The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees...

The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow:

Fees earned	$801,980
Office expense	184,455
Miscellaneous expense	16,040
Wages expense	384,950
Accounts payable	20,050
Accounts receivable	56,140
Cash	235,320
Common stock	135,000
Land	257,000
Supplies	9,625

Cash dividends of $30,500 were paid during the year. Retained earnings as of June 1, 20Y5, were $217,000.

Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.

Paradise Travel Service
Balance Sheet
May 31, 20Y6
Assets
	$



Total assets		$
Liabilities
		$
Stockholders' Equity
	$

Total stockholders' equity
Total liabilities and stockholders' equity		$

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For any clarifications, please comment, thank you.

ekkarill92 answered 1 year ago

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