Using the following data for Escape Travel Service as well as the statement of owners equity shown in Practice Exercise 1 5B, prepare a balance sheet as of November 30, 2012 Accounts receivable $ 94,375 Accounts payable 52,500 Cash 56,750 Land 362,500 Supplies 6,375 ...

ESCAPE TRAVEL SERVICE Balance Sheet November 30 2012 Asset ...

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

Question:

Using the following data for Escape Travel Service as well as the statement of owner’s equity shown in Practice Exercise 1-5B, prepare a as of November 30, 2012.
Accounts receivable ......... $ 94,375
Accounts payable .......... 52,500
Cash ............... 56,750
Land ............... 362,500
Supplies ............. 6,375

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...