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800,000 Dynamic Weight Loss US, Uhers pour After all the accounts have been closed on June 30, 2018, the end UI WIL ances of selected accounts from the ledger of Dynamic Weight Loss are as follows: $ 8,400 Prepaid Insurance Accounts Payable HOW ME HOW $ 51,200 6,000 Accounts Receivable 187,500 Prepaid Rent 186,000 Accumulated Depreciation-Equipment 620,300 Retained Earnings Cash ? Salaries Payable 7,500 100,000 Supplies 11,200 Equipment 325,900 Unearned Fees 21,000 Land 375,000 Prepare a classified balance sheet that includes the correct balance for Cash. Common Stock and balance otal assets: $625,000 Obj. 2 EX 4-13 Balance sheet List the errors you find in the following balance sheet. Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2018 Assets Current assets: Cash... Accounts payable......... Supplies ............... Prepaid insurance ... Land. ... ... Total current assets.. Property, plant, and equipment: $ 18,500 31,300 6.500 16,600 225.000 $297,900 Building $400,000 97,000 Equipment .............. Total property, plant, and equipment...... Total assets. 635.400 $933,300 ............. Liabilities Current liabilities: Accounts receivable. Accumulated depreciation building............... Accumulated depreciation-equipment ...... Net income........ Total liabilities .............. $ 41,400 155,000 25,000 118,200 $339,600 $ Stockholders' Equity Wages payable ...... Common stock........... Retained earnings.. Total stockholders' equity.... .. Total liabilities and stockholders'equity............ 6,500 75,000 512.200 593,200 $933.300 Chapter 4 Completing the Accounting Cycle E. Add the Debit and Credit columns of the Balance Sheet and Income Statement columns of the spreadsheet determine the amount of net income or net loss for the period. F. Add the Debit and Credit columns of the Adjusted Trial Balance columns of the spreadsheet to verify that the totals are equal. G. Enter the adjusting entries into the spreadsheet, based on the adjustment data. H. Enter the amount of net income or net loss for the period in the proper Income Statement column and Balance Sheet column 1. Enter the unadjusted account balances from the general ledger into the Unadjusted Trial Balance columns of the spreadsheet J. Extend the adjusted trial balance amounts to the Income Statement columns and the Balance Sheet columns