CASE STUDY 1

Instruction:

1. Read the case below and answer what is required.

2. Present your answer by making a video presentation discussing how you come up with
your answer.
3. Submit your video presentation to my messenger account.
4. Deadline for submission will be on January 30, 2019 during our schedule.
5. You will be graded as follows:
Accuracy and Completeness of the Answer 50%
Timeliness 10%
Video Presentation 30%
Group Effort 5%
Total 95%

The accounting records of JetAway Airlines reveal the following. The fiscal year ends on
September 30 and amounts are in thousands of US$.
Required:

1. Prepare a comparative statement of financial position for JetAway Airlines as of

September 30, 2013 and September 30, 2012.
2. Prepare an income statement for JetAway Airlines for the year ended September 30,
2013.
3. Prepare a schedule explaining the change in retained earnings between September 30,
2012 and September 30, 2013. JetAway declared and paid dividends during fiscal 2013.