1. The account balances of A-One Travel Service for the year ended August 31, 20Y6, follow: Fees...

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The account balances of A-One Travel Service for the year ended August 31, 20Y6, follow: Fees earned Office expense Miscellaneous expense Wages expense Accounts payable Accounts receivable Cash Common stock Land $861,180 198,070 17,225 413,365 21,530 60,280 242,735 135,000 276,000 10,335 Supplies Cash dividends of $32,700 were paid during the year. Retained earnings as of September 1, 20Y5, were $233,000. Prepare a balance sheet as of August 31, 20Y6. When entering assets, enter them in order of liquidity. The account balances of A-One Travel Service for the year ended August 31, 20Y6, follow: Fees earned Office expense Miscellaneous expense Wages expense Accounts payable Accounts receivable Cash Common stock Land $861,180 198,070 17,225 413,365 21,530 60,280 242,735 135,000 276,000 10,335 Supplies Cash dividends of $32,700 were paid during the year. Retained earnings as of September 1, 20Y5, were $233,000. Prepare a balance sheet as of August 31, 20Y6. When entering assets, enter them in order of liquidity.

Answer rating: 100% (QA)

ANSWER AOne Travel Service Balance Sheet August 31 20Y6 Line Item Description Amount Assets Cash 82275 Accounts Receivable 60280 Land 276000 Supplies ... View the full answer