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The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned $899,600 Office expense 353,800 Miscellaneous expense
The account balances of Zenith Travel Service for the year ended August 31, 2014, are listed below. Fees earned $899,600 Office expense 353,800 Miscellaneous expense 14,400 Wages expense 539,800 Accounts payable 53,500 Accounts receivable 90,600 Cash 54,500 Land 372,000 Supplies 5,600 Megan Cox, the owner, invested an additional $43,200 in the business during the year and withdrew cash of $21,600 for personal use. Megan Cox, capital as of September 1, 2043, was $456,000. Prepare a balance sheet as of August 31, 2014. When entering assets, enter them in order of liquidity. Zenith Travel Service Balance Sheet August 31, 2014 Assets Total assets Liabilities Owner's Equity Total liabilities and owner's equity
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