Using the following data for Escape Travel Service as well

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 balance sheet 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...