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Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $975,225 Office expense 224,300 Miscellaneous expense
Balance Sheet The account balances of Paradise Travel Service for the year ended May 31, 2016, follow: Fees earned $975,225 Office expense 224,300 Miscellaneous expense 19,505 Wages expense 468,110 Accounts payable 24,380 Accounts receivable 68,270 Cash 256,615 Common stock 135,000 Land 312,000 < Supplies 11,705 Cash dividends of $37,100 were paid during the year. Retained earnings as of June 1, 20Y5, were $263,000. 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 Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 00 00
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