Question
The revenues and expenses of Paradise Travel Service for the year ended May 31, 2016, follow Fees eamed $900,000 300,000 Office expense Miscelaneous expense
The revenues and expenses of Paradise Travel Service for the year ended May 31, 2016, follow Fees eamed $900,000 300,000 Office expense Miscelaneous expense Wages expense 15,000 450,000 Everett McCauley invested an additional $40,000 in the business in exchange for common stock, and $10,000 of dividends were paid during the year. Common stock had a balance of $60,000 and retained earnings had a tilence of $300,000 as of June 1, 2015 Required: Prepare a statement of stockholders' equity for the year ended May 31, 2016. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. De sure to complete the statement heading. If a net Ass is incurred or dividends were paid, enter mat amount as a negative number using a minus sign Entries of 0 (zero) are not required and will be cleared if entered
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