FedEx Corporation reported its balance sheet at May 31, 2019. Assume the following alphabetically listed accounts were included in its trial balance immediately prior to preparing the financial statements.
FedEx CORPORATION Adjusted Trial Balance At May 31, 2019 (millions of dollars)
Accounts | Debit | Credit
-------------------------------------|--------|--------
Accounts Payable | $2,960 | $9,200
Accounts Receivable | $29,100| $2,300
Accumulated Depreciation | $3,200 | $3,300
Cash | $710 | $59,500
Common Stock | $10,900| $120
Depreciation Expense | $3,300 | $590
Dividends | $200 |
Equipment | $60 |
Goodwill | $27,600|
Income Tax Expense | $1,000 |
Income Tax Payable | $13,760|
Interest Expense | $900 |
Interest Receivable | $3,300 |
Interest Revenue | $2,800 |
Notes Payable (long-term) | $14,770|
Notes Payable (short-term) | $24,800|
Office Expenses | $1,740 |
Prepaid Rent | $69,700|
Rent Expense | $500 |
Repairs and Maintenance Expense | $20,550|
Retained Earnings | $153,430|
Salaries and Wages Expense | $153,430|
Salaries and Wages Payable | $153,430|
Service Revenue | $153,430|
Supplies | $153,430|
Prepare an income statement for the year ended May 31, 2019.
Transportation Expense | $153,430|
