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answer pls will leave thumbs up if correct Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the
answer pls will leave thumbs up if correct
Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2047, the end of the fiscal year, the balances of selected accounts from the ledger of Dynam Loss are as follows: Accounts Payable $10,550 Accounts Receivable 25,430 Accumulated Depreciation - Equipment 31,760 Common Stock 180,000 Cash ? Equipment 91,780 Land 122,000 Prepaid Insurance 5,910 Prepaid Rent 3,690 Retained Earnings 31,630 Salaries Payable 4,110 Supplies 630 Unearned Fees 3,060 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2017 Current assets: Cash 72,000 x Accounts receivable 187,500 x Supplies 11,200 X Prepaid insurance 8,400 x Prepaid rent 6,000 X Total current assets 285,100 x Property, plant, and equipment: Land 375,000 X Equipment 325,900 Accumulated depreciation - equipment 186,000 x Book value - equipment 139,900 X Total property, plant, and equipment 514,900 Total assets 800,000 X Liabilities Current liabilities: Accounts payable 51,200 Salaries payable 7,500 X Unearned fees 21,000 x Total liabilities 79,700 Stockholders' Equity Common stock 100,000 X Retained earnings 620,300 x Total stockholders' equity 720,300 x Total liabilities 79,700 X Stockholders' Equity Common stock 100,000 x Retained earnings 620,300 x Total stockholders' equity 720,300 X Total liabilities and stockholders' equity $ 800,000 xStep by Step Solution
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