Balance Sheet The account balances of Zenith Travel Service for the year ended August 31, 20Y4, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land $779,430 179,270 15,590 374,125 54,560 19,485 144,215 249,000 9,355 Supplies Megan Cox, the owner, invested an additional $46,800 in the business during the year and withdrew cash of $29,600 for personal use. Megan Cox, capital as of September 1, 20Y3, was $210,000. Prepare a report form balance sheet as of August 31, 20Y4. When entering assets, enter them in order of liquidity,
Balance Sheet The account balances of Zenith Travel Service for the year ended August 31, 20Y4, are listed below. Fees earned Office expense Miscellaneous expense Wages expense Accounts receivable Accounts payable Cash Land $779,430 179,270 15,590 374,125 54,560 19,485 144,215 249,000 9,355 Supplies Megan Cox, the owner, invested an additional $46,800 in the business during the year and withdrew cash of $29,600 for personal use. Megan Cox, capital as of September 1, 20Y3, was $210,000. Prepare a report form balance sheet as of August 31, 20Y4. When entering assets, enter them in order of liquidity,
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 2PA: The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal...
Related questions
Question
Prepare a report form balance sheet as of August 31, 20Y4.
Transcribed Image Text:Balance Sheet
The account balances of Zenith Travel Service for the year ended August 31, 20Y4, are listed below.
Fees earned
Office expense
Miscellaneous expense
Wages expense
Accounts receivable
Accounts payable
Cash
Land
$779,430
179,270
15,590
374,125
54,560
19,485
144,215
249,000
9,355
Supplies
Megan Cox, the owner, invested an additional $46,800 in the business during the year and withdrew cash of $29,600 for personal use. Megan Cox,
capital as of September 1, 20Y3, was $210,000.
Prepare a report form balance sheet as of August 31, 20Y4. When entering assets, enter them in order of liquidity.
Zenith Trav
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage