Question
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,
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 | $10,890 |
| Accounts Receivable | 26,240 |
| Accumulated Depreciation - Equipment | 32,780 |
| Common Stock | 180,000 |
| Cash | ? |
| Equipment | 94,740 |
| Land | 126,000 |
| Prepaid Insurance | 6,100 |
| Prepaid Rent | 3,810 |
| Retained Earnings | 38,450 |
| Salaries Payable | 4,250 |
| Supplies | 650 |
| Unearned Fees | 3,160 |
Prepare a classified balance sheet that includes the correct balance for Cash.
| Dynamic Weight Loss Co. | |||
| Balance Sheet | |||
| June 30, 20Y7 | |||
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Auditing Principles
Authors: Nformi Eugene Tawe
1st Edition
3330651032, 978-3330651036
