Reference no: EM132616816

The assets and liabilities of Global Travel Agency on December 31, 20Y5, and its revenue and expenses for the year are as follows:

Accounts payable $108,000            Miscellaneous expense$19,500

Accounts receivable 539,000          Rent expense 56,000

Cash 200,000                              Supplies 6,000

Common stock 575,000                 Supplies expense 12,700

Fees earned 940,000               Utilities expense 34,800

Land 1,500,000                      Wages expense 415,000

Common stock was $525,000 and retained earnings was $1,250,000 as of January 1, 20Y5. During the year, additional common stock of $50,000 was issued for cash, and dividends of $90,000 were paid.

Problem 1: How do Make a statement of stockholders' equity for the year ended December 31, 20Y5.

Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries.

Problem 2: How do Make a balance sheet as of December 31, 20Y5.???