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Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $928,430 Office expense 213,540 Miscellaneous expense
Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $928,430 Office expense 213,540 Miscellaneous expense 18,570. Wages expense 445,645 Accounts payable 23,210 Accounts receivable 64,990 Cash 251,455 Common stock 135,000 297,000 Land Supplies 11,140 Cash dividends of $35,300 were paid during the year. Retained earnings as of June 1, 20Y5, were $251,000. Prepare the balance sheet as of May 31, 2016. When entering assets, enter them in order of liquidity. Paradise Travel Service Balance Sheet May 31, 20Y6 Assets
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