of owner's equity for the year ended April 30, 20Y5.
c. Prepare a balance sheet as of April 30, 20Y5.
d. What item appears on both the income statement and statement of owner's equity?

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

Refer to the payoff matrix. suppose that speedy bike and power bike are the only two bicycle manufacturing firms serving the market. both can choose large or small advertising budgets. is there a nash equilibrium solution to this game?

Select the correct answer. which is a benefit of planning for your future career? a. being less prepared after high school. b. having higher tuition in college. c. earning college credits in high school. d. ruining your chances of having a successful career.