Sunday, 22 July 2012


Exercise 1-15

Presented below is financial information related to the 2008 operations for summer cruise company.

Maintenance expense $ 95,000
Property tax expense (on dock facilities) 10,000
Salaries expense 142,000
Advertising expense 3,500
Ticket revenue 325,000

Instruction
Prepare the 2008 income statement for Summers Cruise Company.

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