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The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land Supplies Megan Cox, the owner, invested an additional $43,100 in the business during the year and withdrew cash of $27,300 for personal use. Megan Cox, capital as of September 1, 2013, was $194,000. Cash Accounts receivable Supplies and Prepare a report form balance sheet as of August 31, 2014. When entering assets, enter them in order of liquidity. Zenith Travel Service Balance Sheet August 31, 20Y4 Total assets Accounts payable Assets Labilities Owner's Equity $717,975 165,135 Megan Cox, capital Total liabilities and owner's equity 14,360 344,630 50,260 17,950 132,725 230,000 8,615 132,725 50,260 8615 230,000 421,600 17,950 397,850 X 421,600

The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land Supplies Megan Cox, the owner, invested an additional $43,100 in the business during the year and withdrew cash of $27,300 for personal use. Megan Cox, capital as of September 1, 2013, was $194,000. Cash Accounts receivable Supplies and Prepare a report form balance sheet as of August 31, 2014. When entering assets, enter them in order of liquidity. Zenith Travel Service Balance Sheet August 31, 20Y4 Total assets Accounts payable Assets Labilities Owner's Equity $717,975 165,135 Megan Cox, capital Total liabilities and owner's equity 14,360 344,630 50,260 17,950 132,725 230,000 8,615 132,725 50,260 8615 230,000 421,600 17,950 397,850 X 421,600

FINANCIAL ACCOUNTING
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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The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land Supplies Megan Cox, the owner, invested an additional $43,100 in the business during the year and withdrew cash of $27,300 for personal use. Megan Cox, capital as of September 1, 2013, was $194,000. Prepare a report form balance sheet as of August 31, 20Y4. When entering assets, enter them in order of liquidity. Cash Accounts receivable Supplies Land Total assets Zenith Travel Service Balance Sheet August 31, 2014 Accounts payable Feedback Assets Liabilities $717,975 165,135 14,360 344,630 50,260 17,950 132,725 230,000 8,615 Owner's Equity Megan Cox, capital Total liabilities and owner's equity 132,725 50,260 8,615 230,000 421,600 17,950 397,850 X 421,600 ✓
Transcribed Image Text:The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land Supplies Megan Cox, the owner, invested an additional $43,100 in the business during the year and withdrew cash of $27,300 for personal use. Megan Cox, capital as of September 1, 2013, was $194,000. Prepare a report form balance sheet as of August 31, 20Y4. When entering assets, enter them in order of liquidity. Cash Accounts receivable Supplies Land Total assets Zenith Travel Service Balance Sheet August 31, 2014 Accounts payable Feedback Assets Liabilities $717,975 165,135 14,360 344,630 50,260 17,950 132,725 230,000 8,615 Owner's Equity Megan Cox, capital Total liabilities and owner's equity 132,725 50,260 8,615 230,000 421,600 17,950 397,850 X 421,600 ✓
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