The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow:...

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The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Accounts Fees earned $1,436,000 Office expense 349,000 Miscellaneous expense 21,000 Wages expense 806,000 Everett McCauley invested an additional $52,000 in the business in exchange for common stock, and $26,000 of dividends were paid during the year Retained earnings as of June 1, 2017, was $568,000. Prepare a retained earnings statement for the year ended May 31, 2018. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. "Less" or "Add" is not required A decrease to retained earnings should be entered as a negative amount The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Accounts Fees earned $1,436,000 Office expense 349,000 Miscellaneous expense 21,000 Wages expense 806,000 Everett McCauley invested an additional $52,000 in the business in exchange for common stock, and $26,000 of dividends were paid during the year Retained earnings as of June 1, 2017, was $568,000. Prepare a retained earnings statement for the year ended May 31, 2018. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. "Less" or "Add" is not required A decrease to retained earnings should be entered as a negative amount

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PARADISE TRAVEL SERVICE Figures in INCOME STATEMENT FOR THE YEAR ENDED 31ST MAY 2018 Fees ... View the full answer