Financial Statements The assets and liabilities of Wilderness Travel Service on April 30, 2017, and...
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Financial Statements The assets and liabilities of Wilderness Travel Service on April 30, 2017, and its revenue and expenses for the year are as follows: Accounts payable $25,000 Rent expense $75,000 Accounts receivable 210,000 Supplies 9,000 Cash 156,000 Supplies expense 12,000 Common stock 35,000 Taxes expense 10,000 Fees earned 875,000 Utilities expense 38,000 Miscellaneous expense 15,000 Wages expense 525,000 Common stock was $25,000 and retained earnings was $155,000 as of May 1, 2016. During the year, additional common stock of $10,000 was issued for cash, and dividends of $40,000 were paid Required: 2. Prepare a statement of stockholders' equity for the year ended April 30, 2017. If an amount box does not require, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Wilderness Travel Service Statement of Stockholders' Equity For the Year Ended April 30, 2017 Common Stock Retained Earning Total Accounts receivable Balances, May 1, 2016 Balances, April 30, 2017 Cash Net income
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