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Balance Sheet Easy Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30,
Balance Sheet Easy Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 20Y7, the end of the fiscal year, the balances of selected accounts from the ledger of Easy Weight Loss are as follows: Accounts Payable $41,200 Accounts Receivable 130,550 Accumulated Depreciation - Equipment 45,000 Cash ? Common Stock 90,000 Equipment 230,000 Land 320,000 Prepaid Insurance 7,500 Prepaid Rent 4,800 Retained Earnings 601,500 Salaries Payable 3,800 Supplies 9,150 Unearned Fees 13,500 Prepare a classified balance sheet that includes the correct balance for Cash. Line Item Description Current assets: Assets Easy Weight Loss Co. Balance Sheet November 30, 20Y7 Amount Amount Accounts payable Accounts receivable Accumulated depreciation - equipment Common stock Land Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Unearned fees Total liabilities 0 0 00000
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