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The following are the amounts of the assets and liabilities of Pedigree Travel Service at December 31, 2008, the end of the current year, and its revenue and expenses for the year. The capital of Shiann Ott, was $115,00 on January 1, 2008, the beginning of the current year. During the current year, Shiann withdrew $40,000.

Accounts payable $12,500
Accounts receivable $42,300
Cash $180,000
Fees Earned $250,000
Miscellaneous expense $1,500
Rent expense $25,000
Supplies $2,700
Supplies expense $2,800
Utilities expense $18,200
Wages expense $65,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9973829

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