assignment 4 question 5

MaxFit Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 2014, the end of the fiscal year, the balances of selected accounts from the ledger of MaxFit Weight Loss Co. are as follows: Accounts Payable $37,100 Accounts Receivable 117,650 Accumulated Depreciation 185,000 Cash 2. Equipment 475,250 Land 300,000 Prepaid Insurance 7,600 Prepaid Ment 22,800 Salaries Payable 8,400 Supplies 5,000 Unearned Fees 17,800 Vanessa Freeman, Capital 711,200 Prepare a classified balance sheet that includes the correct balance for Cash. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. You will not need to enter colons (or the word "Lees" on the balance sheet; they will automatically insert where necessary. Enter all amounts as positive numbers. When entering assets, enter then in order of liquidity. Labels and Amounts Descriptions X Labels Current assets Current liabilities For the Year Ended November 30, 2074 November 30, 20Y4 Property, plant, and equipment Amounts Descriptions Total assets Total current assets Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Prepare a classified balance sheet that includes the correct balance for Cash. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all amounts as positive numbers. When entering assets, enter them in order of liquidity. MaxFit Weight Loss Co. Balance Sheet (Label) 1 Assets 2 (Label) 3 4 5 6 7 8 9 (Label) 10 11 12 13 14 15 Liabilities 16 (Label) 17 18 19 20 21 Owner's equity 22 23