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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, 2017,
Balance Sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2017, the end of the fiscal year, the balances of selected accounts from the ledger of Dynamic Weight Loss are as follows: Accounts Payable $51,200 Accounts Receivable 187,500 Accumulated Depreciation - Equipment 186,000 Cash ? Common Stock 100,000 Equipment 325,900 Land 375,000 Prepaid Insurance 8,400 6,000 620,300 Prepaid Rent Retained Earnings Salaries Payable Supplies Unearned Fees 7,500 11,200 21,000 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2017 Prepare a classified balance sheet that includes the correct balance for Cash. Dynamic Weight Loss Co. Balance Sheet June 30, 2017 Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Prepaid rent Total current assets Property, plant, and equipment: Accumulated depreciation - equipment x Accounts receivable x Accumulated amortization X Accounts receivable x 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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