Using the following data for Dynasty Travel Service as well as the statement of owners equity shown in Practice Exercise 1 5A, prepare a balance sheet as of June 30, 2012 Accounts receivable $ 64,000 Accounts payable 24,000 Cash 156,000 Land 300,000 Supplies 12,000 ...

DYNASTY TRAVEL SERVICE Balance Sheet June 30 2012 Asse ...

Using the following data for Dynasty Travel Service as well as the statement of owners equity shown

Question:

Using the following data for Dynasty Travel Service as well as the statement of owner’s equity shown in Practice Exercise 1-5A, prepare a as of June 30, 2012.
Accounts receivable ........ $ 64,000
Accounts payable ......... 24,000
Cash .............. 156,000
Land ............. 300,000
Supplies ........... 12,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...