Question

The balances of Ousel Travel Service’s accounting equation items for the year ended November 30, 2016, are listed below. Shane Ousel, the owner, invested an additional $37,200 in the business during the year and withdrew cash of $15,200 for personal use. Shane Ousel, capital as of December 1, 2015, was $390,000.

Accounts
Fees earned	$750,000
Office expense	295,100
Miscellaneous expense	10,800
Wages expense	451,400
Accounts payable	43,600
Accounts receivable	75,000
Cash	46,800
Land	321,600
Supplies	4,900

Prepare a balance sheet as of November 30, 2016. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.

Answer 1

Book Home nsert Page Layout Formulas Dta Renew View 2 AutoSum Cut copy Format Painter 田-a : Conditional aFor ble-styles. & Find & 2ClearFilter Select B 1 u 浬锂4 Merge & Center $-% , Insert Delete Format Formatting as Table Styles F11 Balance sheet income statement (As of Nov.30,2016) 750,000.00 (295,100.00) 10,800.00) (451,400.00) 300.00) fees earned less: office exp less: misc. exp less: wages expense Current assets: cash Accounts receivable Supplies total CA Non-current assets Land Total assets 46,800.00 75,000.00 4,900.00 126,700.00 net loss 10 321,600.00 448,300.00 12 14 15 16 17 Liabi Accounts payable total liabili 43,600.00 43,600.00 Stockholder's equity: Capital stock total liabilty and equit 19 404,700.00 (390000+37200-15200-7300) 448,300.00 21 14 4 sheet1 , Sheet2·Sheet3 10-23 PM ^ P ฐ.11 4/28/2018