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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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