Cash dividends of $33,500 were paid during the year. Retained earnings as of September 1, 20Y5,...

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Cash dividends of $33,500 were paid during the year. Retained earnings as of September 1, 20Y5, were $238,000. Prepare a balance sheet as of August 31, 20Y6. When entering assets, enter them in order of liquidity. A-One Travel Service Cash Accounts receivable Supplies Land Line Item Description Total assets Accounts payable Balance Sheet August 31, 20Y6 Common stock Retained earnings Assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Amount $ 135,000 Amount 245,055 61,640 10,565 282,000 599,260 22,015 Cash dividends of $33,500 were paid during the year. Retained earnings as of September 1, 20Y5, were $238,000. Prepare a balance sheet as of August 31, 20Y6. When entering assets, enter them in order of liquidity. A-One Travel Service Cash Accounts receivable Supplies Land Line Item Description Total assets Accounts payable Balance Sheet August 31, 20Y6 Common stock Retained earnings Assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Amount $ 135,000 Amount 245,055 61,640 10,565 282,000 599,260 22,015

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Answer To prepare the balance sheet as of August 31 2016 we need to find the value of retained earni... View the full answer