Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $817,785 Office expense 188,090 Miscellaneous expense 16,355 Wages expense 392,535 Accounts payable 20,445 Accounts receivable 57,240 237,095 135,000 262,000 9,815 Cash Common stock Land Supplies Cash dividends of $31,100 were paid during the year. Retained earnings as of June 1, 20Y5, were $221,000. Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.. Paradise Travel Service Total assets Balance Sheet May 31, 20Y6 Assets Liabilities Stockholders Equity Total stockholders' equity Total liabilities and stockholders' equity

Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $817,785 Office expense 188,090 Miscellaneous expense 16,355 Wages expense 392,535 Accounts payable 20,445 Accounts receivable 57,240 237,095 135,000 262,000 9,815 Cash Common stock Land Supplies Cash dividends of $31,100 were paid during the year. Retained earnings as of June 1, 20Y5, were $221,000. Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.. Paradise Travel Service Total assets Balance Sheet May 31, 20Y6 Assets Liabilities Stockholders Equity Total stockholders' equity Total liabilities and stockholders' equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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