Question
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
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 | $37,000 |
Accounts receivable | 117,500 |
Accumulated depreciation-equipment | 187,200 |
Cash | ? |
Common stock | 75,000 |
Equipment | 474,150 |
Land | 300,000 |
Prepaid insurance | 6,400 |
Prepaid rent | 24,000 |
Retained earnings | 636,200 |
Salaries payable | 8,600 |
Supplies | 4,800 |
Unearned fees | 17,600 |
Labels Current assets Current liabilities For the Year Ended June 30, 20Y7 June 30, 20Y7 Property, plant, and equipment Amounts Descriptions Book value-equipment Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders equity Total property, plant, and equipment Total stockholders equity
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