FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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[The following information applies to the questions displayed below]
The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed
alphabetically, amounts in millions).
Accounts Payable
Accounts Receivable
Aircraft Fuel Expense
Cash
Cash
w
Common Stock
Divid
Dividends
Why you
Equipment
Income Tax Expense
PO
Interest Expense
FOTO
Landing Fees Expense
www
Notes Payable
Repairs and Maintenance Expense
Retained Earnings (as of December 31)
Salaries and Wages Expense
Supplies
Ticket Revenues
Revenues
NATIONAL AIRWAYS, Incorporated
Income Statement
For the Year Ended December 31
(Amounts in millions)
Accounts Payable
Ticket Revenues
Total Expenses
1. Prepare an income statement for the year ended December 31. (Enter your answers in millions (i.e., 10,000,000 should be entered
as 10.).)
Revenues
Salaries and Wages Expense
Repairs and Maintenance Expense
Landing Fees Expense
Aircraft Fuel Expense
Interest Expense
Income Tax Expense
0
$4,345
650
9,400
3,040
1,255
***
30
0
5 216
15,210
260
200
3,800
Foud
6,985
740
1,900
7,030
3,385
715
20,600
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Transcribed Image Text:Required information [The following information applies to the questions displayed below] The following information was reported in the December 31 financial statements of National Airways, Incorporated (listed alphabetically, amounts in millions). Accounts Payable Accounts Receivable Aircraft Fuel Expense Cash Cash w Common Stock Divid Dividends Why you Equipment Income Tax Expense PO Interest Expense FOTO Landing Fees Expense www Notes Payable Repairs and Maintenance Expense Retained Earnings (as of December 31) Salaries and Wages Expense Supplies Ticket Revenues Revenues NATIONAL AIRWAYS, Incorporated Income Statement For the Year Ended December 31 (Amounts in millions) Accounts Payable Ticket Revenues Total Expenses 1. Prepare an income statement for the year ended December 31. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) Revenues Salaries and Wages Expense Repairs and Maintenance Expense Landing Fees Expense Aircraft Fuel Expense Interest Expense Income Tax Expense 0 $4,345 650 9,400 3,040 1,255 *** 30 0 5 216 15,210 260 200 3,800 Foud 6,985 740 1,900 7,030 3,385 715 20,600
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