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Instructions The amounts of the assets and liabilities of Journey Travel Agency at December 31, 2018, the end of the year, and its revenue and
Instructions The amounts of the assets and liabilities of Journey Travel Agency at December 31, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $1,341,000 on January 1, 2018, the beginning of the year. During the year, dividends of $75,000 were paid. Accounts payable $ 69,500 Accounts receivable 236,500 Cash 190,500 Common stock 450.000 Fees earned 383,500 Land 1,500,000 Miscellaneous expense 14,500 Rent expense 22.500 Supplies 7,000 Supplies expense 11,300 Utilities expense 16,700 170,000 Wages expense Is not needed in the Retailed 3. Prepare a balance sheet as of December 31 2018. Refer to the Accounts given in the Instructions and to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading 4. What item appears on both the retained earnings statement and the balance sheet? Labels December 31, 2018 Expenses For the Year Ended December 31, 2018 Amount Descriptions Change in retained earnings Dividends Net income Net loss Retained earnings Retained earnings December 21 2010 Dividends Net income Net loss Retained earnings Retained earnings, December 31, 2018 Retained earnings, January 1, 2018 Total assets Total expenses Total liabilities and stockholders' equity Total stockholders' equity
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