Question
The balances of Paradise Travel Service's accounting equation items for the year ended May 31, 2018, are listed below. $10,000 of dividends were paid during
The balances of Paradise Travel Service's accounting equation items for the year ended May 31, 2018, are listed below. $10,000 of dividends were paid during the year. Retained earnings as of June 1, 2017, were $300,000.
Accounts
Fees earned $900,000
Office expense 300,000
Miscellaneous expense $15,000
Wages expense $450,000
Accounts payable $18,000
Accounts receivable $38,000
Cash $52,000
Common stock $100,000
Land $450,000
Supplies $3,000
I have to prepare abalance sheetas of May 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
I having a problem getting the stockholder equity part correct. Can get some help completing this please.
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