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Eleven-Eleven, Inc. creates guided meditation programs for individuals. On November 30, 20Y9, the balances of selected accounts of Eleven-Eleven, Inc. are as follows: Accounts Payable
Eleven-Eleven, Inc. creates guided meditation programs for individuals. On November 30, 20Y9, the balances of selected accounts of Eleven-Eleven, Inc. are as follows:
Accounts Payable | $67,800 | Prepaid Insurance | $14,400 | ||||
Accounts Receivable | 64,500 | Prepaid Rent | 10,800 | ||||
Accum. DepreciationEquipment | 60,000 | Retained Earnings | 427,500 | ||||
Cash | ? | Salaries Payable | 13,200 | ||||
Common Stock | 75,000 | Supplies | 24,000 | ||||
Equipment | 495,000 | Unearned Fees | 9,000 |
Prepare a classified balance sheet that includes the correct balance for Cash.
Assets | ||
Current assets: | ||
Accounts payableCashCommon stockEquipmentRetained earningsCash | $Cash | |
Accounts payableAccounts receivableCommon stockEquipmentLess accumulated depreciationAccounts receivable | Accounts receivable | |
Accounts payableLess accumulated depreciationSalaries payableSuppliesUnearned feesSupplies | Supplies | |
Accounts payableCommon stockEquipmentPrepaid insuranceSalaries payablePrepaid insurance | Prepaid insurance | |
Less accumulated depreciationPrepaid rentRetained earningsSalaries payableUnearned feesPrepaid rent | Prepaid rent | |
Total current assets | $fill in the blank 11 | |
Property, plant, and equipment: | ||
CashEquipmentPrepaid insurancePrepaid rentRetained earningsEquipment | $Equipment | |
Accounts payableLess accumulated depreciationPrepaid insurancePrepaid rentSalaries payableLess accumulated depreciation | Less accumulated depreciation | Less accumulated depreciation |
Total assets | $fill in the blank 17 | |
Liabilities | ||
Current liabilities: | ||
Accounts payableAccounts receivableCashCommon stockEquipmentAccounts payable | $Accounts payable | |
Accumulated depreciationCashRetained earningsSalaries payableSuppliesSalaries payable | Salaries payable | |
Prepaid insurancePrepaid rentRetained earningsSuppliesUnearned feesUnearned fees | Unearned fees | |
Total current liabilities | $fill in the blank 24 | |
Stockholders' Equity | ||
Accounts payableAccounts receivableCashCommon stockUnearned feesCommon stock | $Common stock | |
Prepaid rentRetained earningsSalaries payableSuppliesUnearned feesRetained earnings | Retained earnings | |
Total stockholders' equity | fill in the blank 29 | |
Total liabilities and stockholders' equity | $fill in the blank 30 |
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