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    Raihan Maulana
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    Lakota Freight Co.'s income statement for the year ended March 31, 2014 shows service revenue of $160,000 and total expenses of $108,850, resulting in net income of $51,150. Lakota Freight Co.'s statement of owner's equity shows that owner Kaya Tarango's capital increased from $96,000 on April 1, 2013 to $132,150 on April 1, 2014 due to net income of $51,150 and withdrawals of $15,000.

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    Lakota Freight Co.'s income statement for the year ended March 31, 2014 shows service revenue of $160,000 and total expenses of $108,850, resulting in net income of $51,150. Lakota Freight Co.'s statement of owner's equity shows that owner Kaya Tarango's capital increased from $96,000 on April 1, 2013 to $132,150 on April 1, 2014 due to net income of $51,150 and withdrawals of $15,000.

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    5 views1 page

    4-4A Nomor 5

    Uploaded by

    Raihan Maulana
    Lakota Freight Co.'s income statement for the year ended March 31, 2014 shows service revenue of $160,000 and total expenses of $108,850, resulting in net income of $51,150. Lakota Freight Co.'s statement of owner's equity shows that owner Kaya Tarango's capital increased from $96,000 on April 1, 2013 to $132,150 on April 1, 2014 due to net income of $51,150 and withdrawals of $15,000.

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    © All Rights Reserved
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    LAKOTA FREIGHT CO.

    Income Statement
    For the Year Ended March 31, 2014
    Service Revenue $ 160,000
    Expenses :
    Wages expense $ 45,600
    Supplies $ 22,500
    Rent expense $ 10,600
    Truck expense $ 9,000
    Depreciation expense-equipment $ 8,350
    Depreciation expense-trucks $ 6,200
    Insurance expense $ 1,800
    Miscellaneous expense $ 4,800
    Total Expense $ 108,850
    Net Income $ 51,150

    LAKOTA FREIGHT CO.


    Statement of Owner's Equilty
    For the Year Ended March 31, 2014
    Kaya Tarango, capital, April 1, 2013 $ 96,000
    Net Income for the year $ 51,150
    Less withdrawals $ 15,000
    Increase in owner's equilty $ 36,150
    Kaya Tarango, capital, April 1, 2014 $ 132,150

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