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Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 20Y7,

  1. Balance Sheet

    Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 20Y7, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows:

    Accounts Payable $9,370
    Accounts Receivable 22,580
    Accumulated Depreciation - Equipment 28,200
    Common Stock 180,000
    Cash ?
    Equipment 81,520
    Land 109,000
    Prepaid Insurance 5,250
    Prepaid Rent 3,280
    Retained Earnings 7,960
    Salaries Payable 3,650
    Supplies 560
    Unearned Fees 2,720

    Prepare a classified balance sheet that includes the correct balance for Cash.

    Dynamic Weight Loss Co.
    Balance Sheet
    June 30, 20Y7
    Assets
    Current assets:
    $
    Total current assets $
    Property, plant, and equipment:
    $
    $
    Total property, plant, and equipment
    Total assets $
    Liabilities
    Current liabilities:
    $
    Total liabilities $
    Stockholders' Equity
    $
    Total stockholders' equity
    Total liabilities and stockholders' equity $

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