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

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Accounting

The account balances of Paradise Travel Service for the year ended May 31,20Y6, follow:
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
$10,000 of dividends were paid during the year. Retained earnings as of June 1,20Y5, were $300,000
Prepare a 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
$- Select -
- Select -
- Select -
- Select -
Total assets $fill in the blank 9
Liabilities
$- Select -
Stockholders' Equity
$- Select -
- Select -
Total stockholders' equity fill in the blank 16
Total liabilities and stockholders' equity $fill in the blank 17

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