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The balances of Up-in-the-Air Travel Service's accounting equation items for the year ended April 30, 2017, are listed below. Jerome Foley, the owner, invested an
The balances of Up-in-the-Air Travel Service's accounting equation items for the year ended April 30, 2017, are listed below. Jerome Foley, the owner, invested an additional $46,000 in the business during the year and withdrew cash of $31,000 for personal use. Jerome Foley, capital as of May 1, 20Y6, was $662,000. Fees earned $1,403,000 Office expense 303,000 Miscellaneous expense 32,000 Wages expense 864,000 Accounts payable 61,500 Accounts receivable 187,000 Cash 303,000 Land Supplies 434,500 18,000 Prepare a balance sheet as of April 30, 2017. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. When entering assets, enter them in order of liquidity. 1 2 3 5 6 7 8 9 10 11 Up-in-the-Air Travel Service Balance Sheet For the Year Ended April 30, 20Y7 Assets Liabilities Owner's equity Labels and Amount Descriptions Labels April 30, 2017 For the Year Ended April 30, 20Y7 Amount Descriptions Net income Jerome Foley, capital Total assets Total expenses Total liabilities Total liabilities and owner's equity Total revenue
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