Question
The balances of Ousel Travel Services accounting equation items for the year ended November 30, 2016, are listed below. Shane Ousel, the owner, invested an
The balances of Ousel Travel Services accounting equation items for the year ended November 30, 2016, are listed below. Shane Ousel, the owner, invested an additional $50,000 in the business during the year and withdrew cash of $30,000 for personal use. Shane Ousel, capital as of December 1, 2015, was $666,000. Accounts Fees earned $1,475,000 Office expense 320,000 Miscellaneous expense 28,000 Wages expense 885,000 Accounts payable 62,500 Accounts receivable 186,000 Cash 308,000 Supplies 16,500 Land 480,000 Prepare a balance sheet as of November 30, 2016. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
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